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From Acquisitions to AI: how we grow sustainably

Sustainable Growth

Where would we be without technology? It makes products and services more effective and affordable for consumers, giving them greater choice and power over their lives.

Tech and all its offshoots – fintech, cleantech, ecotech, to name a few – is also giving consumers greater options to challenge the status quo and live according to their personal values. A quick search of industry headlines produces a long list of results about the latest developments in areas like AI, automation, machine learning and beyond. We are in the throes of what experts believe is the Fourth Industrial Revolution, where technology becomes part of our lives – and even our bodies – in entirely new ways.

In this rapidly evolving world of tech, how does a company like CurrencyFair continue to innovate while maintaining product integrity and an excellent experience for customers who use the product? The answer lies in sustainable growth. At CurrencyFair we are focused on expanding our services in ways that will never compromise the customer experience, put the need for growth before the people we exist to serve or prioritise style over substance.

As part of our sustainable growth journey over the past year, we have worked to better meet the changing needs of our customers and through a strategy of international growth and investment in technology.

Asian expansion

In 2018, we announced our expansion to Asia with an acquisition of Convoy Payments Ltd in Hong Kong. By working with local experts, this strategic acquisition laid the groundwork for the growth of CurrencyFair in Asian markets and gave us a strong base within the region.

After becoming fully regulated by the Monetary Authority of Singapore (MAS), CurrencyFair has opened an office in Singapore and is now onboarding residents looking to transfer their Singapore Dollars with our renowned first-class service. Close cooperation with local expat networks and a new website serving customers in Singapore have set the stage for further growth in the city-state.

The latest technology

The successful migration of our platform infrastructure to Amazon Web Services (AWS) means we now operate from a range of Amazon-supported regions in Europe and Asia-Pacific. This move ensures that our platform works efficiently on a global scale, and keeps our applications quick and responsive wherever our customers are based.

Alexa skill

Our migration to AWS was just one element of our partnership with Amazon over 2019. Working within the positive constraints exerted by this combination of disciplined innovation and sustainable growth, our team developed a global skill for Amazon Alexa. It allows customers to use their voice to check live exchanges rates, including the transfer fee in any CurrencyFair supported currency.

Additional Language Support

Serving an international customer base means allowing them to experience the CurrencyFair platform in the comfort of their own language. New French and German versions of the CurrencyFair dashboard, supporting communications and customer experience widened our customer base across central Europe and parts of Canada. Ensuring the platform is accessible and easy-to-use in any language is integral to the growth of CurrencyFair.

New Currencies

We started 2019 by introducing the Indian Rupee as the first of several planned additions to our currency roster. Customers can expect to be able to send even more Asian currencies at bank-beating rates with CurrencyFair before the end of 2019. This means we are one step closer in our mission for fair financial services for all.

Express Deposits

Sourcing a trusted provider who could match the same security and service as CurrencyFair allowed us to introduce Express Deposits. Personal account customers can now choose to deposit money to their CurrencyFair account using a valid debit card in these currencies: Danish krone (DKK), euro (EUR), Norwegian krone (NOK), Polish zloty (PLN), pound sterling (GBP), Swedish krona (SEK) and Swiss francs (CHF).

After almost a decade of experience providing bank-beating exchange rates with outstanding service, it is the goal of CurrencyFair to continuously innovate and grow without compromise for our customers. While adding smart features and in-demand currencies, CurrencyFair will always keep a focus on producing better value, world-class customer support and a superior service.

In short: At CurrencyFair we favour improving our service in meaningful, tested ways. As the saying goes, hard work is silent, success is deafening.

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