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TheStreet Open House

CONTACT And BANORTE To Sponsor Largest Money Transfer Conference On The West Coast

MIAMI, March 15, 2013 /PRNewswire/ -- IMTC will host its third edition of its International Money Transfer Conference and Trade Fair in the West Coast. IMTC brings together experts and company representatives of the Money Transfer Industry to discuss the trends and issues that the industry faces. Additionally, the conference provides major networking and business opportunities with other MT institutions. Today, IMTC is thrilled to announce that CONTACT and BANORTE will be the two major sponsors for this conference.

(Photo: http://photos.prnewswire.com/prnh/20130307/NY72900-INFO )

CONTACT was started by Russlavbank in 1999 in Russia to serve the vast number of migrants in the Federation coming from the CIS countries and the millions of Russians that have migrated elsewhere, with 3.5 million residing in the US alone. CONTACT now serves more than 110 countries and has over 250,000 locations in their network.

BANORTE is the largest Mexican-owned bank and the third largest bank in Mexico. Founded in 1899 in Monterrey, the bank has grown steadily. In 2007 it announced the purchase of UNITELLER, a US money transfer company, solidifying its commitment to serve Mexicans inside and outside of the country. Today, it is one of the leaders in remittance payments in Mexico.

Hugo Cuevas-Mohr , Director at IMTC said: "IMTC is proud to have CONTACT and BANORTE as partners in both IMTC West in April and IMTC Miami in November. It is an honor for us to congregate the industry to network, partner, share knowledge and experience and discuss the trends and the new technologies that are changing the industry today."

The volume of remittances from the US to Russia is around 180 million per year and around 100 million in the opposite direction, increasing every year. US remittances to Mexico have stabilized after a descent that started in 2007, which was the largest year on record with a total of US $26,076 million.

Three pre-conference seminars will be held at IMTC West; 1) "MT Compliance for MSBs & Financial Institutions", 2) "US Payment Systems" and 3) "Digital Marketing Seminar."

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