The rapid evolution of technology has profoundly altered the banking and financial services industries across the world. With the rise of brash new fintech startups, many traditional banks are starting to feel the heat. In less than a decade, fintech startups have metamorphosed into multi-billion-dollar enterprises with hundreds of millions of customers.
While individual consumers relish improved access to financial products and allied services, small and medium-sized enterprises (SMEs) have lagged behind. In the ASEAN market, where they form the backbone of most national economies, this is far from ideal.
Investree is a B2B financial technology lending company in Southeast Asia with a mission to use data and technology to make financing more accessible and affordable to SMEs while connecting them with lenders who want to support them and gain an attractive return.
Through collaborations with strategic partners in the digital and financial ecosystem as well as the creation of innovative financing products, Investree commits to continuously providing various digital solutions for SMEs.
By expanding the area of business operations to Indonesia, Thailand and the Philippines, Investree needs one integrated platform for financing & business solutions.
Previously, Investree relied upon banks for their overseas transfer. However, they found some limitations in using bank services to make transfers within Southeast Asia, and also to the US and Europe, specifically in terms of speed and simplicity. Investree management found this process inefficient and wanted to maximize their productivity.
"As we expanded out of the country, we needed fast solutions for cross-border payments. While our banks are great, there are limitations for cross-border transactions. That was what necessitated the switch to Wallex," said Liliana Bambang, Investree's CFO.
To optimize the company's productivity while continuing to drive growth with their international operations, Investree looked for a non-bank alternative and decided to choose Wallex after being given a visit presentation by Wallex's team.
Wallex is a fintech-based alternative to the traditional route of making payments, offering rates that were better than the Bank’s, with cheaper fees and faster timelines for delivery of funds - through their Wallex Business account.
After being properly set up within Wallex’s online ecosystem, Investree’s Finance team was able to make end-to-end overseas transfers 24/7 from the comfort of their office (or home!). Right from funding the payment to executing the transaction with a particular exchange rate. Although everything was done online, Wallex provides a dedicated account manager to assist with any transaction process.
Investree has saved up to 70% in fees on their cross-border payments. Investree's expansion across the region warranted a quicker solution for their cross-border payment, and they are glad they switched to Wallex.
Why Invetree Switched to Wallex
Wallex is fast! After switching to Wallex, Investree saved 1-2 business days on every cross-border payment. Having 5 to 10 international transactions each month makes the speed of the process very critical to the company, especially for interest payments.
Moreover, Wallex's rate is almost the same as the rate of competitive banks
"Now we've got a simplified method to make transactions coupled with excellent speed and rates."
By using Wallex, Investree can easily configure and make payments anywhere and anytime. Thanks to Wallex's simple yet powerful FX capabilities, Investree can manage and change the needed currencies for their global payments.
"We needed a simplified method for cross-border transactions. So what we found in Wallex is that Wallex provided Investree with simplicity and it has fast SLA response times in responding to issues."
Wallex offers quick responses from dedicated account managers based locally and virtually to give guidance on any query - big or small.
"Despite rapid digitization in this industry, we're happy to have a dedicated account manager - kudos to Wallex for retaining human services!"
Experience smart and low-cost payment solutions for your business with Wallex
Wallex is more than just money transfers for your borderless business. We exist to give you the best financial solution at every stage of your growing business.
Wallex has provided currency exchange and global payment needs to several successful companies in Asia, and we can do the same for your business. There is no question that our fast, simple, and dedicated support is a major factor in Investree's success today.
For more information about Wallex and learn how it can help make your business run more efficiently and practically, please visit www.wallex.asia or talk to our FX expert to learn how Wallex can benefit your business.