![](https://assets.isu.pub/document-structure/230327070510-9372730251dcbef004b38fbfc8986959/v1/b114633c3dbd11bf7fd61e04eba21fb1.jpeg?width=720&quality=85%2C50)
3 minute read
Why London FinTechs lead the way in international payments and currency exchange
while the Asian markets are still trading and before it closes, the US markets commence. Given world time-zones, London literally is the centre of the FX world.
Regulation and trust
Advertisement
Another advantage London based FinTechs have is there exists a stable regulatory environment with financial services firms overseen by the Financial Conduct Authority (FCA). The FCA is respected worldwide as a regulator which often gives FX traders a certain degree of confidence when dealing with an FCA-regulated firm in London versus firms from less wellregarded jurisdictions.
Language
The most commonly spoken language in the world is English. When we add to this the fact that almost 90% of all currency trades worldwide involve the US dollar (including those in Europe and Asia), it really starts to become apparent why London has a competitive advantage.
Superior technology
With over 3,000 FinTech companies operating, London can also claim to be the FinTech capital of the world. To survive in such a competitive market requires constant innovation and product improvement, meaning that London FinTechs provide some of the most pioneering currency exchange and international payments technology in the world. Given this, companies from all over the world turn to London based providers for reliable, trustworthy and cost-effective solutions.
Why not use your bank for international payments and currency exchange?
Most UK companies still utilise a high street bank for many of their core banking requirements such as trading accounts and lending activities.
However, for some business requirements such as overseas bank-to-bank payments and
Founded in the UK, Volopa began “trading the cable” way back in 2011, being one of the UK pioneers in the global payments and FX space. Since then, we’ve created one of the easiest-to-use and cost-effective solutions available in the UK. Features such as allowing our clients to view and utilise real-time wholesale exchange rates, same day payments in a growing number of currencies and automated recipient email notifications has proved a game-changer for many UK businesses.
“The driver behind our new international payments journey was to remove the complexity associated with international payments. Our new payments journey reduces the number of clicks required to 3 for repeat payments. With the Recipient Email feature, our clients no longer need to show their supplier any proof of payment being sent as this is automatically taken care of, making things simpler.”
- Ali Albajati, Head of Product, Volopa
In 2023, talent acquisition and retention have become more critical than ever before. With the increasing competition for top talent and the changing expectations of employees, organisations must be proactive in their recruitment and retention strategies to attract and retain top talent.
What are the challenges in acquiring and retaining talent in 2023?
One of the most significant changes in talent acquisition and retention in 2023 is the adoption of hybrid and remote working models in response to the Covid-19 Pandemic. This means that organisations are now competing on a global level for top talent and many have had to change their ways of working, in order to attract and retain the best candidates.
The Pandemic has also resulted in increased stress and burnout among employees, with a recent study by the McKinsey Health Institute reporting that one in four employees surveyed admitted to experiencing burnout symptoms.
Therefore, in addition to remote work, the Pandemic has influenced employees to have different expectations and demands than they had previously. Many now regard having a good work-life balance and working for a company that values employee health and well-being as a high priority. This means that organisations are having to try and adapt and meet employee requests if they want to be in the running to attract and retain top talent.
How can organisations ensure they acquire and retain the best talent in the marketplace in 2023?
Acquiring and retaining talent in 2023 requires organisations to be aware of the changing needs and expectations of their team members and potential candidates. At SteelEye, we work hard to foster an environment and culture that our team thrive in and are proud of. A testament to our positive work environment was when SteelEye was recognised as having the Best Company Culture in Harrington Starr’s Top 1% Workplace Awards 2022.
At SteelEye, we believe the following enables us to attract and retain talent:
Positive work environment and culture
Creating a positive work environment that provides a sense of community for team members is hugely important at