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Home Finance IFX Payments reports another record year

IFX Payments reports another record year

by uma
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December 2022: Despite the challenging and volatile economic conditions of 2022, IFX Payments is set for another record milestone as annual revenue has risen by over 30%.

In 2022 alone, IFX Payments has grown at a rapid pace as more and more customers realise the benefit of conducting their own FX risk management and managing their cross-border payment needs through IFX’s self-servicing multi-currency digital wallet – ‘ibanq’. It’s this product that has driven payment volume increases by 258% and FX trade volume by 234% throughout the year; and looks set to be a continuing force behind the organisation’s strategy going into 2023. 

Through the success of its existing offerings, the company has set out to recruit some of the best talent in the industry and has grown its employee base by over 25% with the view of developing new and exciting solutions that are tailored to reflect each individual client’s business model to save them both time and money.

With strong regulatory and operational foundations reinforced throughout 2022 and more to invest in its state of the art payment products, IFX will be expanding its functionality, with new inbound and outbound payment routes and currencies due to be released in early 2023 coupled with the commitment to deliver faster settlement speeds and more secure payments processing for its existing 10,000 strong customer base.

Will Marwick, CEO of IFX Payments says: “In spite of the current global economic turmoil, our record-breaking results are testament to the team at IFX that work extraordinarily hard to make this the successful business that it is. Through focusing on scalable back office functionality, implementing new regulatory protocols and investing in really talented individuals we’ve been able to deliver a faster and more secure payments offering for our customers whilst simultaneously optimising the financial performance of the business. It’s through building these foundations that we’ve been able to simultaneously develop exciting new capabilities which we look forward to sharing with our customers in early 2023.”

IFX Payments was founded in 2005 to provide bespoke FX solutions to both corporate and private clients. With offices in now in London, Amersham, Warsaw, Dubai and Australia, their success to date has been built on proprietary banking technology aimed at managing risk and delivering bespoke and secure global payment solutions.

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