A US-based provider of digital financial services to immigrants and their families is to create 120 jobs in Cork.

Remitly Global has said the new roles will come on stream over the next six months.

The positions will be in areas such as customer protection, customer success and compliance.

The company has had a presence in Cork since 2020, when it opened a fraud and compliance office.

It currently employs 110 people there and recently took on 20,000 square feet of office space at Penrose Dock in the city.

"As Remitly continues to grow, we're incredibly excited to nearly double the size of our talented team in Cork this year," said Rene Yoakum, Chief Customer and People Officer at Remitly.

The Seattle headquartered company was set up in 2011 and employs 1,800 people in seven offices around the globe and remotely.

It aims to help immigrants to send money home in a safe, reliable and transparent manner.

The business provides mobile based remittances and financial services for immigrants and has five million customers in 150 countries.

The news was welcomed by Tánaiste and Minister for Enterprise Trade and Employment Leo Varadkar and IDA Ireland which supported the investment.

"Remitly’s presence in Cork strengthens the South West region’s FinTech cluster," said Martin Shanahan, IDA Chief Executive.

"Its plans for its Fraud and Compliance Centre of Excellence is a strong vote of confidence in the highly skilled and talented workforce available in the region."

The company has also partnered with University College Cork and Cork Institute of Technology.