Digital smarts helping businesses grow
“Any SME will tell you, when it comes to service providers, they need to be able to talk to someone that knows their business and is quick to provide guidance,” he says.
The SME sector is proving responsive to the OFX offering, with the sector’s share of OFX revenue growing from 30 per cent to 45 per cent over the past five years.
Malcolm says new product innovation is another critical component of OFX’s business model.
OFX’s flagship Global Currency Account is a case in point.
The Global Currency Account has been designed to simplify cash-flow management for online sellers trading internationally. Online merchants can manage multiple currencies including euros, British pounds,US dollars, Hong Kong dollars, and Canadian dollars in one convenient place, while saving money on exchange rates.
“Historically, it has been difficult to obtain a local bank account without being physically present in a country, making it challenging to do business in another currency,” Malcolm says.
The Global Currency Account helps businesses better manage their global revenue as well as efficiently manage every account, balance and transfer from multiple marketplaces in multiple currencies. Account users can hold balances and make secure payments to their global suppliers and even pay taxes directly from the account.
“The world is moving to new ways of making money that require new ways of moving money securely and easily.We are excited to be a part of creating efficiencies in the global economy for our ecommerce customers,” Malcolm says.
“And we are just getting started.”
Licensed by Copyright Agency. You must not copy this work without permission.