WorldRemit, a UK-based online money transfer service, has selected Australia as its base in Asia-Pacific to accelerate its growth in the region.
The company has also appointed Michael Liu as regional director for Asia-Pacific.
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Liu will be responsible for business development, building relationships with banks, telcos and other partners, and driving customer growth.
He has over two decades of experience in the financial services industry. Most recently, he served as an executive director at UBS Investment Bank.
WorldRemit said that its users in Australia currently send around 80,000 transfers a month, which represents year-on-year growth of approximately 100%, making firm’s second biggest market after the UK.
WorldRemit CEO and founder Ismail Ahmed said: "Migrants in Australia already send tens of thousands of transfers to places like Ghana, Zimbabwe, India, the Philippines and the Pacific Islands. We see tremendous growth opportunities in sender countries such as Australia, New Zealand and Japan as well as key receiver countries across Asia-Pacific region."
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By GlobalDataCommenting on the appointment, Ahmed added: "Michael Liu’s deep knowledge of and connections with the financial sector will be invaluable as we cement our position as the leading digital money transfer service worldwide."
