RemitSCOPE - What is it?
RemitSCOPE responds
to a call from industry
and others for improved
data on remittances
RemitSCOPE is home to up-to-date, remittance and remittance related market intelligence. It is a central repository of the latest data that brings together data that is otherwise scattered across different organisations and agencies and primary research.
Quality, timely, accurate and readily available data is needed to inform business decisions. Informed business decisions in turn lead to innovation, product development, new market expansion and increased competition improving access and lowering costs.
RemitSCOPE showcases what data is available and where and highlights the gaps and weaknesses in our knowledge.
Over time, RemitSCOPE tracks the progress of improved data, especially in compiling improved remittance data by corridor and channels.
RemitSCOPE brings more transparency to the operating environment and market structure of remittance markets; informing business decisions and driving competition.
RemitSCOPE forms part of a larger agenda to improve the quality, availability and disaggregation of remittances data globally to inform government policies, achieve financial stability, support AML-CFT, promote competition and inform new product development.
As data availability improves RemitSCOPE will also develop to showcase these data developments through new dashboards and market insights.
Carefully selected
and collected indicator,
standardised across
countries
RemitSCOPE Africa compiles the most-up-to-date and trusted remittance and remittance-related data across 54 countries in Africa.
RemitSCOPE showcases data on remittances, migration, remittance pricing, financial inclusion, digitisation, operating environments and market structure.
Remittance markets are dynamic, varied and complex with many different stakeholders and factors to take into consideration in analysing and understanding markets trends, drivers and opportunities. These include who and where the diaspora are, who and where the remittance beneficiaries are, the regulators and supervisory environment, the payment system infrastructure and level of digitization, access to ID, the currencies, basic supporting infrastructure, and the remittance service providers and competition across the value-chain.
Indicators have been carefully selected to collectively allow stakeholders to understand and assess remittance markets and identify opportunities. RemitSCOPE is evolving and will continue to include additional indicators and market intelligence.
RemitSCOPE brings together data from secondary sources, that are usually scattered in different organisations and agencies, as well as collecting data through primary research and directly from market operators and regulators.
RemitSCOPE is committed to providing the most up-to-date data available through regular updates, and through clear sourcing, referencing and information allowing the user to understand the robustness of the data available.
RemitSCOPE plays a key role in standardising remittance and remittance-related data across countries, regions and continents, allowing people to compare and contrast between place. RemitSCOPE is setting the standard for remittance and remittance-related data across continents, bringing transparency to what data is available.
Interactive dashboards,
indexes
and Country Profiles
RemitSCOPE allows the user to interact with the RemitSCOPE database through a series of dashboards arranged by thematic area. RemitSCOPE guides the user in how to use and interpret the data and information available.
The interactive dashboards allow the user to cut and analyse the data according to their countries and areas of interest. Graphics and data are downloadable.
Through the compilation of Indexes designed by industry experts, RemitSCOPE brings additional market intelligence to the data, showcasing different data points in conjunction with one another.
RemitSCOPE offers a deep dive into every countriy’s individual remittances market in a standard format for ease of comparison.
As new remittance data becomes available, new dashboards will be developed on RemitSCOPE to allow the users to analsyse and compare this data across countries.
Up to date remittance
market diagnostics
and market insights
to achieve SDGs
RemitSCOPE publishes Remittance Market Country Diagnostics on certain countries. Remittance Market Diagnostics are conducted with a view to reducing the cost of remittances, increasing financial inclusion of remittance senders and receivers, increasing digitization and reducing the use and reliance on informal remittances in those countries.
Remittance Market Country Diagnostics provide in-depth analysis of remittance markets compiling the insights of regulators, service providers and industry experts. Remittance Market Country Diagnostics are kept up to date with the most recent data and recent market developments and recommendations.
Who it is for
Remittance service providers
Remittance service providers include money transfer operators, mobile money operators, banks, FinTechs, eMoney issuers, payment service providers, the Post Office, crypto-exchanges and other non-bank financial institutions.
Quality and timely data is needed to inform and underpin business decisions including product development, market entry, market expansion strategies and to effectively respond to consumer needs. RemitSCOPE data compiles the most up to date remittance data available over time and by corridor, as well as key information on the operational environment, regulatory environment, the existing market participants and potential partners.
RemitSCOPE is built for remittance service providers. The remittances value-chain is based on, built on and relies on partnerships. RemitSCOPE relies on the intelligence and market insights from operators in the market to bring better transparency and market understanding.
RemitSCOPE is in line with promoting the wider aims of the G20, the EU, IFAD and the PRIME Africa project to increase competition in the market, drive down costs, improve access and reduce the use of informal services.
Policy makers and regulators
RemitSCOPE provides standardised indicators across countries, from remittances to regulations to market structure. This allows policy makers to benchmark and compare remittance markets across countries, regions and continents. RemitSCOPE brings transparency to how different conditions, regulations and licencing environments are restricting or enabling operating environments and allows the user to review the impact against remittance flows and pricing. RemitSCOPE showcases good practice in operating environments, providing aspirational indicators, and showcases countries committed to improving remittance and remittance-related data.
Donor organisations
RemitSCOPE is for donor organisation and development finance institutions to use data to better understand remittance markets. RemitSCOPE helps to identify weaknesses and where support is needed to improve market conditions. RemitSCOPE supports a data-led approach to program design to work towards achieving the Sustainable Development Goals and the UN’s Global Compact for Migration.
Academics, researchers and media
RemitSCOPE is a free-to-use, central repository of up-to-date remittance market information. RemitSCOPE compiles the latest data and market intelligence available over-time and provides clear referencing and sourcing. RemitSCOPE is easy to use, to navigate and to explore relationships between indicators and cross countries.
