Two Billion adults are unbanked, many of whom are migrants who rely on remittance services to send money back to their homes to support their loved ones. Despite the best efforts of the World Bank to reduce the average remittance cost to 5% by 2014, it still stands at greater than 7%.

“Remittances play an important role in reducing the incidence and severity of poverty”, and a drop to 5% would save remitters approximately US$16 billion per year, which could go a long way to helping their families and friends.

At DSS, we support financial inclusion and so we’re building tools to Make Lives Better.