moneycorp, a leading provider in global payments and currency risk management, announced their record B2B industry growth in the first half of 2020 which marks a ‘step change’ for the company despite a challenging economic environment.
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Strong growth in International Payments for corporate customers, and services on behalf of its Financial Institutions Group
Despite challenges with the Covid-19 pandemic, moneycorp has experienced strong results in the first half of the year, reflecting sustained demand for services from corporate clients, during a period marked by currency uncertainty and supply chain disruptions.
The results showed growth in the B2B markets supporting corporates and financial institutions growing 13% YoY, with the wider group growth being an impressive 4% YoY. Further testament to the value of moneycorp’s services was shown with their Q2 results, up 6% YoY for the B2B markets and up 14% YoY for the moneycorp group.
A suite of solutions including unique multi-currency IBAN across 39 currencies, an onshore and offshore offering in Brazil and newly granted Electronic Money Institution (E-Money), MiFID licenses by the Central Bank of Ireland (CBI), and recent expansion into Canada have attracted corporate and FI customers, contributing to record growth.
moneycorp will continue to focus on electronic payments for businesses and individuals, and services on behalf of its Financial Institutions Group.
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New senior appointments
The moneycorp board has announced three new appointments, to accelerate growth, transformation, and international expansion. Alan Bowkett will join the board as Chairman. Alan is a highly experienced European Chairman of international publicly listed and private equity-backed companies operating in highly regulated markets.
William Paul, Head of Financial Services at moneycorp’s parent company Bridgepoint has been appointed as Non-Executive Director. William is an experienced private equity investor and Non-Executive Director and is responsible for leading Bridgepoint’s transaction origination and execution capabilities in the sector, with a focus on services and technology.
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