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b'Fintech or, more fully, financial technology, is the buzz word in the startup world. But while the winners in this revolution are entrepreneurs and investors, there are clear benefits for the developing world.\\n\\nAccording to a new book from the Asian Development Bank Institute, Labor Migration in Asia: Increasing the Development Impact of Migration through Finance and Technology, lowering the cost of remittances for Asian workers employed in other parts of the world will improve the overall socioeconomic outcomes of their countries of origin. \\n\\nThe research on the benefits of remittances is clear. \\n\\nThe United Nations Conference on Trade and Development says a 10% rise in remittances\\u2014that is, money sent home to the region by its expatriate workers\\u2014could lead to a 3.5% fall in the number of people living in poverty. \\n\\nRead the transcript\\nhttps://bit.ly/2JJJ0wZ\\n\\nRead the report\\nhttps://www.adb.org/publications/labor-migration-asia\\n\\nAbout the event organizers and report editors\\nAladdin Rillo was with ADBI at the time of the event and organized the event. He worked with Jean-Christophe Dumont and Jonathan Chaloff, from the Organisation for Economic Co-operation and Development, and Nilim Baruah, from the International Labour Organization.\\n\\nKnow more about ADBI\\u2019s work on labor\\nhttps://bit.ly/2LYGzF5\\nhttps://bit.ly/2LYGKQL'