Wildcard: The Business of Remittances with Moneygram CEO Alex Holmes
Industry Focus
The Motley Fool
4.6 • 854 Ratings
🗓️ 27 October 2021
⏱️ 37 minutes
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Summary
Moneygram CEO Alex Holmes joins Industry Focus Host Nick Sciple and Motley Fool Contributor Luis Sanchez to take a look at the international remittance market (AKA sending money across borders), how cryptocurrency is playing a role in the market, and more!
Stocks Mentioned: MGI
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Transcript
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| 0:00.0 | Welcome to Industry Focus. The Podcast that dives into a different sector of the stock market each day. |
| 0:11.0 | I'm your host Emily Flippin. I'm Jason Moser. I'm Nick Seyple. I'm Dylan Lewis. And today |
| 0:16.0 | we're talking financials. Today we're talking consumer goods. Wild Card Wednesday. |
| 0:20.4 | And we're talking energy. And today we're talking tech. Let's dive in. |
| 0:25.0 | Welcome in everybody. I'm Nick Saipold. Joining me is Motley Fool contributor |
| 0:30.2 | Louise Sanchez. Our guest today is Alex Holmes, chairman and CEO of Moneygram, |
| 0:34.3 | a leading provider of cross-border payments and money transfers with operations in |
| 0:38.4 | more than 200 countries worldwide. Alex, thanks for joining us today. |
| 0:41.2 | Yeah, absolutely. Thanks for having me guys, appreciate it. |
| 0:44.4 | Great to have you here with us. So I kind of gave a snippet intro on what your company does, but for somebody who hasn't |
| 0:50.6 | heard of MoneyGram, can you maybe give the high level overview of what your company does and the |
| 0:54.9 | customers that you serve? Yeah, it's a great question and you did a really nice job with the |
| 0:59.7 | intro, but fill in the blanks a little bit. So MoneyGram is known globally for its ability to send and receive money real-time cross-border for basically anyone who needs that type of service effectively. |
| 1:15.7 | There is about $700 billion plus and growing every year of money going basically from point A to point B from country to country. |
| 1:25.6 | Our primary constituent has always been first and second generation migrant consumers that you know those individuals who've you |
| 1:35.2 | know left one home to to migrate to another and effectively earn a better living save |
| 1:40.1 | money send home and support their family and their loved ones over the past save money |
| 1:44.2 | home and support their family and their loved ones. |
| 1:44.1 | Over the past decade, this industry and Money Graham in particular |
| 1:49.0 | has gone through quite a large transformation. |
| 1:51.5 | And I would say that, you know, largely speaking, the business started. large As digital has evolved as consumer needs have changed and obviously as the |
| 2:05.7 | coronavirus pandemic has you know really kicked in in the past 18 months |
... |
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