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Social Media and Remittances
Michael Kent, CEO - Azimo
November 7th, 2013
Azimo is the Re-Imagination of Cross
Border Consumer Payments
Then

Expensive, Slow, Inconvenient
and High Exception,

Now

Low Cost, Fast, Easy,
and Efficient
Automated low costs, fast, convenient and secure
transfers, any-time, any-device to 190+ countries
Top Corridors

SWIFT

Cardless
ATM
“There’s going to be an opportunity over the next five
years or so to pick any industry and rethink it in a
social way… we think that every industry is going to
be fundamentally re-thought and designed around
people.”

Mark Zuckerberg – October 2010
UK Money Transfer Customer Survey – Jan 2012
2,000 respondents
• 43% have internet enabled Smart Phone
• 67% have Facebook account
• 59% would try an internet / mobile service
There are 1.1bn+ Facebook users with huge
populations in both send and receive countries

Send
1
6
9
10
11
13
15
17
19
20

Country
United States
United Kingdom
France
Germany
Italy
Canada
Spain
Japan
Malaysia
Taiwan

FB Users
Millions
166
33
26
25
23
18
18
17
14
13

Receive
% Pop
FB Users
53%
52%
39%
31%
38%
53%
37%
14%
47%
57%

3
4
5
7
8
12
14
16
18

Country
Brazil
Indonesia
Mexico
Turkey
Philippines
Argentina
Thailand
Colombia
Bangladesh

FB Users
Millions
63
59
51
38
32
30
20
18
17

% Pop
FB Users
5%
30%
21%
33%
40%
29%
48%
26%
38%
World Map of Social Networks – 06/13
Social Networks Adoption Lifecycle
Q-Zone
Facebook 1.1bn
users March13
33%
sign up with Social
Marketing

New
Channel

Broadcast

Social
Media
Engage

Social
Proof

Beneficiary

KYC
Social for Marketing but there is much more

• Great targeting
• Use existing customer info
• Conversion and ROI
remains shakey
Social for KYC and Compliance
Velocity

Examples

Blacklist / PEPs/ Sanctions
Blacklist / PEPs/ Sanctions
Device ID

Social Profile

YES MAYBE NO
Social as a Inbound Communication Channel –
embedded Apps and customer support

Where is my money??
Social for Beneficiary Engagement and Exception
Reduction

11%
Agent inputs
details from
Sender

2%

dsdsdsd

Beneficiary
inputs payout
details
Social for Broadcast
Social to provide Proof and Reassurance

High Trust and Advocacy
Social Amplification of
Word-of-Mouth
• Amplify traditional
communication
• Service
• Value
• Speed
• Customer get customer
Engage with Social, Retain with Love
Acquire and Engage

Retain

>$300
(LTV)

(CAC / CPA)

<$35
IMTC Miami Conference - Social Media and Remittances - Michael Kent

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IMTC Miami Conference - Social Media and Remittances - Michael Kent

  • 1. Social Media and Remittances Michael Kent, CEO - Azimo November 7th, 2013
  • 2. Azimo is the Re-Imagination of Cross Border Consumer Payments Then Expensive, Slow, Inconvenient and High Exception, Now Low Cost, Fast, Easy, and Efficient
  • 3. Automated low costs, fast, convenient and secure transfers, any-time, any-device to 190+ countries Top Corridors SWIFT Cardless ATM
  • 4. “There’s going to be an opportunity over the next five years or so to pick any industry and rethink it in a social way… we think that every industry is going to be fundamentally re-thought and designed around people.” Mark Zuckerberg – October 2010
  • 5. UK Money Transfer Customer Survey – Jan 2012 2,000 respondents • 43% have internet enabled Smart Phone • 67% have Facebook account • 59% would try an internet / mobile service
  • 6. There are 1.1bn+ Facebook users with huge populations in both send and receive countries Send 1 6 9 10 11 13 15 17 19 20 Country United States United Kingdom France Germany Italy Canada Spain Japan Malaysia Taiwan FB Users Millions 166 33 26 25 23 18 18 17 14 13 Receive % Pop FB Users 53% 52% 39% 31% 38% 53% 37% 14% 47% 57% 3 4 5 7 8 12 14 16 18 Country Brazil Indonesia Mexico Turkey Philippines Argentina Thailand Colombia Bangladesh FB Users Millions 63 59 51 38 32 30 20 18 17 % Pop FB Users 5% 30% 21% 33% 40% 29% 48% 26% 38%
  • 7. World Map of Social Networks – 06/13
  • 8. Social Networks Adoption Lifecycle Q-Zone Facebook 1.1bn users March13
  • 11. Social for Marketing but there is much more • Great targeting • Use existing customer info • Conversion and ROI remains shakey
  • 12. Social for KYC and Compliance Velocity Examples Blacklist / PEPs/ Sanctions Blacklist / PEPs/ Sanctions Device ID Social Profile YES MAYBE NO
  • 13.
  • 14.
  • 15.
  • 16. Social as a Inbound Communication Channel – embedded Apps and customer support Where is my money??
  • 17. Social for Beneficiary Engagement and Exception Reduction 11% Agent inputs details from Sender 2% dsdsdsd Beneficiary inputs payout details
  • 19. Social to provide Proof and Reassurance High Trust and Advocacy
  • 20. Social Amplification of Word-of-Mouth • Amplify traditional communication • Service • Value • Speed • Customer get customer
  • 21.
  • 22. Engage with Social, Retain with Love Acquire and Engage Retain >$300 (LTV) (CAC / CPA) <$35