In an interview with BusinessWorld, UniTeller Philippines President, Noel Fernando Cristal shared that while the prospects for OFWs remain clouded, signs of resilience and relief have begun to signify that the worst may have passed.
Find out which markets Noel believes would continue to be bright spots for overseas employment for OFWs here.
In an interview with Manila Bulletin, CEO Alberto Guerra shared that his outlook for 2021 remains positive as the global economy rebuilds. He expects digital transactions to gain momentum as national government agencies and fintech players continue improving the infrastructure and channels for cashless transactions.
He said, “The remittance industry will continue to be resilient if we apply the lessons from the past 12 months” pointing out that digital remittances should be emphasized as the way forward in order to achieve greater financial inclusion and access, particularly for unbanked communities.
Read here to find out more about his interview.
With the pandemic affecting many OFWs working in global tourism, airport services, shipping, and other such industries, UniTeller Philippines President, Noel Fernando Cristal shared with BusinessMirror his views on why it’s important for remittance-receiving families to explore other sources of livelihood outside of labor migration to survive this pandemic and beyond.
UniTeller published a new report which highlights the reliance of low-income families in Asia on remittances and reveals that senders of remittances are willing to continue making sacrifices to support their families back home.
The report, titled Both Sides of the Coin: The Senders’ Story, is the second instalment of UniTeller’s research into the behaviors and attitudes of senders and receivers of remittances from low-income families across Asia.
Both Sides of the Story – The Senders’ Story full report can be downloaded here.
News articles covering UniTeller’s report:
Business World | The resilience of remittances
In tandem with the launch of UniTeller’s inaugural report Both Sides of the Coin: The Receivers’ Story, a press briefing was held at UniTeller’s Philippines office.
Nine key business media were present at the press briefing including top-tier local and regional publications such as BusinessWorld, BusinessMirror, GMA News Online, Philippine Daily Inquirer, Nikkei Asian Review and Bloomberg.
Alberto Guerra, CEO, and Noel Fernando Cristal, President and Country Director of UniTeller Philippines, shared and discussed key report findings and the behaviors and attitudes of remittances receivers in Asia.
Following the presentation, both Alberto and Noel were interviewed by two major television networks in Philippines, ABS-CBN News Channel and PTV News where they highlighted the significant role that remittance providers play in digitalising international money transfers and increasing financial inclusion for these remittance receivers.
Over 40 stories were published across prominent local and regional publications, raising UniTeller’s profile and highlighting its thought leadership in the area of remittances and payments in Asia.
Both Sides of the Story – The Receiver’s Story full report can be downloaded here
News articles covering UniTeller’s inaugural report can be found below:
PH 4th largest remittance destination
US-based int’l payments provider eyes partnerships with PH telco, banks | The World Tonight
Remittances: lifeblood that extracts its pound of flesh
Migrant Workers Send Three Times as Much Money as Their Spouses Earn Each Month
Low-income households benefit enormously from remittances: study
Low-income households benefit enormously from remittances: study
Monthly Remittances Exceed Earnings of Low-Income Vietnamese Households by 10 Times
Filipino households spend 7% of earnings on luxury items
Relatively high’ portion of OFW remittances spent on luxury items — report
OFW remittances hit all-time highs, but families still run out of cash
US-based int’l payments provider eyes partnerships with PH telco, banks
‘Relatively high’ portion of OFW remittances spent on luxury items — report
Reliance on remittances in India, Philippines growing: study
Dependence on remittances growing, says study
MTO: Going cashless can cut remittance cost to 3%
Remittances exceed poor household earnings by 2.5 times
OFW remittances higher than incomes of recipients – report
Report: Remittances outpace local monthly incomes
Monthly Remittances Exceed Earnings Of Low-Income Filipino Households By 2.5 Times
Monthly remittances to India thrice the earnings of low-income households in the country: Report
Reliance on remittances in India, Philippines growing: study
Survey: Receivers of overseas remittance in PH prefer ‘semi-digital’ method
CEO, Alberto Guerra shares his views with The Business Times Singapore on how the digitalization of the cross-border payments industry has led to increased financial inclusion and access for low-income communities in the world.
“The digitalization of the cross-border payments industry has enabled major breakthroughs in the convenience and reach of financial services. As business leaders, we should conduct business with sustainable development as a priority even as the industry continues to evolve. With a significant population of the developing world that is still largely ”unbanked”, the responsibility is on us to champion innovative solutions that improve financial inclusion and access. By ensuring that consumers can fully harness the benefits of these technologies, we can then help to bridge inequality and build a better economic future for many of the world’s communities.”
You can find his commentary here.
CEO, Alberto Guerra shares his views with Philippine Daily Inquirer on why the continuous digitalization and innovation of remittances is key to driving more sustainable developments globally.
By ensuring that consumers can fully leverage the services provided by money transfer companies, and improving financial education around the technologies available in this growing industry, those in the forefront of digitalizing remittances can help to bridge worlds and build a better and brighter economic future for all.
You can read his full article here
CEO, Alberto Guerra had an opportunity to speak with Money 89.3 FM (Singapore’s personal finance and business radio station) on why Asia is an important remittance services market for UniTeller.
You can listen to his full interview here.
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