Business Age Magazine
December 2000 Edition
Getting your money for foreign travel has
never been easier (or Cheaper.) than now.
Whether you are booking a family holiday,
or you are a business traveller faced with
a sudden, unexpected trip, help is at hand.
London based Online FX offers foreign exchange
and International Money Transfers online,
with very competitive, commission free rates
of exchange. Next day delivery to your home
or place of work is another element of their
service, which has proved highly successful.
The site has recently been modified and
now offers probably the easiest, most user
friendly and secure service on the net.
With Online FX, you only have to go to the
site, check the rates, select the currency
you require, the amount you require and
order it. You can order cash, travellers
cheques or a combination of both, and for
travellers visiting several countries, you
can buy a variety of currencies at the same
time, with an on screen total, so you can
keep track of what you have purchased.
The state of the art back office system
enables Online FX to analyse customer traffic,
forecast demand and thereby maximise their
service. Automatic feeds on the foreign
exchange market switches in turn to different
parts of the world as each market closes,
keeping Online FX at the forefront when
it comes to up to the minute rates. This
ensures their rates are updated to offer
the most competitive value through their
currency providers. This competitiveness
applies not only to the basic currencies
such as dollars, pesetas etc, but also to
the more esoteric currencies such as Malaysian
ringits and Kenyan Shillings.
The quality of service offered has resulted
in a significant level of repeat custom,
but more importantly, in the absence of
an association to regulate the foreign exchange
business, they have been able to satisfy
both the public and businesses that their
site security systems are of the highest
quality. Obviously, with the increasing
level of International Money Transfers being
handled and the size of these, security
is a crucial element of their success.
Since its' launch in February, Online FX
has set out to attract customers and clients
from both the leisure and business sector,
developing strategic partnerships with several
other successful companies such as Rapidinsure,
Holidayautos, Association of English Travel
Agents, Tiny Online, Asians Connecting,
Business Serve and Europelaw. Negotiations
with several other companies are also taking
place, including B2B sources and other major
players in the leisure travel industry.
This method of marketing works well. Sitting
on relevant partner sites, Online FX add
to their level of customer service and site
interest, whilst offering the host site
a source of income. Online FX have the ability
to provide a storefront, reciprocal link
etc. at little or no cost and the advantage
that the Online FX shopping system can sit
on their server and the customer can place
an order without leaving the partner's site.
Participation at several exhibitions including
the Great Northern Ski show, Daily Mail
Ski & Snowboard and Business Travel
2001 are planned, as previous exposure at
exhibitions such as Homes Overseas, proved
very effective in generating both business
and public interest.
Whilst plans to move into Europe and the
U.S are on the drawing board, the Asian
market has shown itself as a major contender
for development potential, thanks to partnerships
recently developed by Online FX within the
community.
The team at Online FX is developing rapidly,
to cope with the growth and to ensure that
the highest standards of service to the
customer are maintained. The philosophy
of customer service applies at all levels,
and there is a genuine desire to build personal
relationships with business partners by
constant communication and reacting to feedback
quickly and positively. So far, this has
paid off, so successfully in fact, that
in less than seven months we have already
exceeded our original turnover forecast
by sixty percent.
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