Asia's Developing Future

Fintech or, more fully, financial technology, is the buzz word in the startup world. But while the winners in this revolution are entrepreneurs and investors, there are clear benefits for the developing world. According to a new book from the Asian Development Bank Institute, Labor Migration in Asia: Increasing the Development Impact of Migration through Finance and Technology, lowering the cost of remittances for Asian workers employed in other parts of the world will improve the overall socioeconomic outcomes of their countries of origin. The research on the benefits of remittances is clear. The United Nations Conference on Trade and Development says a 10% rise in remittances—that is, money sent home to the region by its expatriate workers—could lead to a 3.5% fall in the number of people living in poverty. Read the transcript https://bit.ly/2JJJ0wZ Read the report https://www.adb.org/publications/labor-migration-asia About the event organizers and report editors Aladdin Rillo was with ADBI at the