Plans for creating a global database of the entire payments industry were announced at the 3rd GCMT conference

Plans for creating a global database of the entire payments industry were announced at the 3rd Global Consumer Money Transfer Conference on 30th October at the Dorchester Hotel, Park Lane, London.

Capgemini, the international consulting company and investment bank Goldman Sachs, New York will together assemble the research data to be published by IAMTN.

C.B Net a leading reference data provider in the banking sector will be a major contributor.

The announcement was made by IAMTN, CEO Lady Olga Maitland:"Until now there does not exist a global database detailing all the participants in the payments sector. Lists do exist in certain areas, in certain countries, but they are not comprehensive.

"There has been a real demand to create a complete and reliable data base detailing who does, what and where. We have no knowing at present where all the players are; there are no lists, no contact details, and no description of services. We will cover all sectors of the payments industry from money service businesses, banks with money transmission services, new technology companies especially in the mobile phone sector; pre-payment cards and so on.

"This information is invaluable in a rapidly expanding sector where the volume of recorded remittance cross border payments are estimated reach $500b in 2010, according to Robert Metzger, Vice President of William Blair & Co. The vibrance of this sector which is growing at anything up to 20% a year in some regions means that there is a thirst for new alliances and partnerships. The data base will go a long way to identifying the appropriate companies.

"In addition the consumer has a right to know about the choices they can make; he will be able to compare prices and services as well as have access to all the contact data.

"We decided at IAMTN to address this huge gap. Elizabeth Grausam, Vice President Investment Research Analyst Payments at Goldman Sachs in New York has offered the services of their research department to work with Nick Ford, Head of Payments, Capgemini UK and his researchers to pull together a meaningful data base. IAMTN Board Member Leon Isaacs, ceo Emerging Markets Association will assist in co-ordinating other contributors such as C.B. Net, lead by managing director Ian Dunning. They are a leading reference data provider of the banking sector.

"The initial research plus a regional analysts report will be on India, together with Russia, the CIS, and Eastern Europe. The first reports and data should be available well before the New Year."