Tokyo, 23 May 2018: UAE Exchange, a leading global money transfer, foreign exchange and payment solutions brand, announced that it has rebranded its operations in Japan as "Unimoni". Short for "Universal Money", Unimoni will continue to drive the agenda of providing a broader spectrum of innovative financial services across geographies, currencies and channels, enabling customers to achieve their financial ambitions.
Japan becomes the first country in the UAE Exchange global network to rebrand its operations as Unimoni.
Speaking about the plans for Japan, Ken Sakane, Country Head, Unimoni Japan, said, "This is truly an exciting time for the business in the high-potential Japanese market. Our local operations are still young in Japan and we have significant growth plans in place drawing on the country’s resilient economy and increasing number of expatriates. With the launch of Unimoni in Japan, we take the next step in reaffirming our commitment to our well-wishers and customers in Japan to deliver the seamless movement of money in a timely and cost-efficient manner."
Japan has witnessed a considerable surge in the number of migrants in the last decade. According to the Bilateral Remittance Matrix by KNOMAD, the remittance outflow from Japan to the rest of the world amounted to nearly USD 9 Billion for 2017. Unimoni (formerly known as UAE Exchange) started its Japan operations in 2014, providing convenient money transfer solutions to its customers in Japan. It soon became one of the preferred remittance service providers for expats from the Philippines, India and other South Asian countries.
"We have built a strong affinity with the expatriate communities in the country, particularly from the Philippines and India, who account for nearly 90% of our current customer base. With the rollout of the new brand, we aim to cater to a larger audience with a range of new services, including online money transfer and foreign exchange services, which are in the pipeline. We are also looking at increasing our brick-and-mortar presence in the country, added Ken.
In April 2018, noted UAE-based businessman and philanthropist, Dr. Bavaguthu Raghuram Shetty launched "Finablr", a holding company which, subject to regulatory approvals, will bring together his global portfolio of category-leading financial services brands including UAE Exchange, Travelex and Xpress Money under one umbrella. Concurrently, Finablr announced the intent to rebrand the non-UAE operations of UAE Exchange as "Unimoni".