The International Remittance Market
James Defrantz, CRCM, CAMS, J.D. has 30 years of experience in financial service regulatory compliance. He was worked with money service businesses in the United States and internationally, including consulting with money remitters, Fintech lenders and foreign exchange firms. He is a specialist in compliance in consumer and real estate lending; BSA; CRA; Fair Lending; Consumer Operations; Non- Deposit Investment Products; Note Department Operations; Assessment of ALL and Credit Approval Process.
He has served as a Senior Compliance Examiner at the Federal Reserve Bank in San Francisco; as an Analytical Manager at the Office of Thrift Supervision; and as a Commissioned National Bank Examiner at the Office of the Comptroller of the Currency (OCC). He has a Certificate from the Pacific Coast Banking School of Bank Management, a Juris Doctor from the University of San Francisco with a concentration in banking and finance, and a BA from Dartmouth College. He is a Certified Regulatory Compliance Management and Certified Anti- Money Laundering Specialist.
The presentation will discuss the current state of the remittance market, the opportunities that the market presents for financial institutions. We will address the negative, characterizations of the market and offer solutions to address regulatory concerns.
The international remittance market is a stable, well - established market that can provide great opportunities for no-interest income for small and medium-sized financial institutions. In recent years, financial institutions have shied away from this market due to regulatory pressure. However, there are many ways to address this pressure and bank these entities successfully.
- Description of the Remittance market
- The current trends
- Opportunities for income
- Regulatory concerns
- Solutions to address regulatory concerns
Course Level - Intermediate
Who Should Attend
Management at small to moderate financial institutions
Why Should Attend
A large number of unbanked and under banked persons use the international remittance market. These people are your future clients and make up the bulk of customers who are using Fintech companies. The failure to look into this market represents a large opportunity cost for financial institutions.