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MAY 2012 |www.opp.org.uk


Best Financial Services Provider


Gold:Moneycorp


What did Moneycorp say in its application form? “Moneycorp places great importance on delivering a service that is credible and trustworthy, and it has an excellent reputation for customer service and providing a complete service for our partners.


In these uncertain times, consumers want to ensure that their money is safe and that they are dealing with a reputable company. Moneycorp is in a very strong position fi nancially and this is refl ected by its excellent Dun and Bradstreet rating which is the highest in the industry (4A1*). With over £18m of shareholders funds, Moneycorp is one of the best capitalised non-bank providers of foreign exchange and international payment services. Moneycorp has a broad business base, without an over-reliance on any one particular area of its business.


Moneycorp has been dealing in foreign


exchange since 1979 and has maintained ISO 9000 Quality Assurance certifi cation since 1996, a unique achievement within our industry. We hold a strong balance sheet, a track-record of continuous growth, a very low-risk business model and an ISO certifi ed end-to-end process. We strongly believe Moneycorp is the ideal candidate for the best fi nancial services provider. We are experts in currency transfers, often tasked with getting better rates than the banks, along with saving clients money we also aim to making their lives as easy as possible. Our experience in the overseas property industry has enabled us to develop a complete currency solution for clients buying property overseas, we have considered every step of the purchase process and tailored our services and our strategic partnerships to achieve this goal. When the customer is initially researching a property, our free, no obligation online registration process enables them to discuss their plans with one of our qualifi ed dealers at their convenience, they will receive market information along with a long-term currency outlook to assist with their budgeting. Clients are guided by our personal dealers as to the best time to transfer a bulk payment – after which they are referred to one of our banking partners in


WINNERS OPP AWARDS FOR EXCELLENCE 2011 | 57


the country in which they are purchasing their property. Should the client have to make ongoing mortgage payments our market leading regular payment service allows fl exible direct debit payments of any frequency or day of the month with fi xed or variable exchange rate options. Clients can order their currency via our website and have it delivered to their door or picked up at one of our bureaus at the airport. Finally, to complete the process, we can recommend companies that will help them both insure the property and rent it out to holiday makers. Being able to maintain these levels of


service has enabled Moneycorp to forge and maintain relationships with some of the largest organisations in Europe such as BNP Paribas, The Telegraph Media Group and Associated Newspapers. For these companies, reputation is paramount, and for them to happily put our name alongside their own is a testament to our hard work over the last 30 years. Our goal is to not only save our clients money but also provide unrivalled customer service. In the same way, we are heavily focused on the customer journey, where we take the same approach as that we use with our partners. Our team of 31 account managers, spread over 4 offi ces worldwide, familiarise themselves with our partner’s sales process and integrates our services with the aim of not only adding value to their clients but creating a robust and transparent payment system. In doing this, we perform an audit of


their website and give their developers access to our online sales toolkit. This allows them to download iFrame currency tools as opposed to the standard advertising banners. Often, our specialist Digital Marketing team will perform webinars to assist with partner’s online marketing and SEO optimization. All of our property partners have access to our online trading system, which features our unique PayCollect service; allowing them to invoice their clients via email for the required currency. All the client has to do is click through to a secure platform, enter their card details and pay in a choice of 16 local currencies with a complete breakdown of charges and rates. Once the client is registered, our


partners have access to our online Partner Portal that updates them with all of their client’s contact and trade


London | Moneycorp started here, and now has become a truly international player What does Moneycorp do?


Moneycorp’s aim is to set the standards within the foreign exchange and global payment markets. Since its launch in 1979, Moneycorp has grown considerably, now employing more than 600 staff across 3 core markets – retail currency (bureau de change and cash home delivery services), commercial foreign exchange for businesses and individuals with offices in the UK, Spain and the US and wholesale physical currency ... providing more than 70% of the private banks in London. Last year, Moneycorp had a turnover of £5.2bn, made £60.8m gross profit (6.9m net profit before tax) and conducted 2.5 million customer transactions. Whilst revenue is the ultimate measurement of success, it is important to recognize the quality of our work, it says. In our last customer survey, 99% of Moneycorp customers stated that they would recommend our services.


statuses. We understand that our partners often do not get paid until the money arrives, therefore knowing where their client’s funds are at every step of the way is vital. When a client books a deal with Moneycorp, the partner automatically receives an email notifi cation. And once the deal is completed, the partner receives a second email notifying them that the funds are on their way. In a diffi cult economy, everyone is


looking to boost their core business by getting more people through the door. We have developed a referral panel that allows our staff to easily refer relevant clients to our partners. In addition,


our Business Development Team are tasked with linking as many of our partners together and creating lucrative business introductions.


As well as providing high service levels for our partners and their clients we understand it is important to remunerate them for introducing their clients. We create bespoke agreements in line


with joint business goals that form the basis of sustainable relationships that are profi table for all parties. Too often in this industry deals are brokered that are unrealistic and can result in one-sided partnerships with customer service levels being affected.”


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