Migrant Remittances Newsletter Vol. 7 No.1
This briefing also highlights that the remittance marketplace and industry continue to trend toward greater innovation. More companies are exploring products and technology vehicles that meet the demands of migrant remittance senders. These include mobile transfer technologies but also expanding operations. Moreover, governments are continuing efforts to enable competition for groups other than banks, such as in Japan, as well as promote cooperative efforts to leverage remittances for development, such as a new initiative by the African Development Bank. Brazil's country profile is presented in this issue, which is considered to be the second largest recipient in remittances to Latin America and the Caribbean.