nConsumer Remittance Opportunity:
nUS International remittance market is currently
estimated at $50 Billion
n
nConcentration:
nMexico remittances market is $14 Billion
nIndian remittances market is $11 Billion
nLatin America & Caribbean remittance market is $32
Billion (2002)
n69% of all Latinos living in the US send remittances
(Bendixen 2002)
n75% of all Latino remittances come from the United
States (Orozco 2003)
n44% of all Latinos lack bank accounts in the US (SRC
2002)
n
nNon-Banks Dominate the Market:
n45% of remittances are processed by informal
networks
nBanks share of remittance business is estimated at 9%
(Nilson) and 16% (Celent)
nMore than 50% of total volume is distributed by
financial institutions offshore
(Orozco 2003)