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Posted by Erika Lewis |
August 13 2020
moneycorp Breaks into the Canadian Market with Expansion into the Toronto Region
Since 1979, the moneycorp Group has served the growing foreign exchange and payment needs of global businesses, online sellers and personal clients.
moneycorp offers a state of the art online payments portal, while providing its customers the ability to mitigate their foreign exchange risk through a sophisticated suite of FX hedging solutions.
With operations across the globe, moneycorp is a leading provider of global payments and currency risk management, delivering high touch service and customized products that put its customers’ business first. moneycorp’s North American operations has served clients in the U.S. for over two decades, focused on private clients’ money transfers, corporate risk management and global payments solutions. The company’s recent expansion into the Toronto Region marks a major step in moneycorp’s global expansion plans to provide a comprehensive and unique offering to the market.
The Canadian market was attractive to moneycorp for a number of factors. Over 80% of businesses in Canada have some form of foreign exchange requirement and Canadian businesses are particularly savvy in mitigating and eliminating currency risk exposure – a core competency of moneycorp. Finally, the decision was strengthened by the high caliber of experienced talent in the industry, located right here in the Toronto Region.
moneycorp was referred to Toronto Global through a service provider in the financial services sector and we worked with the company to deliver an overview of the Toronto Region’s business ecosystem. Toronto Global provided moneycorp with guidance on the process of setting up a subsidiary in the Toronto Region, as well as insights on employee benefits in Ontario and information on relevant local conferences and events.
The company will work with private clients, such as high-net-worth individuals looking for real estate purchases in the U.S. and abroad. For corporate clients, risk management hedging solutions are essential in these volatile currency markets and moneycorp has a team of seasoned FX specialists ready to meet clients’ business objectives by providing strategies that mitigate foreign exchange exposure. A dedicated payments team will help companies access the intuitive trading platform, moneycorp online, which streamlines and integrates global payment processing.
“There are some fantastic cities and areas of Canada, and I have been very fortunate to have traveled throughout Canada during my career, but Toronto is easily my most favourite city,” said Bob Dowd, Chief Executive Officer, Moneycorp North America. “I know it best as I traveled for business for a week each and every month for over twenty years. I am blessed to have worked with colleagues and customers that grew into life-long friends. Those friendships and memories are all based in Toronto.”
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