CurrencyFair keeps costs down and services streamlined for those seeking a cheaper alternative means to transfer funds overseas.
Founded in Ireland almost a decade ago with a mandate to provide fair financial services for everyone, CurrencyFair has grown into one of the leading providers of international money transfer services for consumers and businesses. It offers an online platform for fast, convenient and transparent transfers with secured service. According to CurrencyFair, their cost for international money transfers may be up to five times less expensive than through conventional banks.
“CurrencyFair prides itself on customer experience,” explained Paul Byrne, Chief Executive Officer. “Our customers trust us with their funds, so we know how important it is for them to be able to reach us if they have a query. Our team is available seven days a week to answer any questions, and we are consistently updating our Q&As to ensure that our customers have all the answers they need at their fingertips.”
A Supportive and Pro-business Government
In early 2019, CurrencyFair established its Hong Kong office as the company’s Asian hub, and expects to double its sales and operations team in the city by 2020. “The Asian market has long been part of our growth strategy,” revealed Byrne. “The Hong Kong government has been very supportive of the FinTech sector with a funding support and new initiatives, together with exceptional infrastructure and very strong pro-business policies.”
“In addition, the fact that most people are bilingual, speaking both English and Chinese, makes it an ideal location for companies coming to Asia or setting up an international operation. The robust legal and financial framework that Hong Kong has in place makes it highly appealing for both established and start-up businesses. Being able to access Mainland China in 30 minutes makes cross-border business easy and enables us to build relationships with our Mainland Chinese partners,” he added.
Byrne believes that Hong Kong’s strategic location makes it perfect for any multinational company entering the Mainland market. “While Hong Kong is our Asian hub, it is clearly a gateway for companies who want to enter Mainland China—a huge market that received in excess of US$61 billion in remittance payments in 2016. It would be a natural progression for us to enter this market as we expand our Asian operations.”
After spending much of 2019 in Hong Kong, Byrne appreciates the introductions to key partners and advisors that InvestHK provided. He found the city very vibrant. “There is an amazing array of cultures here all seamlessly integrated and working side by side,” he concluded.
- Established in 2010, Ireland headquartered CurrencyFair provides international money transfer services to consumers and businesses
- Its expansion includes setting up Hong Kong as its Asian headquarters in 2019, leading to the creation of 20 new jobs in the city to date
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