Walpole: What is Moneycorp and what is its USP in the market?
Leon Joseph: Moneycorp is a leading payments services provider for businesses, institutions and consumers. We strip away the complexity and cost of international banking – no matter your challenge – through our suite of currency management tools, cross-border payment solutions and hedging strategies.
We place a relentless focus on creating a balance between shaping the future of the payments industry and building meaningful relationships with our clients and partners.
With over 40 years’ experience and innovative technology, we give CEOs and business leaders total confidence and control over every payment, allowing them to take advantage of every opportunity - even those created by turbulent times.
What is your role at Moneycorp and what does that entail?
I lead a team of foreign exchange (FX) dealers at Moneycorp. We ensure our clients are fully informed on relevant market risks and updates to secure the most competitive rates, enabling their businesses to succeed and grow internationally. Currency markets can be a complex beast, but we’re here to help our clients make sense of it all and feel in control. We’re fortunate to work with some amazing businesses – from growing founder-led brands to multinational corporations.
Day-to-day, we spend a lot of time talking to our clients over the phone, sending them market intelligence and explaining what it means for them and what their options are. Long term, we’re privileged to play a pivotal role in the growth journey of our client’s businesses.
Why did Moneycorp want to be involved with the Walpole Brands of Tomorrow programme?
2023 is the third consecutive year that Moneycorp has co-sponsored the Brands of Tomorrow programme, and each year we continue to be inspired and excited by the brands we work with throughout the process.
It’s a privilege to play our role in the luxury sector as brands navigate a tumultuous international market environment. UK businesses of all sizes have battled with red tape and higher trading costs in the last few years. However, this hasn’t hampered luxury brands' passion for trading internationally. And that’s really where we come in.
We’ve been delighted to have continued our relationship with some of the programme’s alumni, ensuring they benefit from access to Moneycorp’s competitive exchange rates, low fees and bespoke customer service.
What is your company’s role within the Walpole Brands of Tomorrow programme?
Alongside Mishcon de Reya, Moneycorp sponsors the Brands of Tomorrow programme. Through the partnership, Moneycorp will mentor the 12 brands selected and provide exclusive access to our team of experts who can offer direction around international payment requirements and currency risk, ensuring they can grow their luxury businesses in 2023 and beyond.
What’s one piece of advice you’d have for any emerging luxury business when it comes to payments?
The advice I always hang my hat on is planning. As the adage goes; by failing to prepare, you’re preparing to fail. The same is true of handling international payments: planning positions you for success.
The thing about foreign exchange is that many people don’t know what’s possible until they’ve spoken to us. That’s why we always advocate for engaging a foreign exchange specialist early, so we can help build a strategy for your foreign exchange provision from the start.
We start any new client relationship with a complimentary FX health check. We use that information to build a plan to manage your risk and protect profit margins from exchange fluctuations. At Moneycorp, we can also help on a more practical level with solutions that give businesses the power to receive funds and raise invoices in multiple currencies – immediately breaking down some of those barriers to entry, while also protecting the bottom line.
We’ve had the privilege of supporting many Brands of Tomorrow alumni with their international payments, and look forward to extending our services to the class of 2023.
> None of the information contained in this article constitutes, nor should be construed as financial advice. TTT Moneycorp Limited (company number 738837) is registered in England. Its registered office is at Floor 5, Zig Zag Building, 70 Victoria Street, London, SW1E 6SQ. Moneycorp is a trading name of TTT Moneycorp Limited which is authorised and regulated by the Financial Conduct Authority for the provision of payment services (firm reference number 308919). Date of approval: 22/02/2023.
