The LASCO Financial Services Group is comprised of LASCO Financial Services Limited. Our target market is the banked and marginally banked with the aim of bringing them further opportunities for financial inclusion.
Our main business activities are (1) money transfer (send/receive transactions) within Jamaica, as well as transactions to and from Jamaica to the world; (2) currency exchange (in cash and drafts for USD, and cash only for GBP, CAD and EURO) to local businesses, small entrepreneurs and the general public; (3) consumer loans to salaried borrowers and (4) business loans and support to micro and small businesses, (5) distribution of Visa Prepaid cards (to receive remittance and make electronic payments) and (6) e-payment solutions for businesses.
Having launched our consumer-facing brand, LASCO Money in December 2016, we rebranded our 3 branches, Red Hills Road, Papine and Montego Bay to LASCO Money Store, providing a full suite of financial and value-added services including bill payment. Both Money Transfer and additional value-added services are provided through our 3 branches and over 135 locations in our remittance network, with Cambio services through 4 sub-agents. LFSL operates its own Cambio branches in 2 locations in Kingston and 1 in Montego Bay. The loans department has expanded with locations across the island, including; Red Hills Road, Down Town Kingston, Maypen, Linstead, Santa Cruz, Browns Town, Morant Bay, Montego Bay and Mandeville.
LFSL provides its services under a number of well-recognised brands including MoneyGram and Quick & EZ for bill payment. Our distribution channel through our agent network includes large groups such as Mobile Electronics, Prime Trust Financial, Paymaster, FHC Credit Union, COK Credit Union, C&WJ Credit Union, and several independent business owners.
LFSL is publicly traded on the Junior Market of the Jamaica Stock Exchange under the trading symbol LASF. We are licensed and supervised by the Bank of Jamaica ( BOJ) and are subject to anti-money laundering regulations. Additionally, LFSL is a member of the Cambio Association of Jamaica, Jamaica Money Remitters Association and the Jamaica Micro Financing Association.
Our range of service and product offerings is driven by the needs of our customers and our aim is to provide them with the utmost in convenience and financial inclusion. We are also committed to our duty to our shareholders to remain commercially viable and deliver sustainable returns.
Our major community-based marketing initiative each year continues to be the sponsorship of the Social Development Commission’s 20/ Twenty Cricket programme, where communities islandwide compete for fame and prizes.
LASCO Money is a leading provider of retail financial services founded by Lascelles Chin, who is recognized by Jamaicans as an outstanding business leader, exporter and philanthropist. LASCO Financial Services (LFSL) which has provided over 10 years of exceptional service to the Jamaican people, operates a cambio and remittance service licensed by the Bank of Jamaica (BOJ). The company holds the unrivalled position of the number one agent for MoneyGram International in Jamaica. LFSL has been listed on the Jamaica Junior Stock Exchange since 2010, attesting to the tremendous strength and continued growth of the company.
