UK-based money transfer brand, Imperial FX, have announced that they are now transferring funds into the Polish market, and can beat the rates of many other money transfer firms.
The announcement comes after they have proven themselves to be a preferred provider for individuals transferring money to Brazil, Portugal and the Middle East, due to the competitive rates that their money corridors enable them to offer. They cemented their position in these markets with the acquisition of BR Money in 2015.
While many fintech firms are concentrating on digital payments and currencies, personal backgrounds and the experience in sending remittance payments means that the team at Imperial FX are increasingly aware of the financial exclusion that the digital realm is creating, and the number of ‘unbanked’ people that are unable to take advantage of these services, missing out on vital funds.
“We had held back on the Eastern European markets until we could ensure that we were offering a service that provided numerous benefits to users, especially those that are being pushed out of the digital transfer services,” explains CEO Ali Alani. “We have now been able to create a comprehensive offering to those who wish to send money back to Poland.”
“Having already invested £2 million into building our own secure and agile transfer technology rather than relying on third-party software, we are currently working on our online offering. But we are also aware of the number of individuals worldwide that may suffer as a result of the ‘digital only’ world, not being able to access funds, and being penalised with high charges and fees that the traditional services offer. Brexit has also had a severe effect on the amount of remittance sent back home by migrants, we want to make sure our services can lessen the financial burden.”