56 | AWARDS for Excellence 2010 OPP AWARDS WORDS | Geoff Hadwick
www.opp.org.uk |MARCH 2011
Right on the money
Every month OPP profi le the winners of last year’s OPP Awards for Excellence and gives you the real reasons why they scooped up the prizes. This month we are looking at the winners of the Best Currency Company category and at the winner of our award for the industry’s number one media brand. It is all about customer care and getting things right from the start, said the judges when looking at both of these categories.
What is Currency Index?
As the only currency company to be directly linked to an overseas property company (PropertyIndex. com), Currency Index says that its mission is “helping buyers of overseas property, with extremely competitive exchange rates and a fi rst class personal service.”
“With a small team of 7 and access to PropertyIndex’s support infrastructure and vast investment in the overseas property market, Currency Index is as unique in the FX industry as it is innovative,” the company told the judges.
“As well as off ering client services for consumers, we are able to support referring overseas property agents better than any other currency company, by off ering lead generation and marketing services through
PropertyIndex.com. This is often provided at no cost and in addition to market-leading commission rates on FX referrals.”
Currency Index commenced trading in 2008 and yet was among the fi rst currency brokers to become fully FSA-Authorised in 2009. Its turnover has now reached £6m per month.
Best Currency Company Gold Medal Winner:
Currency Index
Currency Index uses multiple sources to provide the best exchange rates for its clients.
“Unlike some companies, who are tied to a single counter-party,” it says, “we use different providers depending on the currency and contract type required, to maintain a competitive advantage. All pricing is based on live second-by-second market rates, and we are able to beat competitors’ quotes in the vast majority of cases.” Currency Index also has access to some
of the more tricky currencies such as the Israeli Shekel, various Caribbean local currencies, the Bulgarian Lev, and the Egyptian Pound … most of which are not available at commercial rates through many companies. Currency Index provides free transfers for transactions over £30,000, and competitive charges (from £7) for smaller transfers. Approach to customer service Every Currency Index client is assigned a dedicated, experienced currency dealer and the company promotes this as a “premium service that avoids a push-button call centre approach. The idea is to ensure “clients receive the very best levels of support and assistance,” says CI. And, what’s more, all Currency Index staff have several years’ experience in the FX industry, to ensure that “all enquiries are dealt with efficiently and swiftly.” CI also argues that its client payments are sent in industry- leading timescales. “While many brokers will not process client payments until the day after settlement of a transaction, at Currency Index, payments are processed within a couple of hours of settlement.
This means that transactions are completed more quickly, which is of particular value when time is of the essence in a property transaction.” Communications To keep its clients informed of market news, Currency Index also offers a currency news blog (updated daily) and a weekly email newsletter with the main economic events due out each week and an overview of market movement. Marketing
As part of the
PropertyIndex.com A winning hand | Every Currency Index client is assigned a dedicated FX dealer
group, Currency Index is able to engage with a comprehensive audience of property buyers and agents without spending huge sums on marketing. PropertyIndex gives them all the communication machine they need. “And because of this effi ciency, marketing costs are not refl ected in our exchange rates, giving a better deal to our clients,” says CI. Breadth & depth of service Currency Index offers the following services: • Spot transactions (settlement in 1-3 days); • Forward contracts (settlement up to 2 years ahead); • Limit and Stop Loss orders; • Regular Payment Plans (for monthly transfers, e.g. for mortgage or pension payments). • SEPA Euro transfers (in addition to same-day telegraphic transfers), which reduce transfer costs and eliminate receiving charges in countries such as Spain. Clients are offered written
confi rmation of outgoing transfers, by way of an IPR or International Payment Receipt, which proves where and when funds have been transferred.
Track record
Since its launch in 2008, CI has “generated an increase in business virtually every month, and continues to attract high levels of both new and repeat business, despite the recession and economic downturn.” Innovation, Referral schemes & Referral support Currency Index offers substantial benefi ts and support to referring agents. Through
PropertyIndex.com,
agents are able to receive 5 new buyer leads for every client referred who registers with Currency Index, by way of a £50 credit to their PropertyIndex CPL account.
Agents then earn market-leading commission on client transactions, which can be paid as cash or as an additional PropertyIndex credit, at their discretion. Agents who refer consistent levels of business to Currency Index can go on to receive additional benefi ts, such as additional buyer leads or increased commission rates paid to their PropertyIndex account.
Currency Index is the only currency company to offer these benefi ts through an established portal. It keeps them right on the money.
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68