Remittances: Harnessing the $1 Trillion Remittance Market to Accelerate Access to Inclusive Finance

It is estimated that the money international migrants send home annually exceeds US$1 trillion (including informal transfers) and is significantly higher than overseas development assistance and foreign direct investment received by nearly all developing countries. Previously ignored or misunderstood, nations are beginning to recognize the significant benefits that remittances can bring to their economies and how they can be a catalyst for greater financial inclusion.

The workshop will cover the following issues:

3rd Asia Finance Forum: The Future of Inclusive Finance

The Third Finance Forum envisioned the future of inclusive finance by discussing how new technologies like artificial intelligence, big data, and blockchain, the rapid expansion of mobile payments and digital banking, are helping to bring financial services to unbanked communities. Under its overarching theme, “The Future of Inclusive Finance”, featured sessions on:

Lisette Cipriano

Keywords

Lisette is passionate about mobile financial services and their impact on poverty alleviation. She has in-depth expertise in payments, card acquiring and issuing, and alternative payment methods having worked in Europe, Africa, and Asia and the Pacific. She is currently working as a Senior Digital Technology Specialist in the Finance Sector Group at the Asian Development Bank.

Digital Financial Services and Financial Inclusion in the Pacific: Opportunities and Challenges

The Pacific Islands region is one of the least banked in the world. Digital finance could emerge as a major instrument in making financial services reach a larger population in the region by overcoming traditional constraints. However, several challenges remain in the way of digital finance itself which need to be overcome if its true potential for enhancing financial inclusion is to be realized.

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