Historically, large banks have run very profitable businesses by charging fees to execute relatively simple transactions, such as foreign exchange or international payments, for their clients. Those fees have varied substantially depending on the size and sophistication of the clients. For example, small and medium businesses (SME’s) typically get charged more than the bank’s largest and preferred clients. For SME’s these fees can add up to as much as 5% to the cost of converting and transferring funds internationally, a significant cost to business owners. Why did the market develop in such a manner? Because banks have benefited from a relatively opaque market, where the true cost of transacting is difficult for SMEs to determine. Most people assumed there were no other easy alternatives, until now
The world is changing and technological innovations can now put the wholesale pricing capability of professional FX traders on your desk, in a secure and transparent manner. The FX Hub’s easy to use online platform is dedicated to providing easy, affordable and transparent foreign exchange and international payment services to every company regardless of size. And not only do we provide competitive rates, we prove it to you. We are the only FX service provider to deliver quotes that show both the live mid-market rate (the wholesale rates at which banks, and only banks, buy and sell currency between each other) and the transparent small fee that we charge to help you manage your FX and payment needs. We believe that everyone should get a fair deal and that your money should stay in your pocket not the banks.
The time has come for clients to get a fair deal.
Over the past 20 years, Jamie has been on the founding team two companies, taking them from inception to successful IPO: Uproar.com
(UPRO) in 2000 and LogMeIn (LOGM) in 2009. At LogMeIn, Jamie pioneered the Freemium conversion model that was key to LogMeIn’s explosive growth and success. His passion for innovative ways to improve customer experience has resulted in consulting engagements with multiple venture-backed startups in Boston, San Francisco, Budapest and Ireland.
Jeff has over 15 years of experience of international business development and sales. He’s been part of the founding teams of three companies, including LogMeIn, which had a successful IPO in 2009 (LOGM). At LogMeIn, Jeff was responsible for the early stage market development, managing international sales operations in Hungary, Boston, London and Amsterdam. He has also been an investor, advisor and partner to multiple start-ups in North America and Europe.
Over the past 16 years, Mike has been a property developer in Alberta and British Columbia (Painted Ridge), an investor in early stage oil and gas and technology companies and supporter various charities across Canada. As an NHL goalie for over 19 seasons, Mike has won over 300 professional games, been in five all-star games and is s a two-time Stanley Cup winner.
Marc-Andre is an experienced finance professional and entrepreneur with a strong track record of value creation and high impact involvement with early stage companies. He has notably raised equity and debt capital for numerous new ventures through his network of both private and institutional investors. Earlier in his career, Marc-Andre spent 15 years as a capital markets banker with a major investment bank, both in the UK and the US, with direct experience of professional trading dynamics in a variety of fixed income products with clients in over 30 countries. Marc-Andre has a BA from St Francis Xavier University, an M.Sc from London School of Economics and an M.Phil from Cambridge University.