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Remitly Releases Second Annual Global Impact Report

Remitly Releases Second Annual Global Impact Report

Remitly is proud to announce the launch of our second annual Global Impact Report, highlighting the progress we made in 2023 toward our global impact vision to transform lives across borders by creating financial inclusion and strengthening community resilience.

  • June 18, 2024
  • 5 minute read
Community and Social Impact

Last updated on July 11th, 2024 at 08:37 am

Remitly is proud to announce the launch of our second annual Global Impact Report, highlighting the progress we made in 2023 toward our global impact vision to transform lives across borders by creating financial inclusion and strengthening community resilience. 

This vision reflects the positive impact that our products can have on the customers and communities we serve, as well as our responsibility to protect people, our operations, and the planet for the long term. To achieve this, our ethos is to do good with what we’re good at—tackling the challenges we are uniquely positioned to solve through our products, business practices, and in partnerships with our people and global communities.

A few highlights across each of our impact priorities:

  1. Financial Inclusion and Innovation
    In 2023, Remitly connected communities across borders by facilitating nearly $40 billion in transactions, at costs that are rapidly approaching— and in many cases achieving—the UN’s Sustainable Development Goal of 3%. Additionally, we are proud to offer our services in 17 languages, connecting customers to over 4.2 billion bank accounts, over 1.2 billion mobile wallets, and approximately 460,000 cash pick-up options worldwide.
  2. Secure and Ethical Transactions
    We’re committed to building trusted financial products that protect our customers and deliver secure and ethical transactions. In Q4 2023, over 95% of transactions on our platform required no customer support, and our total transaction losses (including fraud, chargebacks, and other disbursement losses) represented just 0.10% of our total 2023 send volume and just 0.15% in the previous year.
  3. Customer-centric, Inclusive, and Diverse Global Culture
    At Remitly, our global teams are united by a shared commitment to serving our customers. We believe that building a diverse and inclusive culture enables us to better understand and meet the needs of our customers around the world. In 2023, Remitly’s 12 global affinity groups promoted continuous education on DEI topics, resulting in 81% of Remitly employees feeling a sense of belonging. We also continued to invest in the Remitly Scholars program, which enables Remitly employees to fund scholarships for students at two major universities in the Philippines. Since launching the program in 2015, we have provided scholarships amounting to more than $800,000 in total financial support.
  4. Protect People, Our Operations, and the Planet
    We are dedicated to protecting people, our operations, and the planet, and recognize that climate-related risks are increasing for the customers and communities we serve. In 2023, we supported people in climate-vulnerable areas by expanding the accessibility of funds and responding to natural disasters in five countries, providing over $50,000 in fee-free transfers or discounts.
  5. Extending our Global Impact with Philanthropy
    In 2023, we donated a combined $600,000 through Remitly and employee giving, Remitly fee-free transfers and discounts, and grants made through Remitly Foundation. Our giving was primarily focused on two key impact areas: advancing financial inclusion, and increasing community resilience for refugees, immigrants, and their families around the world. Remitly employees also volunteered over 1,100 hours in support of over 250 nonprofits that champion local and global causes they are passionate about.

As you read this report, we hope you will be inspired by what we’ve been able to accomplish together, and that you’ll join us in our work to transform lives across borders with trusted financial services.

To read the full Global Impact Report and learn more about our progress and future initiatives, visit Remitly.com.

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Last updated on July 11th, 2024 at 08:37 am

Remitly is proud to announce the launch of our second annual Global Impact Report, highlighting the progress we made in 2023 toward our global impact vision to transform lives across borders by creating financial inclusion and strengthening community resilience. 

This vision reflects the positive impact that our products can have on the customers and communities we serve, as well as our responsibility to protect people, our operations, and the planet for the long term. To achieve this, our ethos is to do good with what we’re good at—tackling the challenges we are uniquely positioned to solve through our products, business practices, and in partnerships with our people and global communities.

A few highlights across each of our impact priorities:

  1. Financial Inclusion and Innovation
    In 2023, Remitly connected communities across borders by facilitating nearly $40 billion in transactions, at costs that are rapidly approaching— and in many cases achieving—the UN’s Sustainable Development Goal of 3%. Additionally, we are proud to offer our services in 17 languages, connecting customers to over 4.2 billion bank accounts, over 1.2 billion mobile wallets, and approximately 460,000 cash pick-up options worldwide.
  2. Secure and Ethical Transactions
    We’re committed to building trusted financial products that protect our customers and deliver secure and ethical transactions. In Q4 2023, over 95% of transactions on our platform required no customer support, and our total transaction losses (including fraud, chargebacks, and other disbursement losses) represented just 0.10% of our total 2023 send volume and just 0.15% in the previous year.
  3. Customer-centric, Inclusive, and Diverse Global Culture
    At Remitly, our global teams are united by a shared commitment to serving our customers. We believe that building a diverse and inclusive culture enables us to better understand and meet the needs of our customers around the world. In 2023, Remitly’s 12 global affinity groups promoted continuous education on DEI topics, resulting in 81% of Remitly employees feeling a sense of belonging. We also continued to invest in the Remitly Scholars program, which enables Remitly employees to fund scholarships for students at two major universities in the Philippines. Since launching the program in 2015, we have provided scholarships amounting to more than $800,000 in total financial support.
  4. Protect People, Our Operations, and the Planet
    We are dedicated to protecting people, our operations, and the planet, and recognize that climate-related risks are increasing for the customers and communities we serve. In 2023, we supported people in climate-vulnerable areas by expanding the accessibility of funds and responding to natural disasters in five countries, providing over $50,000 in fee-free transfers or discounts.
  5. Extending our Global Impact with Philanthropy
    In 2023, we donated a combined $600,000 through Remitly and employee giving, Remitly fee-free transfers and discounts, and grants made through Remitly Foundation. Our giving was primarily focused on two key impact areas: advancing financial inclusion, and increasing community resilience for refugees, immigrants, and their families around the world. Remitly employees also volunteered over 1,100 hours in support of over 250 nonprofits that champion local and global causes they are passionate about.

As you read this report, we hope you will be inspired by what we’ve been able to accomplish together, and that you’ll join us in our work to transform lives across borders with trusted financial services.

To read the full Global Impact Report and learn more about our progress and future initiatives, visit Remitly.com.