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Contribution Details
| Type | Bachelor's Thesis |
| Scope | Discipline-based scholarship |
| Title | The Economic Influence of FinTech on Remittances |
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| Institution | University of Zurich |
| Faculty | Faculty of Business, Economics and Informatics |
| Number of Pages | 41 |
| Date | 2021 |
| Abstract Text | Remittances are international transfers of funds that are most commonly sent from migrant workers to their families in their home countries and represent an important source of income for more than 800 million recipients around the world. According to the World Bank’s estimates, remittance service providers charged 6.75% of the transferred amounts in Q3 of 2020 on average. The United Nations believes that a reduction of transaction cost would contribute to more equality across the globe, as remittances are primarily sent from high-income countries to low and middleincome countries. Since FinTech has been the major source of innovation within the financial industry in recent years, the thesis analyses whether it represents the necessary development to improve the situation and bring prices down. |
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