Money Transfer Alliance – Is it possible?

Backstory on Money Transfer Alliance

For months I was obsessed with the idea of creating an alliance. People were skeptical, I was not. I was committed to it. The idea came about, from a question: “What are the small and medium money transfer businesses doing to remain competitive today?” Turns out, the best way to answer this question was to ask them.

The long and short is: They are hurting.

I did not have a solution, just bits and pieces. Then I read this article on Oyo Rooms – (21 Year old building India’s largest hotel network). One just has to read this article and juxtapose that thought to independent Money Transfer/Money Exchange companies world over and realize the potential.

I decided to concentrate my efforts in the US first. The US has a very expensive and restricted licensing regime for MSBs. If one could Uberize it – the benefits are enormous. Hence the idea of a Money Transfer Alliance.

I first wrote about the Uberization of Money Transfer a couple of months ago, and now that we’re gaining traction and interest from all parties, the Money Transfer Alliance Program page went up.

The presentation on that page can be downloaded from here.

In the coming days, more information would be published, including webinars that would be starting from next week to make people understand the power of an aligned network.

Stay tuned.

 

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