Our client, a renowned manufacturer of components catering to the engineering sector, identified a unique market need and developed a cutting-edge product that garnered global interest. Their innovative creation led to a growing network of international customers.

Initially, our client managed international transactions by requesting suppliers to pay into their GBP account from various native currencies. However, this process incurred a significant cost, with banks imposing charges of up to 2.5% through their automatic currency conversion feature. These charges were eroding profitability, either leading to inflated product prices and decreased competitiveness or outright financial losses during revenue repatriation.

We recognised our client's pressing issue of incurring substantial charges with each transaction. To address this challenge, we worked closely with our client to gain a deep understanding of their sales process and infrastructure.

This understanding allowed us to tailor our solution effectively.

We introduced a multi-currency account, enabling the client to receive sales revenue in their customers' native currencies. This strategic placement of our product provided a crucial advantage. It granted our client the flexibility to decide when to convert currency, enabling them to capitalize on more favourable exchange rates. By avoiding auto-convert bank charges, they not only achieved greater competitiveness in pricing but also expanded their global sales footprint while mitigating risk.

Thanks to our partnership and the implemented FX solution, our client gained full control over their FX risk. They now manage international transactions with efficiency and cost-effectiveness, positioning them for sustained success in the global market.

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