Crafting a Money Transfers Strategy: Guidance for Pro-Poor Financial Service Providers

  • Date Posted: June 2, 2010
  • Authors: Jennifer Isern, Rani Deshpande, Judith van Doorn
  • Organizations: Consultative Group to Assist the Poorest
  • Document Types: Tool
  • Donor Type: Non-Governmental Organization

This CGAP paper tells how financial service providers can attract and retain clients by providing money transfers, warning against pitfalls and providing a number of case study examples.

The paper focuses on 6 key steps for MFIs hoping to offer remittance services:

  • Understand client needs and preferences.
  • Know your competition.
  • Comply with regulation.
  • Assess capacity - yours and your country’s infrastructure.
  • Project volumes and costs.
  • Focus on marketing.