Full Year Results 

FairFX eyes digital banking expansion

FairFX eyes digital banking expansion

FairFX (FFX) detailed a “milestone year of development”, in addition to its first full-year of profitability since floating in 2014. The e-banking and payments specialist expanded its digital banking services with the help of two acquisitions. Q-Money, purchased in January 2017, brought the company an e-money licence, while CardOne, purchased in August via a £26m share placing, brought in £185m in gross deposits. Acquisitions aside, FairFX’s core segments also traded well: currency card turnover and international payments turnover climbed 17.9 per cent and 19.5 per cent, respectively, which meant that gross transaction volumes rose 41 per cent to over £1.1bn.

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