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Amid the continually increasing value of deliverable FX firms, comparison site Kwanji goes live today
Often, when interest in a specific area of the financial sector grows, many new ideas are spawned.
As the wave of boardroom discussions within deliverable FX companies continues to center around high-value initial public offerings, a new company has sprung into existence today, offering a web-based platform aimed at reducing the cost of FX payments for small to medium enterprises based in Britain.
Making its foray into the market today, Kwanji‘s raison d’etre is to offer an online service that gives users access to the larger deliverable FX providers, as opposed to banks, credit cards companies or other international payment providers.
With new a new dedicated regulatory authority which will dedicate its efforts purely toward payment processing firms on the horizon in the United Kingdom, it is interesting to note that this particular firm, being an FX provider, will likely operate outside of the remit of the Financial Conduct Authority’s proposed dedicated regulatory structure for payment providers, which may prove of practical value to its users in terms of limiting bureaucracy.
In terms of functionality, the firm sets itself among other retail comparison sites which operate in Britain, such as Money Supermarket, and intends to simplify the process associated with international transactions.
In terms of placing deliverable FX business with its partners, it operates in a similar fashion to that of affiliate sites, and with substantial IPOs having been on the cards recently for firms such as gaming introducing broker XLMedia, combined with the gargantuan sums being considered relating to Travelex’s IPO, this could be a timely entry into a burgeoning marketplace.