Last week (Mar 13), I spent an afternoon inside a migrant worker dormitory in Singapore.
There were no presentations and no product demos. Just a group of workers sitting together in a common room.
I was there to understand something simple: how they actually send money home.
For many people working in financial services, remittances are discussed in terms of technology, transaction speeds and digital adoption.
But sitting in that room, it became clear very quickly that the real story is about something else.
It is about trust.
Why We Were There
The visit was not happening in isolation.
Earlier this year, EFGH partnered with TS Group, one of Singapore’s operators of large-scale foreign worker accommodation, to deploy a digital wallet and remittance platform across its dormitory network, which houses more than 50,000 residents.
The platform will support everyday financial services such as domestic transfers and cross-border remittances to countries including Bangladesh, India, China, the Philippines and Indonesia.
Before building anything, we wanted to understand how workers already manage their money today.
That meant leaving the office and spending time where these decisions are made: inside the dormitories themselves.
Trust Before Apps
What we discovered was both practical and revealing.
Most of the workers I spoke with do not use mobile remittance apps. Not because they cannot, but because they already rely on systems they trust.
For many Indian workers, the routine is familiar.
Each month they send about S$750 home through trusted community networks, often introduced through relatives or people from the same village long before they arrive in Singapore.
The attraction is straightforward: trusted relationships and exchange rates that can sometimes be more favourable than formal channels.
Bangladeshi workers tend to follow a different route.
Many walk to licensed remittance counters located near their dormitories, sending around S$550 each month.
Funds usually reach bank accounts within one to two working days. Their families also receive an additional 2.5 per cent incentive from the Bangladeshi government when the money arrives through formal banking channels.
Technology is available.
But for many workers, trust still matters more.
What Matters Most
Across both groups, three priorities surfaced clearly.
Exchange rates
Even small differences matter when the money supports an entire household.
Speed
Workers value quick transfers, particularly when money is needed urgently back home.
Security
Above all, they want certainty that their money will reach their families safely.
What stood out most was how stable these habits are. Many workers stick with the same remittance method for years because it was recommended by someone they trust.
Once that trust exists, convenience alone rarely persuades someone to switch.
Designing for Real Life
For our team, the purpose of the session was not to validate a product idea. It was to understand behaviour.
These insights will shape how we approach product design, messaging and community outreach as the platform is developed and tested within TS Group’s residential ecosystem.
At EFGH, we believe financial infrastructure should be designed with real users in mind. Too often, products are built around technology rather than the habits and relationships that shape everyday financial decisions.
In tightly connected worker communities, trust travels through people, not platforms.
A recommendation from a dorm mate or someone from the same village often carries more weight than any marketing campaign.
A Lesson Worth Remembering
By the end of the session, the conversation had shifted away from remittance technology entirely.
Instead, the workers spoke about families, responsibilities and the routines they rely on to support people back home.
It was a useful reminder.
Financial services are not just about transactions. They are about the confidence people place in the systems that move their money.
Technology matters.
But trust travels faster.
And sometimes the best place to start building financial infrastructure is not in a boardroom or a product lab.
It is in a dormitory common room, listening.
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