Hey guys, good morning. This diagram is a great one. just a suggestion. it might be useful to swap bank for "remittance agent" at either end. That reflects quite a bit of the reality today in remittances as you know. cheers.
https://www.stellar.org/wp-content/uploads/2016/08/Sending-Payment-Flow-Detailed.jpg
remittance
also there can be multiple scenarios. bank to bank, agent to bank, agent to agent(what we call as cash pickup). i will skip the term wallet because it is misleading-you do need to go to the merchant to do a pick up usually. wallets are best suited to store the value and then cash out by transferrring to bank account.