The new way to get the best exchange rate; air.exchange is launched in a bid to shake up the money transfer market
"It's difficult to choose a money transfer company with so much confusion as to who really is offering the best rate," says Paul Mclean, co-founder and CEO of air.exchange.
"When you run your own 15-min auction, then you remove the doubt. A straight-forward competition, and transparency, means you get the best result. Our customers are saving a lot of money."
The international money exchange market has been a target of Fintechs in recent years. Companies are using new processes and exploiting new technologies to compete for a share of the $600bn market. They are spending huge sums on branding to gain market share. The large players easily spend over $10m on marketing every year.
"Our customers only care about getting the best rate and that's what we're good at. They don't give a monkeys' about peer-to-peer, blockchain, or whatever the latest buzz is," says Paul. "We've had a strong start. air.exchange has already helped our customers save on over $4m in auctions before we've even officially launched, with customers across the UK, Europe, MENA, and Asia-Pacific."