tag:blogger.com,1999:blog-42424534051101361512023-11-15T23:58:05.377-08:00betterFX - The blogArticles, comment and features from the world of FX and international paymentsbetterFXhttp://www.blogger.com/profile/09032267810248788525noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-4242453405110136151.post-34725524895198424392017-06-09T02:47:00.001-07:002017-06-09T02:50:52.499-07:00When is a blog not a blog?A visitor to the betterFX website recently commented that having a blog with no recent posts was no way to carry out a social media strategy (or words to that effect)<br />
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He is absolutely right of course, but in this case, it's mostly for the right reasons. We are just too busy helping clients with their forex and related challenges to indulge in the delights of blogging...and we don't yet have the luxury of a dedicated resource for such things.<br />
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Funnily enough my last post was just after the shock Brexit referendum result, so in a way its fitting that this next post comes hot on the heels of another political earthquake and another Conservative PM's shocking miscalculation. TM could have had another 4 years with a moderate but workable majority, but now look! <br />
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More volatility on FX markets will follow, and as Brexit looms, more companies will be looking to trade with new markets. All good reasons to make sure your house is in order, where FX is concerned.<br />
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I said we had been a bit busy these last 12 months. We're helping an exciting new challenger bank in France to launch (www.ditto.com) They plan to be a specialist FX bank for retail and also business customers. It's a great product and I am sure it will be a winning business model. They will launch this autumn in France and intend to follow with other countries soon after. I am pushing for them to do the UK as soon as possible as we need a decent FX bank over here!<br />
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I am also working on some exciting projects on the latest distributed ledger technology (aka Blockchains) for R3, the world largest consortium of banks in this space. And we have just started work with a company in the Middle East to help them build a new FX trading division.<br />
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So busy times for betterFX, and that, in a very long winded way, is my excuse for ignoring this blog!!<br />
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<br />betterFXhttp://www.blogger.com/profile/09032267810248788525noreply@blogger.com0tag:blogger.com,1999:blog-4242453405110136151.post-82712176142239417182016-06-28T01:50:00.003-07:002016-06-28T01:50:44.586-07:00Brexit – a cause for optimism or despair? <div class="OutlineElement Ltr SCX119923036" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX119923036" paraeid="{04ab3861-0234-4616-94a2-bb5424127df9}{133}" paraid="1847385588" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; word-wrap: break-word;">
<span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; font-style: italic; font-weight: bold; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB">Brexit – a cause for optimism or despair?</span><span class="EOP SCX119923036" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;"> </span></div>
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<div class="Paragraph SCX119923036" lang="EN-US" paraeid="{991c8eba-e9ad-42cf-b021-e71e88b76ee9}{87}" paraid="920864590" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; word-wrap: break-word;" xml:lang="EN-US">
<span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB"><br /></span></div>
<div class="Paragraph SCX119923036" lang="EN-US" paraeid="{991c8eba-e9ad-42cf-b021-e71e88b76ee9}{87}" paraid="920864590" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; word-wrap: break-word;" xml:lang="EN-US">
<span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB">I was pretty neutral about the remain or leave question, seeing many benefits and risk of both paths.</span><span class="EOP SCX119923036" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;"> </span></div>
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<div class="Paragraph SCX119923036" lang="EN-US" paraeid="{df95fcc1-4d42-447f-895e-342383c1148c}{48}" paraid="1757845714" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; word-wrap: break-word;" xml:lang="EN-US">
<span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB">After the leave vote won the day, I think many people</span><span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB"> </span><span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB">thought more deeply about the future than before</span><span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB"> the vote. I certainly did.</span><span class="EOP SCX119923036" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;"> </span></div>
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<div class="Paragraph SCX119923036" lang="EN-US" paraeid="{9ffb2690-5fc9-449f-b969-0f3f9039266e}{31}" paraid="442277035" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; word-wrap: break-word;" xml:lang="EN-US">
<span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB"><br /></span></div>
<div class="Paragraph SCX119923036" lang="EN-US" paraeid="{9ffb2690-5fc9-449f-b969-0f3f9039266e}{31}" paraid="442277035" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; word-wrap: break-word;" xml:lang="EN-US">
<span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB">It seems that for many this was about sticking </span><span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB">w</span><span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB">ith</span><span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB"> what we know and taking a leap into the unknown. Despite all the passionate arguments, no one can truly be sure if we will end up stronger out of the EU, whether some or all of us will be better off, and if it is only some of us, which some of us it </span><span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB">will</span><span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB"> be.</span><span class="EOP SCX119923036" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;"> </span></div>
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<span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB"><br /></span></div>
<div class="Paragraph SCX119923036" lang="EN-US" paraeid="{11e9e14e-f705-463a-8ee7-dbbbbc0c09aa}{182}" paraid="327316649" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; word-wrap: break-word;" xml:lang="EN-US">
<span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB">Politicians and other commentators have of course stated their cases as if they did know for sure what the </span><span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB">impacts would be, which has damaged them all in a sense.</span><span class="EOP SCX119923036" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;"> </span></div>
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<div class="Paragraph SCX119923036" lang="EN-US" paraeid="{18a8d4c5-69b8-4918-b930-d89898411bdb}{41}" paraid="17245290" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; word-wrap: break-word;" xml:lang="EN-US">
<span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB">The choice it seems was very much between the devil and the deep blue sea. Either s</span><span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB">ticking with an ever more power hungry EU central government with its </span><span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB">b</span><span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB">ureau</span><span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB">cracies</span><span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB">, costs, and its stated intent of </span><span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB">ever closer fiscal and political union and its limp growth </span><span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB">but with a generally stable and largely </span><span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB">predic</span><span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB">table future, o</span><span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB">r</span><span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB"> to set sail on the open seas and explore the future and the unknown with greater freedom and to be able to steer our own course.</span></div>
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<div class="Paragraph SCX119923036" lang="EN-US" paraeid="{1aef912a-a767-419e-9670-66536867e559}{237}" paraid="214282302" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; word-wrap: break-word;" xml:lang="EN-US">
<span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB">As a nation very much founded on our history of exploration and </span><span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB">sai</span><span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB">ling</span><span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB"> into the unknown on voyages of discovery, despite very real risks and dangers, it seems </span><span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB">somehow</span><span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB"> fitting that the country has chosen this path, and I hope as time passes we will all be able to look back and say it </span><span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB">w</span><span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB">as</span><span class="TextRun SCX119923036" lang="EN-GB" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;" xml:lang="EN-GB"> the right thing to do.</span><span class="EOP SCX119923036" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px;"> </span></div>
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betterFXhttp://www.blogger.com/profile/09032267810248788525noreply@blogger.com0tag:blogger.com,1999:blog-4242453405110136151.post-54780306133528112732016-06-04T02:23:00.000-07:002016-06-04T02:23:17.255-07:00betterFX wins award from Consultancy Elite 2016!<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiLo_BNYFuEntJXQWRy5sAuLt02b4lWg4PFZeZxP2UhC6KryOOXEG4SU4sW7yTgjEJNVQS6AJanAhXvFteR9EXAAejn2A9Yf90e1WwLrTt2IDbqdGXzBfTYQUjOMORB5LsXYMOxxtHqeUgW/s1600/betterFX+social.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiLo_BNYFuEntJXQWRy5sAuLt02b4lWg4PFZeZxP2UhC6KryOOXEG4SU4sW7yTgjEJNVQS6AJanAhXvFteR9EXAAejn2A9Yf90e1WwLrTt2IDbqdGXzBfTYQUjOMORB5LsXYMOxxtHqeUgW/s200/betterFX+social.jpg" width="200" /></span></a></div>
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<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><b><span style="color: #666666;"> </span><span style="color: #0b5394;">betterFX</span></b> is delighted to have been selected as a winner in the 2016 Wealth and Finance International Consultancy Elite Awards!</span></div>
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<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">The unique approach of <b><span style="color: #0b5394;">betterFX</span></b> of only getting income from saving clients money on their foreign exchange transactions, clearly impressed the judges!</span></div>
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<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><b><span style="color: #0b5394;">betterFX</span></b> will be at PayExpo 2016 in London's ExCel exhibition centre and we are looking forward to meeting lots of fellow industry professionals, potential clients and partners from the cutting edge of payments and foreign exchange. We hope to see you there!</span></div>
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betterFXhttp://www.blogger.com/profile/09032267810248788525noreply@blogger.com0tag:blogger.com,1999:blog-4242453405110136151.post-15796226769708676532016-02-10T04:13:00.001-08:002016-02-10T04:18:31.289-08:00How the FOREX market makes excessive profits from the corporate sector preferring the Satus Quo<div style="background: rgb(255, 255, 255); border: 0px; box-sizing: border-box; font-stretch: inherit; margin: 0px 0px 8px; outline: 0px; padding: 0px; vertical-align: baseline;">
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<span style="color: rgba(0 , 0 , 0 , 0.850980392156863); font-family: "source sans pro" , "helvetica" , "arial" , sans-serif;"><span style="line-height: 51.2px;">How the FOREX market makes excessive profits from the corporate sector</span></span></div>
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<span style="color: rgba(0 , 0 , 0 , 0.701961); font-family: "source sans pro" , "helvetica" , "arial" , sans-serif; line-height: 20px;">Companies all over the world are paying through </span></div>
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<span style="color: rgba(0 , 0 , 0 , 0.701961); font-family: "source sans pro" , "helvetica" , "arial" , sans-serif; line-height: 20px;">the nose for FX...smaller firms especially but large firms too.</span></div>
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When I talk to clients about making major savings on their FX flows, I am constantly amazed at how the majority will always prefer to just stay doing things the way they always have done. </div>
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I am stunned that CEOs, CFOs, Finance Directors and other senior managers are not interested in reducing their costs associated with processing FX transactions....even when the savings run into the hundreds and thousands of pounds/dollars etc.</div>
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It is precisely this resistance to change, that allows the FOREX market, banks and non-banks alike, to continue to exploit the corporate sector.</div>
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I set up my business (<a class="js-link post-link" href="http://www.linkedin.com/redir/redirect?url=www%2Ebetterfx%2Eco%2Euk&urlhash=DSR_&_t=tracking_anet" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border-image-outset: initial; border-image-repeat: initial; border-image-slice: initial; border-image-source: initial; border-image-width: initial; border: 0px; box-sizing: border-box; color: #008cc9; cursor: pointer; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; outline: none; padding: 0px; text-decoration: none; vertical-align: baseline;">www.betterfx.co.uk</a>) to offer help to clients in a way that no one else is doing. </div>
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betterFX only makes money by saving companies money. It works like this; betterFX saves a company £50,000, and charges just 10%, meaning the client retains 90% of the savings found. </div>
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That is equivalent to getting £10 back for every £1 spent. </div>
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<b>If a 1000% return on an investment is not attractive, then I don't know what is !</b></div>
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betterFXhttp://www.blogger.com/profile/09032267810248788525noreply@blogger.com0tag:blogger.com,1999:blog-4242453405110136151.post-1970595970987318112016-01-27T02:38:00.000-08:002016-01-27T02:38:35.515-08:00Business and Finance Magazine just ran this article in their blog<br />
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<a href="http://businessandfinance.com/blog/guest-blog-the-fx-revolution/">http://businessandfinance.com/blog/guest-blog-the-fx-revolution/</a><br />
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Thank you Business and Finance Magazine!betterFXhttp://www.blogger.com/profile/09032267810248788525noreply@blogger.com0tag:blogger.com,1999:blog-4242453405110136151.post-45208363003816717412015-12-06T11:30:00.000-08:002015-12-06T22:12:37.407-08:00Fintech Money Transfer Firms are not quite what they first appear to be<div class="OutlineElement Ltr SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
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<div class="Paragraph SCX260276350" paraeid="{fa52d45b-1b51-45f9-b08f-fb5d4a717660}{152}" paraid="649825515" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">The world of money transfer companies and</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> foreign currency payment firms is getting ever more crowded as </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">variou</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">s exciting sounding firms join the throng with yet more promises to revolutionise the market, disrupt the banks</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">, change the world </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><span class="SpellingError SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: inherit; background-image: url("data:image/gif; background-position: 0% 100%; background-repeat: repeat-x; border-bottom-color: transparent; border-bottom-style: solid; border-bottom-width: 1px; margin: 0px; padding: 0px;">etc</span></span><span class="EOP SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> .</span></div>
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<div class="Paragraph SCX260276350" paraeid="{fa52d45b-1b51-45f9-b08f-fb5d4a717660}{159}" paraid="686430875" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">The fact is none of them (unless there is a firm deliberately keeping it secret) has managed to deliver a complete solution. The first firm that does this, has ridiculously huge</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> potential to genuinely</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> disrupt the market and make eye watering amounts of money in the process.</span><span class="EOP SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> </span></div>
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<div class="OutlineElement Ltr SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX260276350" paraeid="{fa52d45b-1b51-45f9-b08f-fb5d4a717660}{172}" paraid="132190213" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">I work as an </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">intermediary between both sides of the market, matching companies and </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">indivi</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">duals</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> with the non-bank or bank provider that best meets their needs.</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> So my work</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> would be very easy (and totally </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">pointless</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">!) if such a firm existed</span><span class="EOP SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> </span></div>
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<div class="OutlineElement Ltr SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX260276350" paraeid="{fa52d45b-1b51-45f9-b08f-fb5d4a717660}{174}" paraid="1971120652" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
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<div class="OutlineElement Ltr SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX260276350" paraeid="{fa52d45b-1b51-45f9-b08f-fb5d4a717660}{178}" paraid="1074288849" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">Here is just a sample of the gaps I come across on a daily basis working with the leading FX</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> payment firms (money transfer companies and banks alike)</span><span class="EOP SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> </span></div>
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<div class="OutlineElement Ltr SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX260276350" paraeid="{fa52d45b-1b51-45f9-b08f-fb5d4a717660}{180}" paraid="2051188574" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
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<div class="OutlineElement Ltr SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX260276350" paraeid="{fa52d45b-1b51-45f9-b08f-fb5d4a717660}{183}" paraid="159786218" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">Can't do that currency</span><span class="EOP SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> </span></div>
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<div class="OutlineElement Ltr SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX260276350" paraeid="{fa52d45b-1b51-45f9-b08f-fb5d4a717660}{186}" paraid="125410633" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">Can do outbound payments but not inbound</span><span class="EOP SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> </span></div>
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<div class="OutlineElement Ltr SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX260276350" paraeid="{fa52d45b-1b51-45f9-b08f-fb5d4a717660}{189}" paraid="1967449791" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">Can't do same currency payments</span><span class="EOP SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> </span></div>
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<div class="OutlineElement Ltr SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX260276350" paraeid="{fa52d45b-1b51-45f9-b08f-fb5d4a717660}{192}" paraid="404201567" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">Poor rates on some or all currencies</span><span class="EOP SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> </span></div>
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<div class="OutlineElement Ltr SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX260276350" paraeid="{fa52d45b-1b51-45f9-b08f-fb5d4a717660}{195}" paraid="890996251" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">High payment fees</span><span class="EOP SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> </span></div>
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<div class="OutlineElement Ltr SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX260276350" paraeid="{fa52d45b-1b51-45f9-b08f-fb5d4a717660}{198}" paraid="829196181" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">Won't do small deals</span><span class="EOP SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> </span></div>
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<div class="OutlineElement Ltr SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX260276350" paraeid="{fa52d45b-1b51-45f9-b08f-fb5d4a717660}{202}" paraid="1130198302" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">Won't</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> do large deals</span><span class="EOP SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> </span></div>
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<div class="OutlineElement Ltr SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX260276350" paraeid="{fa52d45b-1b51-45f9-b08f-fb5d4a717660}{205}" paraid="1298636493" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">Can't give credit</span><span class="EOP SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> </span></div>
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<div class="OutlineElement Ltr SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX260276350" paraeid="{fa52d45b-1b51-45f9-b08f-fb5d4a717660}{208}" paraid="524974357" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">Need to ask for collateral</span><span class="EOP SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> </span></div>
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<div class="OutlineElement Ltr SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX260276350" paraeid="{fa52d45b-1b51-45f9-b08f-fb5d4a717660}{214}" paraid="1256087867" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">Will </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">serve</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> corporate clients but not </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">individuals</span><span class="EOP SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> </span></div>
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<div class="OutlineElement Ltr SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX260276350" paraeid="{fa52d45b-1b51-45f9-b08f-fb5d4a717660}{221}" paraid="764664792" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">Can do high value payments (</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><span class="SpellingError SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: inherit; background-image: url("data:image/gif; background-position: 0% 100%; background-repeat: repeat-x; border-bottom-color: transparent; border-bottom-style: solid; border-bottom-width: 1px; margin: 0px; padding: 0px;">eg</span></span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> SWIFT) but not low value (</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><span class="SpellingError SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: inherit; background-image: url("data:image/gif; background-position: 0% 100%; background-repeat: repeat-x; border-bottom-color: transparent; border-bottom-style: solid; border-bottom-width: 1px; margin: 0px; padding: 0px;">eg</span></span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> ACH)</span><span class="EOP SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> </span></div>
</div>
<div class="OutlineElement Ltr SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX260276350" paraeid="{fa52d45b-1b51-45f9-b08f-fb5d4a717660}{224}" paraid="2047461061" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">Don't want small clients</span><span class="EOP SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> </span></div>
</div>
<div class="OutlineElement Ltr SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX260276350" paraeid="{fa52d45b-1b51-45f9-b08f-fb5d4a717660}{227}" paraid="1192719891" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">Don't want large client</span><span class="EOP SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> </span></div>
</div>
<div class="OutlineElement Ltr SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX260276350" paraeid="{fa52d45b-1b51-45f9-b08f-fb5d4a717660}{230}" paraid="152022974" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">Can't set the client up quickly enough</span><span class="EOP SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> </span></div>
</div>
<div class="OutlineElement Ltr SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX260276350" paraeid="{fa52d45b-1b51-45f9-b08f-fb5d4a717660}{234}" paraid="1625477756" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">And that really is just a sample, the full list is MUCH </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">longer</span><span class="EOP SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> </span></div>
</div>
<div class="OutlineElement Ltr SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX260276350" paraeid="{fa52d45b-1b51-45f9-b08f-fb5d4a717660}{236}" paraid="1962588614" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<br /></div>
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<div class="OutlineElement Ltr SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX260276350" paraeid="{fa52d45b-1b51-45f9-b08f-fb5d4a717660}{246}" paraid="606570765" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">Having been closely involved with the design build and delivery of FX/payments systems for two very large banks and one non-bank</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">, I know how hard it is </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">t</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">o cover all the </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">possible</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> scenarios that a client may look for....but I also know </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">that </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">it can be done.</span><span class="EOP SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> </span></div>
<div class="Paragraph SCX260276350" paraeid="{fa52d45b-1b51-45f9-b08f-fb5d4a717660}{246}" paraid="606570765" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="EOP SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"><br /></span></div>
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<div class="OutlineElement Ltr SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX260276350" paraeid="{03016888-9aad-4988-91dd-8da2a844336e}{41}" paraid="179479186" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">So</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">will the likes of</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><span class="SpellingError SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: inherit; background-image: url("data:image/gif; background-position: 0% 100%; background-repeat: repeat-x; border-bottom-color: transparent; border-bottom-style: solid; border-bottom-width: 1px; margin: 0px; padding: 0px;">TransferWise</span></span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">,</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><span class="SpellingError SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: inherit; background-image: url("data:image/gif; background-position: 0% 100%; background-repeat: repeat-x; border-bottom-color: transparent; border-bottom-style: solid; border-bottom-width: 1px; margin: 0px; padding: 0px;">MoneyM</span></span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><span class="SpellingError SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: inherit; background-image: url("data:image/gif; background-position: 0% 100%; background-repeat: repeat-x; border-bottom-color: transparent; border-bottom-style: solid; border-bottom-width: 1px; margin: 0px; padding: 0px;">over</span></span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">,</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><span class="SpellingError SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: inherit; background-image: url("data:image/gif; background-position: 0% 100%; background-repeat: repeat-x; border-bottom-color: transparent; border-bottom-style: solid; border-bottom-width: 1px; margin: 0px; padding: 0px;">Azimo</span></span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">,</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> Revolut, VFX, </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><span class="SpellingError SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: inherit; background-image: url("data:image/gif; background-position: 0% 100%; background-repeat: repeat-x; border-bottom-color: transparent; border-bottom-style: solid; border-bottom-width: 1px; margin: 0px; padding: 0px;">Worldfirst</span></span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">,</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">Currencies</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">Direct,</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">Mo</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">neyGram, </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">Cambrid</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">ge</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> FX</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">, </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><span class="SpellingError SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: inherit; background-image: url("data:image/gif; background-position: 0% 100%; background-repeat: repeat-x; border-bottom-color: transparent; border-bottom-style: solid; border-bottom-width: 1px; margin: 0px; padding: 0px;">HiFX</span></span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">, </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><span class="SpellingError SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: inherit; background-image: url("data:image/gif; background-position: 0% 100%; background-repeat: repeat-x; border-bottom-color: transparent; border-bottom-style: solid; border-bottom-width: 1px; margin: 0px; padding: 0px;">MoneyCorp</span></span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">,</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> Travelex, Western Union, </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><span class="SpellingError SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: inherit; background-image: url("data:image/gif; background-position: 0% 100%; background-repeat: repeat-x; border-bottom-color: transparent; border-bottom-style: solid; border-bottom-width: 1px; margin: 0px; padding: 0px;">BaydonHill</span></span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">, </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><span class="SpellingError SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: inherit; background-image: url("data:image/gif; background-position: 0% 100%; background-repeat: repeat-x; border-bottom-color: transparent; border-bottom-style: solid; border-bottom-width: 1px; margin: 0px; padding: 0px;">HaloFinancial</span></span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">, Ria, </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><span class="SpellingError SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: inherit; background-image: url("data:image/gif; background-position: 0% 100%; background-repeat: repeat-x; border-bottom-color: transparent; border-bottom-style: solid; border-bottom-width: 1px; margin: 0px; padding: 0px;">UKForex</span></span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">,</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><span class="SpellingError SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: inherit; background-image: url("data:image/gif; background-position: 0% 100%; background-repeat: repeat-x; border-bottom-color: transparent; border-bottom-style: solid; border-bottom-width: 1px; margin: 0px; padding: 0px;">etc</span></span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">,</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><span class="SpellingError SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: inherit; background-image: url("data:image/gif; background-position: 0% 100%; background-repeat: repeat-x; border-bottom-color: transparent; border-bottom-style: solid; border-bottom-width: 1px; margin: 0px; padding: 0px;">etc</span></span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">,</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><span class="SpellingError SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: inherit; background-image: url("data:image/gif; background-position: 0% 100%; background-repeat: repeat-x; border-bottom-color: transparent; border-bottom-style: solid; border-bottom-width: 1px; margin: 0px; padding: 0px;">etc</span></span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">, ever get there?</span></div>
<div class="Paragraph SCX260276350" paraeid="{03016888-9aad-4988-91dd-8da2a844336e}{41}" paraid="179479186" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><br /></span></div>
</div>
<div class="OutlineElement Ltr SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX260276350" paraeid="{03016888-9aad-4988-91dd-8da2a844336e}{44}" paraid="914147346" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">I doubt it and this is why. </span><span class="EOP SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> </span></div>
<div class="Paragraph SCX260276350" paraeid="{03016888-9aad-4988-91dd-8da2a844336e}{44}" paraid="914147346" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="EOP SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"><br /></span></div>
</div>
<div class="OutlineElement Ltr SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX260276350" paraeid="{03016888-9aad-4988-91dd-8da2a844336e}{49}" paraid="633035286" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">It is far too easy to make a decent amount of money just by offering </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">the easy stuff, and to skip past anything a bit more difficult.</span><span class="EOP SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> </span></div>
<div class="Paragraph SCX260276350" paraeid="{03016888-9aad-4988-91dd-8da2a844336e}{49}" paraid="633035286" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="EOP SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"><br /></span></div>
</div>
<div class="OutlineElement Ltr SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX260276350" paraeid="{03016888-9aad-4988-91dd-8da2a844336e}{56}" paraid="706770814" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">In addition, th</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">e </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">crumbs falling from the table of the big banks are enough to feed them all well enough and in any case the cake gets bigger every year as more and more people and businesses do more and more international </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">transactions</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> and trade. </span><span class="EOP SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> </span></div>
</div>
<div class="OutlineElement Ltr SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX260276350" paraeid="{03016888-9aad-4988-91dd-8da2a844336e}{58}" paraid="1983569678" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<br /></div>
</div>
<div class="OutlineElement Ltr SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX260276350" paraeid="{03016888-9aad-4988-91dd-8da2a844336e}{61}" paraid="732809324" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><b>So that's the first point covered</b></span></div>
<div class="Paragraph SCX260276350" paraeid="{03016888-9aad-4988-91dd-8da2a844336e}{61}" paraid="732809324" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<br /></div>
</div>
<div class="OutlineElement Ltr SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX260276350" paraeid="{03016888-9aad-4988-91dd-8da2a844336e}{65}" paraid="1624604682" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">The second point can be covered more quickly;</span></div>
<div class="Paragraph SCX260276350" paraeid="{03016888-9aad-4988-91dd-8da2a844336e}{65}" paraid="1624604682" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><br /></span></div>
<div class="Paragraph SCX260276350" paraeid="{03016888-9aad-4988-91dd-8da2a844336e}{65}" paraid="1624604682" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">Why the banks don’t really have anything to fear.</span><span class="EOP SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> </span></div>
</div>
<div class="OutlineElement Ltr SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX260276350" paraeid="{03016888-9aad-4988-91dd-8da2a844336e}{76}" paraid="1649756907" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><br /></span></div>
<div class="Paragraph SCX260276350" paraeid="{03016888-9aad-4988-91dd-8da2a844336e}{76}" paraid="1649756907" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">Despite the</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> claims that many of these self styled </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><span class="SpellingError SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: inherit; background-image: url("data:image/gif; background-position: 0% 100%; background-repeat: repeat-x; border-bottom-color: transparent; border-bottom-style: solid; border-bottom-width: 1px; margin: 0px; padding: 0px;">FinTech</span></span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> firms</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> are developing FX and payment systems that don't need banks - it just isn't true. Let's look a very quick look at Revolut, one of the more ground-breaking firms in my opinion; Client funds are held with Barclays, the currency card is issued by Mastercard, you have to fund the card from a bank or debit card, many payments will go by SWIFT, you withdraw the cash from ATM machines...see what I mean?</span></div>
<div class="Paragraph SCX260276350" paraeid="{03016888-9aad-4988-91dd-8da2a844336e}{76}" paraid="1649756907" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><br /></span></div>
<div class="Paragraph SCX260276350" paraeid="{03016888-9aad-4988-91dd-8da2a844336e}{76}" paraid="1649756907" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">Show me a single one of them that could function</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> without any bank accounts, without </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">using</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> the payment systems and other infr</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">astructure that the banks own, </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">without the finance and credit their banks given them and I will show you a Pig flying at 30,000 feet.</span><span class="EOP SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> </span></div>
<div class="Paragraph SCX260276350" paraeid="{03016888-9aad-4988-91dd-8da2a844336e}{76}" paraid="1649756907" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="EOP SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"><br /></span></div>
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<div class="OutlineElement Ltr SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX260276350" paraeid="{03016888-9aad-4988-91dd-8da2a844336e}{82}" paraid="113541252" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">If the </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">banks do get properly annoyed with them, they will just withdraw their facilities - and that will be that. </span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">They will not be able to function at all.</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> </span><span class="EOP SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> </span><br />
<span class="EOP SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"><br /></span></div>
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<div class="OutlineElement Ltr SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX260276350" paraeid="{03016888-9aad-4988-91dd-8da2a844336e}{86}" paraid="723443334" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">(oh, and by the way, some have done that already)</span><span class="TextRun SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> </span><span class="EOP SCX260276350" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> </span></div>
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betterFXhttp://www.blogger.com/profile/09032267810248788525noreply@blogger.com0tag:blogger.com,1999:blog-4242453405110136151.post-1015935963016729772015-11-27T03:14:00.000-08:002015-11-27T03:14:57.124-08:00Literally can't give it away!<div class="OutlineElement Ltr SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX173993844" paraeid="{e232c75e-4a02-4aaf-8d15-2fb7b86b86e3}{153}" paraid="379849244" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 6pt; height: auto; padding: 0px; vertical-align: baseline; white-space: pre; width: auto; word-wrap: break-word;">
<span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><br /></span></div>
<div class="Paragraph SCX173993844" paraeid="{e232c75e-4a02-4aaf-8d15-2fb7b86b86e3}{153}" paraid="379849244" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 6pt; height: auto; padding: 0px; vertical-align: baseline; white-space: pre; width: auto; word-wrap: break-word;">
<span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><br /></span></div>
<div class="Paragraph SCX173993844" paraeid="{e232c75e-4a02-4aaf-8d15-2fb7b86b86e3}{153}" paraid="379849244" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 6pt; height: auto; padding: 0px; vertical-align: baseline; white-space: pre; width: auto; word-wrap: break-word;">
<span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><b>Giving money away is harder than you think. </b></span></div>
<div class="Paragraph SCX173993844" paraeid="{e232c75e-4a02-4aaf-8d15-2fb7b86b86e3}{153}" paraid="379849244" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 6pt; height: auto; padding: 0px; vertical-align: baseline; white-space: pre; width: auto; word-wrap: break-word;">
<span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><br /></span></div>
<div class="Paragraph SCX173993844" paraeid="{e232c75e-4a02-4aaf-8d15-2fb7b86b86e3}{153}" paraid="379849244" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 6pt; height: auto; padding: 0px; vertical-align: baseline; white-space: pre; width: auto; word-wrap: break-word;">
<span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">I recently wrote to around 50 Finance Directors, mostly in what are quite large firms, offering them some free money. I was very open about why I was doing it, so that any suspicion about it being a trick of some kind could be set aside. (a transcript of my email to them is below)</span></div>
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<span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><br /></span></div>
<div class="Paragraph SCX173993844" paraeid="{e232c75e-4a02-4aaf-8d15-2fb7b86b86e3}{153}" paraid="379849244" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 6pt; height: auto; padding: 0px; vertical-align: baseline; white-space: pre; width: auto; word-wrap: break-word;">
<span style="background-color: transparent; color: windowtext; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; white-space: normal;">These individuals have enormous responsibility to manage the finances of some pretty big firms, so more than anyone should be smart with money. Yet not one of them took me up on my offer.</span></div>
<div class="Paragraph SCX173993844" paraeid="{e232c75e-4a02-4aaf-8d15-2fb7b86b86e3}{153}" paraid="379849244" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 6pt; height: auto; padding: 0px; vertical-align: baseline; white-space: pre; width: auto; word-wrap: break-word;">
<span style="background-color: transparent; color: windowtext; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; white-space: normal;"><br /></span></div>
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<span style="font-family: Calibri, sans-serif;"><span style="font-size: 14.6667px; line-height: 19px;">Now I am sure, if I popped down to my local shopping centre and tried the same thing, all my envelopes of money would be gone in minutes.</span></span></div>
<div class="Paragraph SCX173993844" paraeid="{e232c75e-4a02-4aaf-8d15-2fb7b86b86e3}{153}" paraid="379849244" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; height: auto; padding: 0px; vertical-align: baseline; width: auto; word-wrap: break-word;">
<span style="font-family: Calibri, sans-serif;"><span style="font-size: 14.6667px; line-height: 19px;"><br /></span></span></div>
<div class="Paragraph SCX173993844" paraeid="{e232c75e-4a02-4aaf-8d15-2fb7b86b86e3}{153}" paraid="379849244" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; height: auto; padding: 0px; vertical-align: baseline; width: auto; word-wrap: break-word;">
<span style="font-family: Calibri, sans-serif;"><span style="font-size: 14.6667px; line-height: 19px;">So, why did my experiment get this result ? (which, by the way, did not actually surprise me at all)</span></span></div>
<div class="Paragraph SCX173993844" paraeid="{e232c75e-4a02-4aaf-8d15-2fb7b86b86e3}{153}" paraid="379849244" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 6pt; height: auto; padding: 0px; vertical-align: baseline; white-space: pre; width: auto; word-wrap: break-word;">
<span style="background-color: transparent; color: windowtext; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; white-space: normal;"><br /></span></div>
<div class="Paragraph SCX173993844" paraeid="{e232c75e-4a02-4aaf-8d15-2fb7b86b86e3}{153}" paraid="379849244" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 6pt; height: auto; padding: 0px; vertical-align: baseline; white-space: pre; width: auto; word-wrap: break-word;">
<span style="background-color: transparent; color: windowtext; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; white-space: normal;">You see, in my many years of working with Finance Professionals what I experienced is that almost all of them believe they know everything they need to know about finance matters already. This leads to a very close minded approach and a suspicion of anyone who suggests there may be a better way of doing things for their firm. Now of course if you believe someone is trying to sell you something on the back of such suggestions, that is going to make you wary. </span></div>
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<span style="background-color: transparent; color: windowtext; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; white-space: normal;"><br /></span></div>
<div class="Paragraph SCX173993844" paraeid="{e232c75e-4a02-4aaf-8d15-2fb7b86b86e3}{153}" paraid="379849244" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 6pt; height: auto; padding: 0px; vertical-align: baseline; white-space: pre; width: auto; word-wrap: break-word;">
<span style="background-color: transparent; color: windowtext; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; white-space: normal;">I wasn't trying to sell anything at all and was very clear about that.</span></div>
<div class="Paragraph SCX173993844" paraeid="{e232c75e-4a02-4aaf-8d15-2fb7b86b86e3}{153}" paraid="379849244" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 6pt; height: auto; padding: 0px; vertical-align: baseline; white-space: pre; width: auto; word-wrap: break-word;">
<span style="background-color: transparent; color: windowtext; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; white-space: normal;"><br /></span></div>
<div class="Paragraph SCX173993844" paraeid="{e232c75e-4a02-4aaf-8d15-2fb7b86b86e3}{153}" paraid="379849244" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 6pt; height: auto; padding: 0px; vertical-align: baseline; white-space: pre; width: auto; word-wrap: break-word;">
<span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">This should be worrying for CEO's and shareholders of companies everywhere. Finance Heads should be tuning in to any opportunity to improve their firms profitability. I know that if I had an FD refusing an envelope of free money, I would be giving them a very different envelope. </span></div>
<div class="Paragraph SCX173993844" paraeid="{e232c75e-4a02-4aaf-8d15-2fb7b86b86e3}{153}" paraid="379849244" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 6pt; height: auto; padding: 0px; vertical-align: baseline; white-space: pre; width: auto; word-wrap: break-word;">
<span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><br /></span></div>
<div class="Paragraph SCX173993844" paraeid="{e232c75e-4a02-4aaf-8d15-2fb7b86b86e3}{153}" paraid="379849244" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 6pt; height: auto; padding: 0px; vertical-align: baseline; white-space: pre; width: auto; word-wrap: break-word;">
<span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">An envelope with their marching orders inside</span></div>
<div class="Paragraph SCX173993844" paraeid="{e232c75e-4a02-4aaf-8d15-2fb7b86b86e3}{153}" paraid="379849244" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 6pt; height: auto; padding: 0px; vertical-align: baseline; white-space: pre; width: auto; word-wrap: break-word;">
<span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><br /></span></div>
<div class="Paragraph SCX173993844" paraeid="{e232c75e-4a02-4aaf-8d15-2fb7b86b86e3}{153}" paraid="379849244" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 6pt; height: auto; padding: 0px; vertical-align: baseline; white-space: pre; width: auto; word-wrap: break-word;">
<br /></div>
<div class="Paragraph SCX173993844" paraeid="{e232c75e-4a02-4aaf-8d15-2fb7b86b86e3}{153}" paraid="379849244" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; color: windowtext; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 6pt; height: auto; padding: 0px; vertical-align: baseline; white-space: pre; width: auto; word-wrap: break-word;">
<span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><br /></span></div>
<div class="Paragraph SCX173993844" paraeid="{e232c75e-4a02-4aaf-8d15-2fb7b86b86e3}{153}" paraid="379849244" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 6pt; height: auto; padding: 0px; vertical-align: baseline; white-space: pre; width: auto; word-wrap: break-word;">
<span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><span style="color: blue;">Dear XXXXXXXXXXX</span></span></div>
<div class="Paragraph SCX173993844" paraeid="{e232c75e-4a02-4aaf-8d15-2fb7b86b86e3}{153}" paraid="379849244" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 6pt; height: auto; padding: 0px; vertical-align: baseline; white-space: pre; width: auto; word-wrap: break-word;">
<span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><span style="color: blue;"><br /></span></span></div>
<div class="Paragraph SCX173993844" paraeid="{e232c75e-4a02-4aaf-8d15-2fb7b86b86e3}{153}" paraid="379849244" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 6pt; height: auto; padding: 0px; vertical-align: baseline; white-space: pre; width: auto; word-wrap: break-word;">
<span style="color: blue;"><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">Would you be interested in having some </span><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><b>Free Money</b>?</span><span class="EOP SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> </span></span></div>
</div>
<div class="OutlineElement Ltr SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX173993844" paraeid="{e232c75e-4a02-4aaf-8d15-2fb7b86b86e3}{161}" paraid="1087176524" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><span style="color: blue;"><br /></span></span></div>
<div class="Paragraph SCX173993844" paraeid="{e232c75e-4a02-4aaf-8d15-2fb7b86b86e3}{161}" paraid="1087176524" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span style="color: blue;"><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">That's right, would you like an</span><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> </span><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">en</span><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">velope</span><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> with some bank notes in?</span><span class="EOP SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> </span></span></div>
</div>
<div class="OutlineElement Ltr SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX173993844" paraeid="{e232c75e-4a02-4aaf-8d15-2fb7b86b86e3}{165}" paraid="678898849" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><span style="color: blue;"><br /></span></span></div>
<div class="Paragraph SCX173993844" paraeid="{e232c75e-4a02-4aaf-8d15-2fb7b86b86e3}{165}" paraid="678898849" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span style="color: blue;"><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">Why am I doing this? There are three </span><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">reasons</span><span class="EOP SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> </span></span></div>
</div>
<div class="OutlineElement Ltr SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX173993844" paraeid="{e232c75e-4a02-4aaf-8d15-2fb7b86b86e3}{167}" paraid="401057748" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<br /></div>
</div>
<ol class="NumberListStyle1 SCX173993844" start="1" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; cursor: text; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px;">
<li class="OutlineElement Ltr SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; clear: both; cursor: text; direction: ltr; font-family: Calibri, sans-serif; font-size: 11pt; margin: 0px 0px 0px 48px; overflow: visible; padding: 0px; position: relative; vertical-align: baseline;"><div class="Paragraph SCX173993844" paraeid="{e232c75e-4a02-4aaf-8d15-2fb7b86b86e3}{177}" paraid="478167554" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span style="color: blue;"><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">Having travelled all over the world for the last 20 years, I have always been one of tho</span><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">se people that </span><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">hangs</span><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> on to my unspent </span><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">foreign notes to use on my next visit there</span><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">. For the moment </span><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">though I have stopped globe trotting so I thought I would give it all away.</span><span class="EOP SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> </span></span></div>
</li>
</ol>
<div class="OutlineElement Ltr SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX173993844" paraeid="{e232c75e-4a02-4aaf-8d15-2fb7b86b86e3}{179}" paraid="440805682" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<br /></div>
</div>
<ol class="NumberListStyle1 SCX173993844" start="2" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; cursor: text; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px;">
<li class="OutlineElement Ltr SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; clear: both; cursor: text; direction: ltr; font-family: Calibri, sans-serif; font-size: 11pt; margin: 0px 0px 0px 48px; overflow: visible; padding: 0px; position: relative; vertical-align: baseline;"><div class="Paragraph SCX173993844" paraeid="{e232c75e-4a02-4aaf-8d15-2fb7b86b86e3}{187}" paraid="2075647499" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span style="color: blue;"><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">I want to conduct an experiment. You see, everyone these days is so weary of the endless tricks used by companies selling their wares, that I expect very few people to say 'Yes please, I'll have some free money'. No one </span><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">believes</span><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> </span><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">that</span><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> anything is ever really free.</span><span class="EOP SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> </span></span></div>
</li>
</ol>
<div class="OutlineElement Ltr SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; clear: both; cursor: text; direction: ltr; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px; position: relative;">
<div class="Paragraph SCX173993844" paraeid="{e232c75e-4a02-4aaf-8d15-2fb7b86b86e3}{189}" paraid="1015497782" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<br /></div>
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<ol class="NumberListStyle1 SCX173993844" start="3" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: white; cursor: text; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 8px; margin: 0px; overflow: visible; padding: 0px;">
<li class="OutlineElement Ltr SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; clear: both; cursor: text; direction: ltr; font-family: Calibri, sans-serif; font-size: 11pt; margin: 0px 0px 0px 48px; overflow: visible; padding: 0px; position: relative; vertical-align: baseline;"><div class="Paragraph SCX173993844" paraeid="{e232c75e-4a02-4aaf-8d15-2fb7b86b86e3}{193}" paraid="1700019291" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; font-family: 'Segoe UI', Tahoma, Verdana, sans-serif; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span style="color: blue;"><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">The last reason is to raise awareness. Most companies are wasting money in the way that they handle their foreign exchange. So I thought I would too, by just giving it away.</span><span class="EOP SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> </span></span></div>
</li>
</ol>
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<div class="Paragraph SCX173993844" paraeid="{e232c75e-4a02-4aaf-8d15-2fb7b86b86e3}{195}" paraid="1605990119" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
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<div class="Paragraph SCX173993844" paraeid="{e232c75e-4a02-4aaf-8d15-2fb7b86b86e3}{210}" paraid="656208591" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span style="color: blue;"><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">If you want to receive an envelope with </span><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">free </span><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">money inside</span><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">, all you have to do is</span><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> send me an </span><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">email</span><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> with your details, and agree to a have a 5-10 minute chat with me on </span><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">the</span><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> phone about how </span><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"><span class="SpellingError SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: inherit; background-image: url(data:image/gif; background-position: 0% 100%; background-repeat: repeat-x; border-bottom-color: transparent; border-bottom-style: solid; border-bottom-width: 1px; margin: 0px; padding: 0px;">betterFX</span></span><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> (my business - www.betterfx.co.uk) can save your firm much more than</span><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> the money you will get in</span><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> your envelope.</span><span class="EOP SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> </span></span></div>
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<span style="color: blue;"><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">I have divided up my bank note</span><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">s</span><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> into 10 </span><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">envelopes, which</span><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> are all sealed and identical, so I genuinely don’t know now what is in each one. </span><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> </span><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB"> </span><span class="EOP SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> </span></span></div>
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<div class="Paragraph SCX173993844" paraeid="{e232c75e-4a02-4aaf-8d15-2fb7b86b86e3}{224}" paraid="918794377" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; background-color: transparent; font-size: 6pt; padding: 0px; vertical-align: baseline; white-space: pre; word-wrap: break-word;">
<span style="color: blue;"><span class="TextRun SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;" xml:lang="EN-GB">First come first served. So, as they say in all those corny Black Friday promotions, when it's gone, it's gone! </span><span class="EOP SCX173993844" style="-webkit-tap-highlight-color: transparent; -webkit-user-drag: none; -webkit-user-select: text; font-family: Calibri, sans-serif; font-size: 11pt; line-height: 19px; margin: 0px; padding: 0px; white-space: normal;"> </span></span></div>
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betterFXhttp://www.blogger.com/profile/09032267810248788525noreply@blogger.com0tag:blogger.com,1999:blog-4242453405110136151.post-9588754749502763662015-11-25T11:25:00.000-08:002015-11-25T11:25:26.216-08:00Bromance, Showmance...what's nextSitting at my desk with the radio on, 'Bro-mance' and 'Show-mance' both got mentioned....<br />
<br />
Before it gets out of hand, I claim all of these as mine...<br />
<br />
Sno-mance - Ski holiday fling<br />
Slo-mance - Going out with someone for ages without it going anywhere (or relations with a sloth)<br />
Gro-mance - Couple who met at a fertilizer factory/allottment<br />
Woe-mace - Tragic relationship / one with 'Wossy' / with a horse that won't stop<br />
Blo-mance - All kinds of possibilities, polite and otherwise<br />
Sloe-mance - In love with posh berry infused gin<br />
Doe-mance - Lady deer loving<br />
Foe-mance - Got carried away with the idea of 'keep your friends close, but your enemies closer' <br />
Cro-mance - Passion with Russell..or a common bird<br />
Glo-mance - Love between radioactive folk<br />
Hoe-mance - 2nd allottment option / garden tools enthusiasts<br />
Bow-mance - Ardour between archers or string musicians<br />
No-mance - Put down to anyone who fails in attempting romance. Separation or divorce<br />
Low-mance - Affection between not so tall people or with anyone from the Netherlands<br />
<br />
running out of ideas now....<br />
<br />
XO - mance (Fine cognac infused love)<br />
OhNo!-mance - waking up beside someone you only just met the night before....and now regret<br />
<br />
That's enough for now....pls think of some more!<br />
<br />betterFXhttp://www.blogger.com/profile/09032267810248788525noreply@blogger.com0tag:blogger.com,1999:blog-4242453405110136151.post-83804931064154978242015-11-18T01:59:00.000-08:002015-11-18T01:59:25.132-08:00Finance Directors and Ostriches - why they both stick their heads in the sand<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhlOKj1vIp4wOczZss18B4Yjv2Ygum0tR7l0uI1dqWLxebqdS61mlJYBa5W8jPQcTx-3VQEIG1gxoGYxLRal0zXEumo_4AdAjYHxiSMx2WhBEB3qRJS3z5zNKoFetQ5i_NN_kvvYpnoZik3/s1600/ostrich.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em; text-align: center;"><span style="font-family: Arial, Helvetica, sans-serif;"><img border="0" height="161" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhlOKj1vIp4wOczZss18B4Yjv2Ygum0tR7l0uI1dqWLxebqdS61mlJYBa5W8jPQcTx-3VQEIG1gxoGYxLRal0zXEumo_4AdAjYHxiSMx2WhBEB3qRJS3z5zNKoFetQ5i_NN_kvvYpnoZik3/s200/ostrich.jpg" width="200" /></span></a><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><b><u>The FD and the Ostrich,</u></b> by <a href="http://www.betterfx.co.uk/">betterFX</a></span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;">One of the best known myths is the one about ostriches </span><br />
<span style="font-family: Arial, Helvetica, sans-serif;">sticking their heads in the sand when frightened; it is not </span><br />
<span style="font-family: Arial, Helvetica, sans-serif;">true - they run away very fast (at up to 40mph). The myth </span><br />
<span style="font-family: Arial, Helvetica, sans-serif;">comes perhaps from the need that ostriches have, to root</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;">around in the sand for small stones which they swallow to </span><br />
<span style="font-family: Arial, Helvetica, sans-serif;">help their digestion.</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;">Answering the question, "Why do FD's, CFO's and other finance managers (let's just use the collective term FD's for now) stick their big brained heads in the sand" where <a href="http://www.betterfx.co.uk/">Foreign Exchange</a> is concerned, takes a little longer.</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;">In my two decades in the FX business, one of the hardest things to do is to persuade FD's that they might even have a problem, even though 80-90% do, but just don't realise it.</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;">I have a number of theories about why this is, based on real experiences meeting with hundreds of FDs.</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;">1. <b>Too busy</b>. Finance departments are rarely staffed up to the level where management can examine every nook and cranny of the company's financial activities. Being reactive, fire fighting and meeting reporting deadlines all come first.</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;">2. <b>FD's are generalists</b>. By definition most FDs are generalists needing to have a very broad knowledge of a wide range of financial disciplines. This is particular true in small and medium size businesses (SME's) who would not have the luxury of specialist finance roles in tax, treasury, accounting, corporate finance etc.</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;">3. <b>Closed mindedness</b>. I'm not sure if that is an accepted term, but what I mean here is not being open minded. The more senior a finance manager is, the more they believe they are all knowing. This is probably reinforced by being the finance expert in their company, and to whom all colleagues and senior managers look to for financial wisdom. If someone comes along and essentially says they may be missing something, the shutters come down.</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;">4. <b>The prey taking advice from its predator</b>. Many FD's take their advice from their banks, or non-bank FX providers. The goal of these providers is to make as much money for THEIR shareholders, which means finding as much revenue from the FX flows of a company as possible; and that does not normally mean offering the lowest possible costs in terms of FX rates. In fact, in most cases it will mean the exact opposite.</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;">So what do you think happens when the FDs of companies are too busy to look into an area of cost, that they are not a a specialist in, but which they still believe they know enough about to be able ignore, and who put their trust in the firms that want to exploit them??</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;">Answer; Lots and lots of banks and other FX providers making lots and lots of money, whilst lots and lots of companies LOSE lots and lots of money, without realising it.</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;">The real question here is who is most at fault? Is it the finance manager community for allowing themselves to be exploited in this way, or is it the banks and non-bank FX providers who are at fault for exploiting them?</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;">Or is it neither? Is this just how the free market world works, where sellers extract the highest price a buyer is willing to pay, and exploiting buyer weakness is a fair game?</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;">One thing for sure is true, if you do stick your head in the sand, don't be surprised if you get bitten in the backside!!</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;">If you are a finance manager and want to tackle this problem in your company just visit <a href="http://www.betterfx.co.uk/">www.betterfx.co.uk</a>, and send in a contact form. <a href="http://www.betterfx.co.uk/">betterFX</a> is NOT an FX provider, but finds companies the best FX deals on the market, personally negotiated for you.</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;">Some of the biggest house hold names in the world have followed this advice and saved huge sums - your company could too.</span><br />
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<br />betterFXhttp://www.blogger.com/profile/09032267810248788525noreply@blogger.com0tag:blogger.com,1999:blog-4242453405110136151.post-2381841018699211322015-09-11T06:45:00.003-07:002015-09-11T07:32:08.580-07:00Paying through the nose<span style="font-family: Arial, Helvetica, sans-serif;">Most companies pay far too much for their foreign exchange transactions.</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;">Why?</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;">Here are a selection of reasons one, some or all of which normally apply</span><br />
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<ul>
<li><span style="font-family: Arial, Helvetica, sans-serif;">Not a deep enough understanding of the market generally</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;">Finance managers too busy with other stuff, fire fighting etc</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;">Lack of awareness of 'hidden' FX flows in their cash management area</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;">Only care about single large deals or hedging activty</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;">Unaware of what the whole market (thousands of banks and non-bank providers) can actually offer</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;">Never really analysed their FX activity top to bottom (especially true the larger the company is)</span></li>
</ul>
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<span style="font-family: Arial, Helvetica, sans-serif;">Amazingly, companies every day commit to huge FX deals without knowing the price (FX rate and margin taken) up front. </span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">Think about that for a second</span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">That's like you or I agreeing to buy a house, exchanging contracts and completing, BEFORE knowing the price!</span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">Despite these facts, most corporate treasurers are completely in the dark about how much money this is costing them.</span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">betterFX (www.betterfx.co.uk) is here to help - visit the website and find out more</span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>betterFXhttp://www.blogger.com/profile/09032267810248788525noreply@blogger.com0