Co-founders of Future Forex, Harry Scherzer and Josh Kotlowitz, have identified common frustrations that many South African SMEs and individuals are facing when it comes to international payments.Future Forex is stepping in to reimagine this process, by using technology and taking a client centric approach, to provide far more competitive rates and drastically improve customer experience.When it comes to forex fees, many clients don’t realise how much they’re really being charged.
For a transaction size of R100,000 these spread fees alone can add up to R3,000, while the processing fee typically caps at R1,000 per transaction. “The secret to being able to offer a significantly more competitive forex rate than our counterparts lies in a combination of proprietary software, competitive fees and a wide range of banking partners”
“When operating in the forex space, it became clear to us that there is huge potential for improvement and we’re determined to make these improvements a reality by leveraging our strategic partnerships and the latest technologies”, says Scherzer.