Tomorrow we will run the first Innotribe session at a MERC conference, here in Abu Dhabi.
I wanted to share the introduction to this session (followed of course by a 2 hours workshop) because Mela (@mela_atanassova you rock) did an AWESOME job in putting the challenges and the facts that will put the debate in context: is Remittance still a good business ?
Reasons that make this not a trivial question are multiple:
– immigration / emigration context is changing (unemployment youth 30% in UAE , so limiting immigration is compelling)
– regulatory pressure increasing ( Dodd frank law in US, going up to guarantee operation abort within 30 min)
– technology increasing – lower margin (world bank report, Middle East to Pakistan has the lowest margin)
– established channels are hard to fight
– users now care about speed, reach,reliability (tracebility) and price .. They re evolving in their behavior
This VIDEO will be opening the session: check it out!
Needless to say, more to come, live reporting from the conference.