As inflation and global food insecurity place financial pressure on many countries around the world, remittance inflows to emerging markets are expected to continue to provide crucial support in 2022. While approximately 97% of global remittance inflows are paid in cash and transmitted via traditional brick-and-mortar banks and financial institutions, there has been a noticeable increase in fund transfers using alternative methods. Also in Africa, in October 2021 Western Union – an established global remittance company – announced that clients of KCB Bank Kenya, Diamond Trust Bank and the Kenya Post Office Savings Bank would be able to send and receive money via their mobile banking apps.