IFAD Remittance Innovation Toolkit
This toolkit provides guidance on improving access to secure and swift remittance services through enhanced identity verification and customer due diligence (CDD) practices.
Promoting financial inclusion through digitalization of remittances - IFAD
Welcome Popup disabled (visible only in edit mode)
Publication | 14 June 2024
Promoting financial inclusion through digitalization of remittances
This report highlights the transformative power of digital solutions to enhance financial inclusion and reduce remittance costs. It showcases best practices for digital remittance adoption, and underscores commitments to enhance remittance efficiency and customer experience.
The publication reveals that digital remittances significantly cut costs. Sending US$200 digitally costs 4.60% compared to 6.89% for cash transfers. Mobile-to-mobile transfers are even lower at 4.11%. Digitalization also improves remittance speed, security and access, offering a gateway to financial inclusion and resilience.
Resources