- London-based international payments service provider publishes annual report for year ending 28 February 2018
- Report indicates strong revenue growth and benefits of investment in e-commerce
- Biggest risk factor comes from partnerships with third-party institutions
Leading foreign currency exchange and international money transfers provider Caxton FX has just released its annual report and financial statements for the fiscal year ending 28 February 2018. The report indicates solid net revenue growth and the success of investments in proprietary technology solutions.
Caxton reports net revenue growth of £14.1m ($18.6m), an improvement of 18% over FY2017. Turnover growth also improved 5% to £975.2m ($1.29bn).
The London-based money transfer service provider attributes much of its growth to investments in proprietary technology used to deliver e-commerce and enterprise solutions. In the year ahead, Caxton FX intends to continue to build its reputation as a profitable, stable innovator ideally situated to capitalize on its growth.
In terms of risk, officials believe the key threat comes from necessary partnerships with third-party institutions. Caxton FX collaborates with these parties to process and settle cross-border payments, currency exchange and other functions on client accounts. The international regulatory landscape also presents some inherent risks, but the report indicates these are minimal. All risk factors are monitored on a continual basis to ensure any negative impact on accounts is remedied immediately.
Caxton FX provides a range of products and services to help customers send money abroad. Boasting industry-leading online money transfers and mobile solutions including currency cards, international payments and a range of products for businesses, the company processed more than seven million customer transactions last year alone and currently has hundreds of thousands of users all over the world.
For more information on sending international payments with some of the industry's leading companies, read our international payments guide here.
