INDUSTRY ASSOCIATIONS AROUND THE GLOBE

Here is a directory of the Non-Bank Financial Institutions (NBFIs) associations from a number of countries in the world. Most of them are associations of Remittance Service Providers (RSPs), Money Services Businesses (MSBs), Payment Institutions (PIs), Virtual Currency Firms but also Mobile Money Operators (MMOs), Payment Service Providers (PSPs), Forex Exchange Service Providers and Fintechs.

Most of the members of these associations are regulated entities in one or more jurisdictions. If your association is not included in this directory, please let us know and we will include it.

Financial Services Associations

The Non-Bank Financial Services Industry is a very diverse sector. Although Non-Bank Financial Institutions (NBFIs) predated Banks by hundreds of years it was only in the last two decades that this industry has consolidated and grown. NBFIs are very diverse worldwide. The International Money Transfer, Remittances & Cross-Border Payments Industry has grown from the provision of services to migrants and their need to send money home to a worldwide industry serving people & companies moving money across borders. Some Banks have partnered with the industry especially in receiving markets. Globalization and the increase in the need for faster and cheaper international movement of funds & payments (P2P, P2B, B2P, and B2B) with the help of the technology developments and the innovation and creativity of the fintech sector, have made this industry large and prosperous. Innovation in this sector is amazing, from mobile money, cash distribution networks, blockchain protocols & cryptocurrency exchanges, everyone is contributing to making this industry evolve at a rapid pace.

The size of the industry is hard to establish. Money Transfer Expert & IMTC Director, Hugo Cuevas-Mohr estimates the industry moves more than 1 Billion dollars a year, about 60% being Remittances – see more. See his latest article: Four industry trends that are reshaping the industry published in May 2019. See also the US MSB Industry report, the first of its kind, released September 2018 by the US Conference of State Bank Supervisors.

The heterogeneity of the industry has made it difficult for trade associations to flourish, assemble a large member base and become true representatives of the industry. Associations listed here are mostly made by NBFIs and that is why we list them here in an effort to support their work. If we don’t have you here contact us!. If you don’t want to be listed, let us know.