On 19-21 September, the first International Money Transfer and Remittance Conference will be held in New Delhi, India, at the JW Marriot. According to PR Newswire, IMTC Asia 2016 will see a considerable gathering of executives in the international money transfer and payments industry.
Delegates from more than 15 countries will be represented, including the United States of America, the United Kingdom, Spain, Mexico, Russia, the United Arab Emirates, Nepal, Pakistan, Bangladesh, Sri Lanka, Hong Kong, Singapore, Israel and off course the host country, India. The representation from South Asia will be the most significant.
The organizing body, IMTC, hosts many large Money Transfer Conferences and Trade Fairs around the world. IMTC Asia 2016 is supported by many financial services institutions, banks, non-bank mobile money operators and a large array of companies and individuals. The conference is also developed with the help of TCI – Travel Corporation India.
Research has shown that the most important financial contribution international migrants and overseas workers make in their personal capacity is remittance. This means they send money via various international money transfer services back to the home country to pay for school fees, household expenses or mortgage payments to ease the financial burden of their families.
EIN News reports that the industry is seeing significant changes to the traditional business models. Digital channels, for instance, are developing rapidly, and it’s important for international money transfer companies and other organizations in the field to be aware of the needs of their customers.
IMTC Asia 2016 aims to explore these trends, find solutions for various challenges and make use of the opportunities that exist in the market. Important, engaging and enlightening speakers will adress delegates. These include Dilip Ratha from the World Bank, Suman Pokharel from the IME and Nepal Remitters Association (NRA), Lalit Tanej from the Global Association of Risk Professionals and Emil Ruban from Ria Money Transfer.
Hugo Cuevas-Mohr, Director at IMTC, is very excited about the event. According to PR News, he states: “South Asia is one of the largest remittances markets in the world and we were asked constantly since 2010 to do an event in India. The time finally came. For me it is an honor to come to India and make sure the industry realizes its importance and works together to develop and innovate and to understand our enormous social and economic importance.”
Mr. Cuevas-Mohr is the leading global expert in this field and is teaching an in-depth certification course the day previous to the event, on Monday, September 19.
Topics during the conference will be relevant and practical. Mobile Money and Mobile Remittances are two particularly important topics that will be discussed on a panel with Suraj Vaghani, Umesh Wadhwa and Stuart Butler. The potential for mobile money in India is especially large, as only 1% of international money transfer users make use of mobile money, compared to 22% in Bangladesh. In die category, South Asia can learn a lot from Africa, where 76% are represented in Kenya, 48% in Tanzania and 43% in Uganda.
The conference won’t only revolve around international money transfer. Other topics that will be discussed include opportunities and challenges of domestic money transfer in India. This domestic money transfer market might be the largest in the world. The market is still largely informal, creating huge potential for money transfer businesses.
Another India-centric discussion will be on the Indian Remittance Outflow Market. This accounts for between $7 and $10 billion a year. Of this, close to 50% goes to Bangladesh, 30% goes to Pakistan and 10% goes to Nepal. Panelists will discuss the outflow remittance market in India, the informality, the lack of services to migrant populations and the challenges and opportunities that exist.
Ria Money Transfer will be represented on the panel discussing the regional market outlook. Together with two other large players in the international money transfer business, Emil Ruban from Ria Money Transfer will share his personal views of the state of the industry. Panelists will also discuss the regional outlook with respect to volume, pricing, technology, distribution network and challenges as well as new services that are coming into the market.
Together with the formal conference, IMTC Asia 2016 will also host a trade fair. This trade fair will showcase the best companies and institutions that provide money transfer and remittances in India and the rest of South Asia. International companies that serve the region’s migrants all over the world, like Ria Money Tranfer, will also be represented.
The South Asian economy is growing rapidly and trade is constantly increasing. Because of this, international payments and transfers are also growing to provide services both to individuals and businesses. These service providers compete with banks on price, service and speed. Vendors and suppliers will now have an opportunity to represent their services and products, in order to acquire new customers and to grow their presence in South Asia.
The first international money transfer and remittance conference in India at a glance:
Monday, September 19: Pre-Conference Day. Registration starts at 8 am. The MTSC Money Transfer System Course taught by IMTC Director Hugo Cuevas-Mohr starts at 9 am. Lunch is served between 1:00 pm and 2:00 pm for Course Attendees only. Trade Fair set-up is in the morning and the fair opens at 2:00 pm. The Course ends at 5:30 pm and the Welcome Reception starts at 5:30 pm and ends at 7:30 pm. Course Students are invited to the Welcome Reception. Government Employees and certain members of NGOs can request to take the course for free.
Tuesday, September 20, 2016. Registration starts at 8 am. The Conference Plenary starts at 9 am. Lunch is served between 1 pm and 2:30 pm and the Afternoon Round Tables follow. Trade Fair is open all day. The Round Tables wrap up at 5:30 pm for a Happy Hour before we leave for our special Night Event in the city.
Attendees will be treated to The Kingdom of Dreams, one of the most entertaining and authentically Indian shows and dinner. Guests can relax after a long day with dance, drama, music, food and local customs and get the opportunity to see the many faces of India.
Wednesday, September 21, 2016. The Conference Plenary starts at 9 am and ends at 1:00 pm with our Mini IPAD & Tablet Raffles at the end of the Conference. Trade Fair is open all morning.
It is still possible to register for the conference, paying online with a credit or debit card or with a US check, an International Wire Transfer (in USD to our US Bank Account, in Euros to our European Account) or Credit Card Payments in Rupees.
There are different attendence options. You can register to the conference only or the pre-conference course in MTSC Money Transfer Systems only. Those deciding to attend both, can do so at a discounted price.
Certain groups and nationalities get discount or be eligible for a free invitation. Those coming from Africa, can inquire with the IMTC about a free invitation. Those coming from certain CIS countries, such as Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan and certain Asian countries, such as Nepal, Bangladesh, Cambodia, Myanmar and Laos can receive a 50% registration discount.