iRemit makes a new presence in Italy

iRemit Inc., the country largest non-bank Filipino-owned remittance firm, has opened its second branch in Milan, Italy. The company's first branch in Italy was opened in Rome in April this year. "The steady deployment and demand for our Filipino workers are the primary driving forces of the company," said iRemit chairman and CEO Bansan Choa in a statement released to media Thursday. "As more and more Filipinos go to other countries to earn a living and provide better lives for their families back home, we will be there to provide them better assistance and ensure that the fruits of their hard-earned labor will be easily accessed by their beneficiaries here," he added. According to the Department of Foreign Affairs (DFA), Milan-based Filipinos comprise about 32 percent of Filipinos in Italy. The estimated number of overseas Filipino workers (OFWs) in Milan reached 34,000, with most of them working as nurses and staff in factories. Filipino migrants based in Rome account for 25 percent of Filipinos in Italy, DFA records showed. "In line with our vision to be the ultimate remittance service provider of choice, we are constantly pushing to establish our presence in areas where most of our fellow Filipinos reside, whether temporarily or permanently," said iRemit president and COO Harris Jacildo in a statement. "The challenges that beset the company should be seen as opportunities for us to look into other venues where we could serve more markets. And, we will continue to tap in markets where we previously had no visibility," he added. iRemit's presence in Milan will also cater to Chinese remittance service in collaboration with Bank of China. This move, iRemit said, will bolster the expansion of its remittance service portfolio, extending its market reach to Chinese nationals. —JE/OMG, GMANews.TV