Connected Money: its global growth potential, and what the experts are saying
When certain forces come into play at the same time, they become a powerful force whose impact can be far reaching. Take, for example, the international remittances market and the vast opportunities it brings to banks and other financial services providers.
In this case, the forces at play include the proliferation of inexpensive smartphones, the growing economic influence of tech-savvy millennials, the increased usage of mobile phones for sending and receiving money, and multiple workforces moving to stronger economies.
It’s no surprise then that this has resulted in a massive global remittance market, estimated at $575 billion in 2016 alone, according to The World Bank (Business Insider). And this is only expected to skyrocket with the growing globalization of the workforce and the increased sophistication of technologies that enable the fast and easy transfer of funds.
For banks and service providers evaluating technology solutions that will help them capitalize on the opportunity, the choice might seem difficult.
Juniper Research, a leading analyst research firm and expert in this domain, published a critical and detailed benchmark report "Mobile Money Transfer & Remittances Domestic & International Markets, 2015-2020 Market Trends & Competitive Analysis" that compares the leading vendors in this space across key capabilities and positioning in the marketplace. The report covers everything from geographical reach to technological prowess.
We invite you to review how each of the 12 vendors evaluated ranks in terms of capabilities, capacity, product, and position. Amdocs Mobile Financial Services is proud to have been highly ranked across almost every parameter, greatly outperforming competing solutions in almost every category. This was also true of Amdocs Mobile Financial Services mobile money solution.
Download the report today to find out how this diverse vendor group ranks in other domains such as extent of partnerships, mCommerce, money transfers, and customer experience.