The big news in London fintech circles this week is a reported $250 million fundraising round which has gone to Revolut, the digital banking app that offers a range of money-related products, but is probably best known for its payments technology, and international money transfer service. Read more “Digital Banking App Revolut – London’s Latest Fintech Unicorn Disrupting International Money Transfer, Reviewed”
If you are looking to buy an overseas property, it’s likely that you fall into one of three categories: Read more “5 Of The Hottest Overseas Property Destinations Making Headlines Today”
DBS, the Singapore based bank with a network of 280 branches across 18 key markets in Asia, today announced a partnership with bank messaging service SWIFT to use its Global Payments Innovation service (gpi) to offer 200,000 corporate and SME clients increased transaction visibility and speed for their overseas money transfer activities. Read more ““World’s Best Digital Bank” DBS Launches Real Time Cross Border Payments Tracking Using SWIFT gpi”
Recently we wrote about Tuyyo, a new money transfer app from BBVA bank focused on the world’s most lucrative money transfer corridor – the US to Mexico. This week we learned that the months-old app is already dropping its standard transfer fee. Read more “Tuyyo Money Transfer App Spices Up US to Mexico Remittance By Dropping Transaction Fees”
According to a recent report from auction house Christies, investigating the state of the luxury property market in 2017, the world’s most expensive property can be found in Hong Kong; purchased in 2016 for an eye-watering $270 million dollars. Read more “Deconstructing The Luxury Property Market; From High End Hong Kong To The “Clamour For Glamour” In Canada”
The Spanish bank Santander has announced that it is launching an international money transfer service that will run using blockchain technology in an attempt to take on disruptive fintech startups such as TransferWise and Revolut, who have been eating into banks’ share of a market worth an estimated $600bn per annum. Read more “Santander Breaks The Mould For Banks With Blockchain Based International Money Transfer Service”
Last week we revealed that the remittance corridor between the United States and Mexico is the world’s biggest.
World bank data reveals that the US is the largest global sender of remittances, and Mexico the fourth largest receiver; but now let’s consider how to make international money transfers to and from the world’s biggest remittance receiving country: India. Read more “The Best Options For Sending Money To & From India”
The European market still holds sway over Asia and America when it comes to British companies doing business overseas, according to a new survey from the Institute of Directors. Read more “IoD Survey Reveals British Business Leaders Favour Doing Business With EU Over America, Asia”
The market for international B2B money transfer is worth an estimated $150 trillion, and is set to grow to $218 trillion by 2022, fuelled by disruptive money transfer services, a new report says. Read more “B2B International Money Transfer Volumes Expected To Reach Nearly $220 Trillion By 2022”
The US Mexico money transfer corridor is, by many measures, the largest in the world. It catered for 13 million migrants, according to data released back in 2014, and data from the same period shows that the US is the largest sender of remittances globally, with Mexico the fourth largest receiver globally. Read more “The Best Money Transfer App For Sending Funds To Mexico Is…?”
It may seem astonishing, especially in a world increasingly viewed through a prism of facts, figures and stats, that the UK does not officially measure remittance flows or international money transfers into or out of the country.
But it is true: according to the University of Oxford’s Migration Observatory, which provides “impartial, independent, authoritative, evidence-based analysis of data on migration and migrants in the UK”, estimates concerning the amount of money that is transferred annually between Britain and the rest of the world vary from approximately £1.5bn, to over £16.5bn – a substantial difference, by any measure! Read more “£1.6bn or £16bn? The Amazing Truth About The UK’s Overseas Money Transfer Industry”