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Remittance Keeps Families together at Christmas

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The globe is witnessing the start of the peak festive trading season, Black Friday. It is hoped that this year's Black Friday will be different from 2020, heavily impacted as it was by COVID-19 and lockdown. It's that time of the year where people rejoice together with their loved ones. It was noted that Kenyans living abroad are sending more during the festive season to support loved ones over the Christmas period. Even though expats are living in another nation are sending dollars with care to their families. According to the report, families rely more on the extra funds transferred during the season to enjoy Christmas. ANTOINETTE MCKENZIE, a 32-year-old mother of an expat, depends on remittances in mid-December to ensure her Christmas is indeed merry. If the mother does not receive the funds, she will be unable to host her annual Christmas dinner. McKenzie added that the transfer fees from the United States of America are traditionally higher than what is sent for the other
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FinCEN acknowledges that all Priorities does not apply to every financial institution.

Some international organisations estimate global environmental crimes to produce hundreds of billions. Now it ranks as the third-largest illegal activity of the world following the trafficking of drugs and counterfeit goods.  https://blog.atlmoneytransfer.com/fincen-alerts-the-rise-in-environmental-crimes/
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Only 9% of Former Branch Loyalists Visited the Branch

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  Businesses and consumers are reverting to their pre-pandemic patterns, but there is a change in their behaviours. Now banking customers are visiting less to banks because they have an online or mobile banking feature at their disposal. As a result, the drive to digitisation highlights the perks of online banking, with 46% of United States consumers converting "digital shifters." Only 9% of former branch loyalists said they visited a branch more since the pandemic started. Customers are enthusiastic to try new technology. However, the acceptance is not the same for older generations due to hesitation to embrace fully digital financial profiles. Unfortunately, banks and other financial institutions (FIs) lost their trust during the 2020 digital shift, which may be attributed to the dehumanisation of the banking space. According to the study, banks adopt personalised digital banking channels to retain customer satisfaction while growing digitally. “55% portion of the consumer
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The Role of RegTech in the Digital Transformation of Financial Services

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Investments in technology are increasing at a rapid pace across the financial services sector. The desire to cut costs for customers, improve compliance across the domain and enhance customer service and productivity drives all these investments. As the predictable and uniform state of financial services in the pre-crisis times has eroded, new challenges have emerged for traditional financial institutions. Established financial services had to evolve with increased agility to enhance business performance to stay relevant. Since then, new start-ups have transformed the industry structure by introducing their innovative digital products and services that challenged the traditional status quo. Such a solution's disruptive nature has had a severe impact across products, services, delivery models, consumer engagement, business models and existing infrastructure . Fighting the Crisis of 2008 The financial crisis of 2008 was the moment of truth for the financial services sector. Inadequat
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