Target C

Reduce to less than 3 per cent the cost for migrants to send money home and eliminate remittance channels with costs higher than 5 per cent.

Could this be your career mission?

Below are employers you could work for, occupations they employ, and education and training programs to prepare you to achieve this target.

Employers

Migrant Resource Centers: Provide information and support services to migrants, including assistance in finding cost-effective ways to send remittances.
Community Credit Unions: Focus on community development and may offer financial services, including remittance options, with lower fees compared to traditional banks.
Migrant Advocacy Groups: Advocate for migrant rights and address the financial challenges faced by migrants, including high remittance costs.
Digital Payment Platforms: Local community-based digital payment platforms or apps that offer affordable remittance services to migrants within the community.
Microfinance Institutions: Provide financial services to underserved communities, and some may specifically address the needs of migrants in terms of remittances.
Cooperative Societies: Owned and operated by community members, cooperatives may provide cost-effective financial services, including remittance options.
Community Development Organizations: May initiate projects aimed at reducing financial barriers for migrants, including remittance-related initiatives.
Ethnic Chambers of Commerce: May work to facilitate economic connections within migrant communities, including efforts to reduce the costs associated with remittances.
Technology Incubators for Fintech: Organizations that support the development of financial technology startups could foster innovations to reduce transaction costs for remittances.
Local Government Initiatives: Some local governments may implement programs or partnerships with financial institutions to provide affordable remittance services to migrant populations.

Training

Financial Management Courses: Provide individuals with the skills to analyze financial data, manage budgets, and make informed decisions regarding cost-effective remittance solutions.
International Finance and Economics Courses: Understanding global financial systems and economic trends is crucial for professionals working in organizations dealing with cross-border transactions like remittances.
Project Management Certification: Equips individuals with the skills needed to plan, execute, and monitor initiatives aimed at reducing transaction costs for migrant remittances.
Data Analytics and Business Intelligence Training: Learning how to collect, analyze, and interpret data is essential for identifying areas of improvement and cost reduction in remittance processes.
Technology and Fintech Courses: Professionals in this field need a solid understanding of the technology and digital platforms that facilitate remittance transactions. Courses in financial technology (fintech) are particularly relevant.
Compliance and Regulatory Training: Given the regulatory landscape surrounding financial transactions, individuals working in this field must be well-versed in compliance requirements and regulations affecting remittances.
Cross-Cultural Communication and Community Engagement Training: Training in cross-cultural communication and community engagement is important for building trust and understanding the unique needs of migrant populations.
Customer Service and Relationship Management Courses: Providing excellent customer service is crucial in the remittance sector. Training in customer service and relationship management ensures professionals can address customer needs effectively.
Legal Studies or Law Courses: Understanding the legal aspects of financial transactions and international regulations related to remittances is important for roles involving policy compliance and legal advisory.
Public Policy and Advocacy Training: Professionals engaged in advocating for policy changes that support affordable remittance options benefit from training in public policy, advocacy strategies, and regulatory affairs.

Occupations

Financial Analysts: Analyze financial data and market trends to identify cost-effective solutions for remittance services.
Project Managers: Oversee the development and implementation of projects aimed at reducing transaction costs for migrant remittances.
Data Analysts: Collect and analyze data related to remittance transactions to identify areas for cost reduction and optimization.
Technology Specialists: Develop and maintain the technological infrastructure, including digital payment platforms, to facilitate affordable remittance services.
Compliance Officers: Ensure that the organization complies with relevant financial regulations and international standards governing remittances.
Community Outreach Coordinators: Engage with migrant communities to understand their needs, raise awareness about affordable remittance options, and build trust.
Legal Advisors: Provide legal guidance on financial regulations, contracts, and compliance issues related to remittance services.
Customer Service Representatives: Assist migrants in navigating remittance processes, answering inquiries, and addressing concerns to enhance customer satisfaction.
Marketing Specialists: Develop and implement marketing strategies to promote the organization's remittance services, emphasizing their affordability and benefits.
Policy Advocates: Work on policy initiatives at local, national, and international levels to create an enabling environment for reducing transaction costs in migrant remittances.

Back to Goal 10 Targets

Reduce to less than 3 per cent the cost for migrants to send money home and eliminate remittance channels with costs higher than 5 per cent.

Could this be your career mission? Below are employers you could work for, occupations they employ, and education and training programs to prepare you to achieve this target.

Employers

Could this be your career mission?

Below are employers you could work for, occupations they employ, and education and training programs to prepare you to achieve this target.