the mif blog

Stories of inspiring entrepreneurs and organizations, discussion and commentary of new trends in private sector development, and the latest events and publications.

Understanding Payment Systems in the Times of Fintech

By Lukas Keller

Payments are nowadays widely considered to be gateways for financial inclusion. Withdrawing money or repaying a loan are basic financial transactions without which traditional financial products like credit, savings and insurance would not be possible.

Latin American and Caribbean migrants in Chile – better off in the neighborhood?

By Lukas Keller

To most people, Jean Beausejour is known for playing on the Chilean national football team, where his latest successes include winning this year’s Copa America. A lesser-known fact about this son of a Port-au-Prince-born father and a Mapuche mother is that that he is arguably the most famous representative of one of the fastest-growing immigrant communities in the country: the Haitian-Chileans.

As remittances to Latin America and the Caribbean continue to grow, how do we ensure they benefit households in the long run?

By Lukas Keller

2015 was a good year for remittances to Latin America and the Caribbean (LAC). They grew to a new record high of US$65.7 billion, as shown in a new report published last Friday by the Center for Latin American Monetary Studies (CEMLA, for its abbreviation in Spanish). 2015 also brought confirmation that the growth of remittance flows to Latin America and the Caribbean (LAC) is sustained. The previous year, they had already reached an all-time high of US$62 billion, signaling a recovery from the global financial crisis.

Making each transfer count – How Bancolombia helps transnational households save and invest

By Lukas Keller

Imagine Juan Pablo and Carolina, a typical Colombian working-class couple and parents of two living in Medellín. After years of saving, the two wish to finally buy a house for their family in a quiet suburb of the city. The property the couple is looking to buy costs around five times the amount they can put together, which is why they approach their bank, Bancolombia, about the terms of a mortgage loan to cover the outstanding amount.