To offer remittance services to Filipinos and Chinese in Canada.
I-REMIT, INCORPORATED (I-Remit), the largest non-bank Filipino-owned remittance company, announces the opening of its newest branch in West Edmonton Mall (WEM), Edmonton, Alberta, Canada, the largest shopping mall in North America and the fifth largest in the world. This is I-Remit`s fifth location in that country. “We are excited about the opportunity to expand our Edmonton presence specifically to meet the growing needs of Filipinos and Chinese in this community,” said Harris Jacildo, president and COO.
The WEM branch is situated in Chinatown Hall, where you can find business establishments catering to the Asian population, headlined by T & T Supermarket. “This move will make us more available to both Filipinos and Chinese customers all across Edmonton. This broadened reach should create far more synergy between our major core remittance services and our Chinese remittance business,” added Jacildo.
REMITTANCE OPTION TO THE CHINESE MARKET
The Chinese remittance business of the company was established with a special agreement with the Bank of China Limited (BOC), one of China’s four state-owned commercial banks that provides a comprehensive range of high-quality financial services, and has expanded with branches on every major continent outside of mainland China. The remittance agreement between the two financial institutions will benefit thousands of Chinese customers who wish to send remittances for their families in China. I-Remit offers same day processing of remittance which beneficiaries in China can withdraw from any of the Bank of China’s over 12,000 domestic branches.
With I-Remit’s continuing expansion across the globe, Jacildo stressed the importance of enhancing not only the products being offered but the customer service as well. “I-Remit is an emerging global brand operating in different continents, therefore, we should promote the Filipino hospitality not only to our countrymen but to other nationalities. We are very proud to extend that Filipino service. In our manpower strategies in all our branches, we made sure that all our frontliners including branch managers are all Filipinos so we can offer the famous Filipino brand of customer service. We believe that customer service is now the new marketing.” He added, however, that exceptions are made for the marketing officers processing Chinese remittances. “Excellent communications to our specific target market is essential.”
FILIPINOS IN CANADA
Filipinos in Canada are now the third-largest Asian-Canadian group after the Indian and Chinese communities. The Filipino community in Canada was quite small until the late 20th century, but there are currently about 435,795 living across country – officially listed in 2006 Census. Between 2001 and 2006, the Filipino community in Canada grew from 308,000 to 436,000 and is larger today with new arrivals since.
They have high levels of education. Among Canada`s Non-European-Origin (N-E-O) groups, Filipinos rank second in terms of the proportion of the population having earned a bachelor’s degree. Approximately 31% of Filipinos have a bachelor’s degree or higher compared to only 14% of the European-origin (E-O) population and 24% of the overall N-E-O population. The fields of study most popular among Filipinos are commerce, management and business administration (27%), health professions, sciences and technologies (22%), engineering and applied sciences technologies and trades (13%) and engineering and applied sciences (10%). These four fields made up almost three quarters of Filipinos who went beyond secondary school education to achieve a degree, certificate or diploma.
According to Jacildo, I-Remit’s expansion program is now the center of the company’s activities aside from developing new services for different market. At present, I-Remit is preparing for the opening of its branch in Italy.