Despite a global decline in remittance volume, some bankers in the field are hoping for more competition — from their own kind.

"It's a key opportunity for the industry that some banks have not realized," Daniel Ayala, the senior vice president for global remittance services at Wells Fargo & Co., said in an interview last week. "The more banks that participate in the space, the more a consumer is going to think about going to a bank, not a remittance company," to send money.

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