Meeting remittance senders where they are

For guest workers in countries around the world, international remittances are more than economic transactions – they are potential lifelines. These flows can help sustain families, stabilize communities, and provide critical support in moments of need. 

Recent global data underscores the scale of this movement. According to the World Bank, remittances to low- and middle-income countries (LMICs) reached $656 billion in 2023. In fact, remittance flows surpassed both foreign direct investing and official development assistance in LMICs. Remittances were expected to reach $690 billion by the end of 2025. 

The vast majority of remittance senders are migrant workers living and working outside their home countries. In addition to the challenges they encounter being away from their families or working potentially insecure jobs, they often face steep linguistic, cultural and technological barriers that can heighten their financial vulnerability and the risks they face. 

According to Chubb’s 2025 report on the state of global remittances, social vulnerability compounds economic challenges. For example, only 31% of foreign and gig workers in the Asia-Pacific region are fluent in the primary language of their residence country, limiting their ability to easily access insurance coverage. Only 22% of the workers in this region reported having income protection insurance.

Targeted, culturally resonant outreach from banks and digital payment platforms can help close these gaps, better protect senders from risk, and build durable customer trust in the process.

The top remittance-receiving LMICs span every major region of the world:

• India – $129 billion
• Mexico – $68 billion
• China – $48 billion
• The Philippines – $40 billion
• Pakistan – $33 billion

This reflects the global scale of labor migration and the broad range of countries from which workers send funds abroad. The International Labor Organization Global Estimates on Migrant Workers report says there were approximately 167.7 million international migrant workers in the global workforce in 2022, constituting nearly 5% of workers worldwide. 

But migrant workers also experience a panoply of heightened risks. They’re often concentrated in employment sectors characterized by lower wages and higher income volatility, including agriculture, construction, food services, and cleaning and maintenance. These employment patterns can increase financial pressures and reduce resilience to economic shocks. 

In many host countries, migrant workers also face practical barriers that affect their ability to access essential services. Limited familiarity with local systems, gaps in documentation and language constraints can make it more difficult to secure housing, obtain healthcare, access public support programs, or identify and avoid fraud and cyber scams.

And despite their central role in the remittance ecosystem, migrant workers are also less likely to participate fully in formal financial systems. In many markets, they are less likely than native-born residents to use regulated financial tools or to be aware of available digital financial services. These gaps can increase reliance on higher-cost or informal channels.

Data collected for Chubb’s report on global remittances highlights these challenges:

•  24% of surveyed remittance senders reported difficulties related to navigating daily life in their host country
•  23% cited differences in norms or expectations as an ongoing challenge
• Among recipients in certain markets, the issue is even more pronounced – for example, 53% of surveyed Mexican recipients reported high fees as a major remittance concern

Collectively, these factors increase the concentration of economic, operational, and technology-related risks associated with cross-border money transfers, affecting both remittance senders and the institutions that serve them.

Banks and digital payment platforms are uniquely positioned to reduce the prevalence of these gaps. Outreach done well can equip remitters with the tools to protect themselves from risk, adopt safer digital behaviors, and make informed financial choices.

1. Digital literacy, cyber-safety, and scam awareness: Targeted digital-literacy campaigns can significantly reduce scam susceptibility by enhancing workers’ access to information and facilitating social interactions. And multilingual, culturally tailored cyber-safety messaging can help increase fraud reporting.
   Chubb data reinforces this need: nearly 33% of survey respondents who said they have experienced problems sending money reported high fees, delays, or fraud-related issues.
2. Personal-finance and money-management support: The World Bank’s Financial Capability Surveys (2024) show that migrants exposed to localized educational content save more money and have better credit scores, because they’re better equipped to navigate the financial systems of their host countries. 
3. Embedded insurance offerings: Offering personal accident, income protection, or cyber insurance in places or on platforms where remitters already send money can substantially improve adoption. Consumers generally are much more likely to purchase insurance when it is offered at the point of transaction, especially those in Gen Z. 
4. Culturally attuned design and communication: The Chubb remittance report emphasizes that linguistic and cultural barriers can inhibit remittance senders’ trust in institutions, and highlights the importance of outreach that resonates with these workers personally and culturally.

Indeed, native-language customer support has been shown to improve both uptake and dispute resolution. Trust grows significantly when migrants interact with staff who speak their language or share cultural reference points. Indeed, culturally familiar imagery can increase message comprehension.

The most effective outreach strategies are likely to include:

• Native-language marketing and service channels to break communication barriers and improve trust
• Culturally resonant visuals and design to help users feel recognized rather than peripheral
• Flexible insurance options at multiple price points to meet the needs of low-wage gig-economy workers
• Transparent communication around costs, data usage, and dispute-resolution processes
• Empathetic, responsive customer service