In todays time we have thousands of companies who are into cross border remittances or International remittances business. How many have robust, scalable, fully complaint and 100% automated systems? The answer to this question is 100% if asked from those remittance service providers directly but central banks might be able to give data which is more authentic and correct. What is the need and why systems are important and critical success factor in this business. How much importance to be given to its basic components i.e License, Eco-System, Compliance & regulatory frame work etc, is a difficult question to answer.
When it comes to integrate country specific payment systems to new Partner’s remittance system. The lack of guidelines for the successful regional integration of Financial Infrastructures/Payment systems comes into play.