This will be a major focus at the 3rd Global Consumer Money Transfer Conference which will take place at the Dorchester Hotel, Park Lane, London on 29th and 30th October.

Says the CEO of the International Association of Money Transfer Networks, Lady Olga Maitland," New players are emerging rapidly into all aspects of the payments sector. They are making a powerful impact and are already positioning themselves strongly. The monopoly that some of the leading names today have had will change. Long-term strategic positioning is essential if banks, money service businesses and other financial institutions are to maintain profitability for their payments businesses.

"In the conference we will hear how the payments sector can learn from the strategies and approaches taken by the new entrants. In particular they will learn how they should be watching how they use technology to achieve transparent, consistent and rapid payments across borders. It is this technology, as opposed to the regulations, that will set the pace of change.

"Major companies such as Capgemini, HSBC, Western Union, Ria Financial Services and Unistream among other leading names will be discussing how to adapt to the future."