Remittance Reporting and Analysis System

Based on recent consultations with over 30 regulators, central banks acknowledge that the way they think about remittances data is changing, as there is an ever-growing need for detailed insights and automated and data driven systems. Understanding remittances markets requires more than measuring access to finance and remittance volumes: it will also require an assessment of the quality and use of remittance services and key positive impacts of remittances on sustainable development outcomes such as inclusive economic growth, financial resilience and gender equity. One way to strengthen the policies and processes that facilitate the understanding of remittances markets is to leverage technology to drive efficiency and sustainability, reducing costs and improving overall efficiency, in capturing, monitoring and analysing remittance flows to inform policymaking, private sector investment and product development.