A review of 2016
2016 was a year of enormous progress both regarding developing our fx and payments business and in the initiation of two new product lines. Our team has much to be proud of and thank you to our loyal and growing client base for your continued support! We have hugely ambitious plans for 2017 but in the meantime let’s reflect on the past year.
- Our client FX and payments turnover increased 3.5 times
- Team members increased 4 times
- Total employees grew to 12
- Extended our online platform to 16 real-time currencies
- 20% of our volume was forwards hedging
- Completed our online onboarding capability linking into our KYC and compliance engine. We can now seamlessly review and approve new clients within 24 hours
- 95% of our clients were repeat users
- Moved out of our old home at the ‘The Vault’ co-working space and into our very own 2,000 square feet office in the Manulife Financial Centre with oodles of natural light and plenty of space for expansion. No Vitamin D tablets required anymore!
- And finally, we transacted a total of USD 160,000,000 in client FX turnover
A few milestones
- Launched our Masspay module enabling bulk global payments
- Released our open API and mass payment processing offering
- Early in 2016 we started development of our E-commerce platform - functionality includes multi-currency real-time balances and payments. As always, faster, easier, better and cheaper! This is not a trivial undertaking. Linked to our transaction and payments capability we now have a cloud-based real-time core ‘banking’ system built entirely in-house by our uber talented Hong Kong-based development team. It’s going to be the foundation of a broader range of services and functionality we plan on launching in Asia. Stay tuned as we continue to develop this business line.
Some of our plans for 2017
- Target is to process USD 1 billion in payments, a 6x increase YOY
- Expand our international presence and licenses
- Launch our E-commerce offering
- Release our mobile application
- Continued enhancement of our platform in all 3 of our major product lines
- Work on automation so we can scale efficiently!
These are ambitious plans but our growing team possesses the ability and motivation to be successful. Thank you to our clients and partners for joining us on this journey!