FairFX CEO, Ian Strafford-Taylor, said: “I am immensely proud of what we achieved last week during the busiest period in our history. Our infrastructure enabled us to carry on providing our services to customers through the whole process, whilst we also had people in place 24/7 to constantly update our rates and ensure minimal FX risk. To come through this period with a record week only goes to emphasise how resilient and scalable our business model has become.”
FairFX, the FinTech low-cost currency provider, delivered a record week in terms of KPIs during the final stages of the UK Referendum, with revenue up 30% on the previous record week achieved in July 2015 and up over 50% on the same week in June 2015.
Against this background of record volumes, FairFX’s platform and IT systems remained fully operational throughout the last few days of the Referendum when some peers did not accept business, underlining the robustness and scalability of the Company’s IT systems and processes.
The Company has also experienced an exceptionally busy period throughout June and as such is cautiously optimistic about the immediate prospects for trading volumes. The Company will update the market further with its trading statement in July.
