IPTMA Press Release 22nd August 2016

PRESS RELEASE   IPTMA PARTNERS WITH THOMSON REUTERS TO PROVIDE WORLD-FIRST PLATFORM FOR FINANCIAL INSTITUTIONS TO MANAGE AND MITIGATE RISK   IPTMA also expands globally with office openings in Hong Kong and Dubai   SYDNEY, 22 August, 2016 – The International Payment & Transaction Monitoring Association (IPTMA) today announced a new partnership with Thomson Reuters to provide subscribers with a global risk management and screening solution (World-Check) channeled through IPTMA’s recently launched platform,…

Bank “de-risking” accelerates disruption of Australian remittance sector

By :- Nathan Lynch, Regulatory Intelligence, Thomson Reuters   The de-banking of Australian remittance providers has created a perfect opportunity for global digital payment companies to expand their offerings in the jurisdiction, sources said. The traditional small-scale “bricks and mortar” remittance industry is facing a combination of regulatory challenges, bank account closures and the threat…

Is access to banking a human right?

Muhammad Yunus, founder of the Grameen Bank, argues that access to credit is a ‘human right’. The theory behind this concept is that by providing impoverished people with access to credit they are provided with a means to alleviate poverty. Yunus founded the Grameen Bank for the purpose of helping the poor obtain economic self-sufficiency…

Saving the Remittance Companies from Closure – SBS radio interview

As a follow up on a recent interview with a successful entrepreneur in the money remittance industry, we spoke with Thyer McCaffery, the brain behind a platform that endeavours to save the remittance companies from closure. Listen to the full interview: Saving the Remittance Companies from Closure McCaffery’s far-reaching knowledge of current economic, social and regulatory…

The Rewards of Banking MSB Clients

To quote Warren Buffett, “Risk comes from not knowing what you’re doing”.   When unknown risk is channelled through the IPTMA programme the risk becomes calculated allowing a bank to stop focusing on unknown risk and start a culture of informed calculated risk leading to financial reward – which is the fundamental businesses practice behind banking.…

De-banking, debunked: Cloud-based due-diligence offers glimmer of hope for remitters

Dec 18 2015 By Nathan Lynch, Regulatory Intelligence The Australian remittance sector is pinning its hopes of survival on a new cloud-based platform that proposes to allow banks to conduct enhanced due diligence on payment providers, their customers and fund recipients. A former Westpac executive is spearheading the new industry-driven solution, which was created in…