Connect with us

Technology

Remittance Market Poised for Substantial Growth, Driven by Technological Innovations and Financial Inclusion Initiatives

Published

on

DUBLIN, Feb. 27, 2024 /PRNewswire/ — The “Remittance Market – Global Industry Size, Share, Trends, Opportunity, & Forecast 2019-2029” report has been added to  ResearchAndMarkets.com’s offering.

The Global Remittance Market was valued at USD 738.62 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 5.78% through 2029, reaching USD 1031.45 billion.

Global industry analysis reveals a significant surge in remittance flows with technological advancements and regulatory developments reshaping the market.

The latest industry research publication offers a comprehensive analysis of the global Remittance market, highlighting a robust growth trajectory accompanied by technological innovations and a firm focus on financial inclusion. The study delves into various facets of the market, from migration trends and the impact of fintech to regulatory landscapes and economic conditions.

Technological Transformations Fueling Market Evolution

As per the insightful report, one of the key market trends propelling the remittance industry forward is the rise of digital and mobile solutions. Fintech companies play a pivotal role, introducing user-friendly platforms that simplify cross-border money transfers. Mobile money services have become particularly instrumental in areas where the banking infrastructure is lacking, ensuring that financial transactions are accessible to a wider audience.

Strategic Focus on Competitive Pricing and Consumer-Centric Services

In what is becoming a highly competitive landscape, the market witnesses service providers striving to offer enhanced price transparency and cost-effective solutions. This shift has been instigated by consumer demand for affordable remittance channels and the availability of tools that allow consumers to compare remittance services. Traditional financial players are adapting their strategies, revamping service delivery to align with the evolving expectations of a tech-savvy generation.

Market Driven by Inclusivity and Compliant Operations

Financial inclusion emerges as a crucial theme within the report, emphasizing the need to integrate people lacking traditional banking access into the financial ecosystem. The remittance sector sees the incorporation of simplified regulatory processes that encourage the use of regulated channels, attempting to widen the market’s appeal. Regulatory compliance continues to present challenges, however, with providers navigating a complex global framework. The trend towards digital identity and blockchain-based mechanisms heralds a new era of compliant and secure remittance services.

Regional Developments Highlight Asia Pacific Dominance

The regional analysis outlines the Asia Pacific region as a dominant force in the personal finance realm, with digital advancements and a growing middle class contributing to the market’s expansion. Governments in the region are fostering an environment ripe for fintech innovation, indicative of the potential for sustained market growth in the coming years.

Market Segmentation Unveils the Scope of the Analysis

he report segments the Remittance market based on application, remittance channel, end-user, and geography. This segmentation presents a clear picture of the industry’s current state and future potential growth areas. It provides strategic insights for businesses and individuals within the market ecosystem, highlighting investment opportunities and the importance of understanding user demographics and regional dynamics.

In line with these insights, the report offers an in-depth view of the competitive landscape, analyzing the role of major industry players in shaping the remittance market’s future. As the remittance market continues to evolve, this publication stands as a critical resource for stakeholders globally, outlining the forces driving market transformation and the opportunities inherent within this change.

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the Global Remittance market.

Bank of AmericaCitigroup Inc.JPMorgan Chase & Co.MoneyGram International, Inc.Ria Financial Services Ltd. (Euronet Worldwide, Inc.)TransferWise Ltd.UAE ExchangeWells FargoWestern Union Holdings, Inc.Xoom (PayPal Inc.)

Report Scope

Remittance Market, By Application:

ConsumptionSavingsInvestment

Remittance Market, By Remittance Channel:

BanksMoney Transfer OperatorOthers

Remittance Market, By End User :

BusinessPersonal

Remittance Market, By Region:

North AmericaUnited StatesCanadaMexicoEuropeFranceUnited KingdomItalyGermanySpainAsia-PacificChinaIndiaJapanAustraliaSouth KoreaIndonesiaMiddle East & AfricaSouth AfricaSaudi ArabiaUAETurkeySouth AmericaArgentinaColombiaBrazil

For more information about this report visit https://www.researchandmarkets.com/r/dy26hz

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com    

For E.S.T Office Hours Call +1-917-300-0470 
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716 

Logo:  https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg 

View original content:https://www.prnewswire.com/news-releases/remittance-market-poised-for-substantial-growth-driven-by-technological-innovations-and-financial-inclusion-initiatives-302072673.html

SOURCE Research and Markets

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

NAVEE Launches ST3 Pro and GT3 Pro at CES 2025, Receives UL and TÜV Rheinland Certifications

Published

on

By

LAS VEGAS, Jan. 10, 2025 /PRNewswire/ — NAVEE, a global leader in intelligent short-distance mobility, today announced the North American launch of its flagship electric scooters, ST3 Pro and GT3 Pro, at CES 2025. The event, running from January 7 to January 10, also marks the company’s achievement of two prestigious awards that validate its leadership in smart mobility.

UL verification: Micromobility Performance Range, Energy Consumption and Acceleration

During CES, UL awarded the ST3 Pro-U and GT3 Pro-U with the “Micromobility Performance Range/Energy Consumption/Acceleration” verification. This recognition validates NAVEE’s engineering excellence, with both scooters exceeding rigorous standards for range, energy efficiency, and acceleration. Bryan Bai, NAVEE’s Vice President and Head of North American Sales, and Sherry He, vice president and general manager of Consumer, Medical and Information Technologies at UL Solutions, presided over the award ceremony.

TÜV Rheinland Certification: Range at Max. Speed

Simultaneously, TÜV Rheinland granted the ST3 Pro its “Range at Max. Speed” certification, verifying that the scooter delivers on its promised maximum speed range capabilities. Jay Yang, Vice President of Greater China Electrical at TÜV Rheinland, presented the certification to NAVEE, underscoring the scooter’s exceptional performance standards.

“These launches at CES 2025 represent a significant milestone in our mission to advance smart mobility technology for consumers worldwide,” said Lu Jian, Brand Representative of NAVEE. “The UL verification and TÜV Rheinland certification demonstrate our unwavering commitment to excellence and validate the real-world performance our customers can expect.”

ST3 Pro and GT3 Pro: Redefining Smart Mobility

The ST3 Pro and GT3 Pro represent the next evolution in urban transportation. Engineered for the demands of modern city commuting, these premium electric scooters combine exceptional range and acceleration with sophisticated smart features. The prestigious UL verification and TÜV Rheinland certification affirm NAVEE’s position as an industry pioneer in electric mobility innovation.

About NAVEE

Founded in 2021, NAVEE has quickly emerged as a leader in the global electric mobility market. With a presence in over 30 countries and more than 200,000 users, NAVEE is revolutionizing urban commuting with stylish, reliable electric scooters. The company continues to invest heavily in research and development, ensuring it remains at the forefront of innovation in the electric mobility sector.

For more information, visit: NAVEE Official Website https://www.naveetech.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/navee-launches-st3-pro-and-gt3-pro-at-ces-2025-receives-ul-and-tuv-rheinland-certifications-302347809.html

SOURCE NAVEE

Continue Reading

Technology

Fintech nsave launches investment platform, offering people from distressed economies protection from inflation with compliant and safe investments abroad

Published

on

By

nsave offers trusted dollar, sterling or euro accounts abroad to people from high inflation countries.Customers can now access a range of US equities, ETFs and funds.TQ Ventures leads $18mn financing, with participation from Sequoia Capital, Y Combinator, ACE Ventures, and Proton.

LONDON and GENEVA, Jan. 10, 2025 /PRNewswire/ — nsave, the provider of trusted, compliant accounts abroad to people from countries with high inflation, has today announced the launch of an investment product, enabling people at risk of financial exclusion to protect and grow their wealth.

The company also confirmed an $18mn Series A investment led by TQ Ventures with participation from Sequoia Capital, Y Combinator, ACE Ventures, and Proton Foundation, to accelerate their growth.

Today’s means customers can access US equities, ETFs and soon funds managed by some of the world’s largest asset managlaunchers via the nsave app, subject to onboarding and compliance checks.

By working with regulated financial institutions and banking partners in the UK and Switzerland, nsave offers safe and compliant accounts abroad, democratising offshore services to millions of people affected by high inflation or economic uncertainty in their home countries.

nsave’s customers include young professionals who move abroad and face exclusionary and outdated compliance processes due to their country of birth, alongside people from high inflation economies, who fear their life savings will be wiped out.

Based in London and Geneva, nsave is led by former Rhodes Scholars Amer Baroudi and Abdallah AbuHashem.

nsave CEO Amer Baroudi said: “Our vision is to go beyond just protecting everyday people’s wealth by enabling safe and compliant accounts abroad, but to enable them to grow it, too.”

“For some of our customers, this is the first time they can access trusted investment services securely. We believe your passport shouldn’t determine your path to prosperity. Our compliance-by-design approach enables us to offer services safely to many more people.” 

TQ Ventures co-founder and co-managing partner, Schuster Tanger, said: “nsave is tapping into a massive market of individuals underserved by existing financial services who need secure, stable financial solutions.”

“From the outset, I was impressed by nsave’s unique approach and the strength of their team, no doubt a function of Amer and Abdallah’s own lived experience of these challenges. We’re thrilled to roll up our sleeves with nsave to create a more inclusive financial system.”

Contact:
press@nsave.com

 

Photo: https://mma.prnewswire.com/media/2594677/nsave_Founders_AmerandAbdallah.jpg
Logo: https://mma.prnewswire.com/media/2594678/nsave_Logo.jpg

 

 

View original content:https://www.prnewswire.co.uk/news-releases/fintech-nsave-launches-investment-platform-offering-people-from-distressed-economies-protection-from-inflation-with-compliant-and-safe-investments-abroad-302347105.html

Continue Reading

Technology

Vietnam’s Youth Rally Behind Blockchain: KuCoin Reveals Groundbreaking Insights at VTIS 2024

Published

on

By

HANOI, Vietnam, Jan. 10, 2025 /PRNewswire/ — KuCoin, a leading global cryptocurrency exchange, is excited to share the findings from its second edition of the KuCoin Campus Survey, conducted during the Vietnam Technology & Investment Summit (VTIS) 2024. With 926 participants surveyed from December 3rd to December 4th, 2024, the results underscore the vibrant interest in blockchain technologies among Vietnam’s youth, reinforcing KuCoin’s commitment to nurturing this vital market.

The survey, a key initiative under KuCoin Campus, highlights a strong, positive sentiment towards cryptocurrencies, with 92% of participants optimistic about the future of digital assets. Remarkably, 82% of respondents are considering blockchain-related careers, signaling a burgeoning talent pool eager for development and opportunities within the industry.

Vietnam’s strategic importance to both KuCoin and the broader crypto community is evident as 68% of participants expressed a “very high interest” in blockchain, making it a critical hub for crypto innovations and community engagement. Additionally, 73% of respondents currently hold cryptocurrencies, demonstrating a mature market ready for further expansion and adoption.

The survey also uncovered a significant inclination towards diverse blockchain roles, with data analysis (24%), marketing (22%), and business development (21%) being the most coveted. These insights are invaluable as they highlight the areas of highest potential and interest among the future workforce.

Vietnam has been and will continue to be a key market for us,” said Alicia Kao, the Managing Director of KuCoin. “As the People’s Exchange, we are committed to empowering and equipping this new generation with the tools they need to succeed in the evolving digital landscape.”

View the full report here (EN version, VN Version), or visit KuCoin’s official website for further information.

About KuCoin

Founded in 2017, KuCoin is one of the pioneering and most globally recognized technology platforms supporting digital economies, built on a robust foundation of cutting-edge blockchain infrastructure, liquidity solutions, and an exceptional user experience. With a connected user base exceeding 37 million worldwide, KuCoin offers comprehensive digital asset solutions across wallets, trading, wealth management, payments, research, ventures, and AI-powered bots. KuCoin has garnered accolades such as “Best Crypto Apps & Exchanges” by Forbes and has been recognized among the “Top 50 Global Unicorns” by Hurun in 2024. These recognitions reflect its commitment to user-centric principles and core values, which include integrity, accountability, collaboration, and a relentless pursuit of excellence.

Photo – https://mma.prnewswire.com/media/2595229/image_5002362_11273757.jpg
Logo – https://mma.prnewswire.com/media/2356857/5109491/KuCoin_Horizontal_Green_LOGO_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/vietnams-youth-rally-behind-blockchain-kucoin-reveals-groundbreaking-insights-at-vtis-2024-302347817.html

Continue Reading

Trending