KINGSTON, Jamaica – In a major bid to widen its appeal and position its services, as the company responds to the growing worldwide demand for remittance services, JN Money Services Limited (JNMS), owners of the distinct JN Money Transfer remittance brand, is repositioning its operations as a global money transfer provider.
During the peak of the recent Holiday Season, the company launched the “It’s a Love Thing” campaign, to strengthen brand awareness beyond Caribbean markets in the Diaspora, to reach other migrant communities in Europe and North America. And, the response has bolstered the JNMS’ global resolve.
Leesa Kow, General Manager of JNMS, said remittances are an important source of foreign exchange earnings for many countries worldwide, particularly less developed countries (LCDs) with total inflows of more than US$300 billion annually. And, she maintains that there are many more opportunities for Jamaica in this expanding market.
Leesa Kow, General Manager, JN Money Services Limited
The new brand campaign follows closely behind the recent major expansion of JNMS globally and emphasizes the global focus of the company. In 2011, JN Money Transfer expanded its services in major international cities and provinces including New York, London and Ontario; as well as Caribbean territories, such as the Bahamas and the Cayman Islands.
“These new locations have strengthened our network to more than 250 branches and Agents throughout the Americas, the United Kingdom and Africa,” Ms. Kow affirmed.
“While we maintain our uniqueness as a Jamaican company which provides services to Jamaican and Caribbean Diaspora communities, our growing presence in the international market gives us the opportunity to establish a company, which is fully-owned by Jamaicans, but truly global and competitive,” she added.
Ms. Kow noted that although fiscal difficulties in the global economy have resulted in challenges for many countries, remittances to LCDs continue to grow. And, remittances to the developing countries are expected to grow at lower, but more sustainable rates of seven to eight percent from 2011 to 2013, according to a World Bank paper, which noted that inflows are projected to reach US$375 billion by 2012 and US$404 billion by 2013.
“Remittances have proven to be an even more important source of income for recipient countries over the past four years of global economic turmoil, particularly countries in Africa, Asia and Latin America and the Caribbean,” Ms. Kow pointed out.
“There are tremendous opportunities for us as a company, and for Jamaica, to enter into new markets and provide a unique alternate channel for remitting and receiving funds from developed countries,” she underscored emphasising the strength of the ‘Jamaica brand.’
Miss Kow explained that the concept of the new “It’s a Love Thing” brand campaign positions the company to take advantage of these opportunities. Centering on the theme of “love”, a major element of the brand which was first established in its 2007 “I Love Jamaica” campaign, the new brand campaign highlights reasons users love JN Money Transfer in overseas markets, despite the economic climate.
“There are specific benefits that can be derived from using the JN Money Transfer brand, which can be accessed in the UK, the United States of America, Canada, Ghana and various countries across the Caribbean.” Miss Kow said, “and our new campaign zeroes in on these differentiating advantages that allow us to provide competitive services in the global sphere.”
She noted that the campaign also comes at a time when there will be tremendous focus on brand Jamaica in the world arena.
“We will celebrate 50 years as an independent, democratic country in 2012; and also celebrate with our athletes during the Games of the XXX Olympiad in London 2012. These are important events that will create numerous opportunities for us to build interest in our brands and services. This opportunity gives us the option to penetrate new markets that can grow our business, as well as the national economy,” Ms. Kow affirmed.
