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.

I'm out of here: Monday remittances in Mexico

By Maria Luisa Hayem

Millions of people in Latin America and the Caribbean are affected in some way by migration. The women on whom I will focus in this blog face many challenges from the moment they decide to migrate. First, they say goodbye to their families, not knowing when they will see each other again.  Then they must adapt to the country that receives them and find one or more jobs that will allow them to earn enough money so they can send some home to their country of origin, which is the reason many of them originally chose to leave.

How to provide savings products to remittance clients: A new guide

By Guest


By Elisabeth Burgess, author of Inclusive Savings for Remittance Clients: A Practical Framework 

En español

Last month, a manager at a Latin American microfinance institution told me he’d been tasked with revamping the company’s strategy to promote savings products among its low-income clients, while simultaneously overseeing its growing international remittances business. As he brought together the two business units under his leadership, he wondered: Could migrants and their families be a good target market for savings products? 

 

The importance of a client-based approach to designing products for remittance recipients in Paraguay

By Rebecca Rouse

 Versión en español

When Paraguayan bank Banco Familiar (“Family Bank”) set out to design a savings product for its remittance clients in 2012, it did not expect that they would use the accounts to accumulate savings. In that year, the bank was handling nearly 54,000 remittance payments each month through its network of branch offices, and imagined the clients would use the new accounts to receive and then quickly spend their remittances. 

Remittances and Savings: Where’s the On-Ramp?

By Rebecca Rouse

 

This blog post was originally posted In the ProSavings blog. Click here to read the Spanish version.

We talk about remittances as being the perfect on-ramp for savings, in part because recipients can choose to move part of their electronic funds to a savings account before the remittance becomes cash, creating opportunities to avoid impulse spending and automate behaviors (see my blog post on defaults from last spring).  But what happens to the equation when the remittance sender is only transacting in cash?

Innovación en Productos de Remesas, ¿En la Tierra o el Espacio?

By Georg Neumann

Innovación en Productos de Remesas, ¿En la Tierra o el Espacio?

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