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Title: Bridging the 'gap' between migrants and the banking system : an innovative business model promoting financial integration, financial stability, and profitability
Author: Ivens Pitta Ferraz, Duarte
Awarding Body: Nottingham Trent University
Current Institution: Nottingham Trent University
Date of Award: 2012
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The thesis probes a specific area - the banking system and the business niche concerned with migrants' remittances - and considers the flows of these people and their money in today‘s global economy (over 3% of the world's population). It argues that the banking system has failed to understand the changing "paradigm" of the migrant market and thus has not updated its business plan or business model for this business segment in response. In failing to harness the liquidity of the migrant market, the author argues, the banking industry is missing out on a potentially profitable business segment that could create financial stability within the industry and the world's economies. Furthermore, by ignoring the "gap" that exists between the financial products on offer to the migrant sector and their needs in this respect in both the host and origin countries - providing a service at "both ends of the corridor" - the industry is also in danger of losing site of its commitment to social responsibility and the financial integration of migrants. At the heart of the argument for financial stability and financial integration is the proposition that there is a lack of communication among stakeholders, namely academic and financial institutions, governments, Diaspora associations and other decision makers. As an insider, the author is well placed to probe further into the minds of the "elite"; the decision makers within banks, Diaspora associations and government, employing qualitative research to reveal the extent to which the landscape of the migrant business segment has changed (i.e. requiring a more sophisticated product that meets the needs of migrants throughout their entire life-cycle) and highlighting that the necessary adjustments to the migrant business plan and business model have been ignored because of poor communication and a lack of understanding of the current global circumstances concerning the remittances of migrants. As the thesis points out, despite considerable evidence that migrants and their associated monetary flows is a central and enduring feature of globalization resilient to financial crisis, remarkably, scant attention is paid to it in the academic literature. The thesis addresses this "gap" by employing exploratory research in order to design an innovative business model and business plan for the migrant market, the benefits of which will be realised globally among migrants, the financial industry and, ultimately, in the development of a sustainable world economy.
Supervisor: Not available Sponsor: Not available
Qualification Name: Thesis (D.B.A.) Qualification Level: Doctoral
EThOS ID:  DOI: Not available