200% growth in foreign currency processed by Loomis FX in the UK
Volumes of foreign currency processed by Loomis for UK customers grew by over 200% in 2014.
Additionally, the number of currencies processed by Loomis FX rose to 65 - double the number processed in 2013.
“2014 was a great year for Loomis FX and it exceeded every expectation we had for the service”, says Craig Sherriff who works within the FX team at Loomis UK.
“Loomis FX was developed to support our customers evolving foreign currency processing needs and it has grown with them over the past couple of years. The remarkable growth in 2014 is testimony to both the model we’ve created and our customers need for foreign currency processing from a trusted partner.”
“We’ve also attracted a diverse range of new customers – drawn to our competitive rates and service levels. Those range from airlines and their service providers to independent currency exchanges and hotels and retail stores that accept multiple currencies. The diversity of these customers and their requirements has helped us to develop our offering further and ensuing that we deliver a truly bespoke solution.”
With daily fixed rates for exchange and transparent collection and processing costs, Loomis vehicles collect foreign currency from customers alongside their normal Cash in Transit collections. The foreign currency is transported to the nearest FX hub where it is processed and the exchanged value is paid into customer’s bank accounts in GBP.
With volumes set to increase further in 2015, Loomis is already seeking additional FX processing sites across the country.