Brexit Uncertainty Spikes and Pound Plummets

Following the resignation of Brexit secretary Dominic Raab and Pensions Secretary Esther McVey, the British Pound has plummeted. There are expectations of further resignations in what is being called a “rebellion” against the Brexit deal struck by the E.U and U.K. In his resignation letter Raab said, I cannot support an indefinite backstop agreement, where the EU holds a veto over our ability to exit, the terms of the backstop amount to a hybrid of the EU Customs Union and Single Market obligations. No democratic nation has ever signed up…

Read More

Top 5 Scaling Tips

by Gary Conroy, Chief Product Officer I’ve been fortunate enough to have been involved in the largest Irish FinTech deals. TransferMate Global Payments secured a valuation of over €350m at the time of a €51m minority equity investment from ING and AIB in 2017/2018, and Realex Payments was sold to Global Payments for €115m in 2015. Both companies have similar characteristics – entrepreneurial driving forces in Terry Clune, Sinead Fitzmaurice and Colm Lyon; neither is VC backed, instead choosing to grow organically through paying customers; both have been profitable since inception. What…

Read More

The Why

A question we are asked repeatedly by kids is “why”? It can be exhausting, but they have the right idea – “Why” is the ultimate clarifying question. It demands explanation, context and support. It’s a simple question that, when asked by a 5-year-old, moves from cute to challenging to exasperating. In business this question is not asked as frequently as perhaps it should. When we don’t ask “why”, we give up the opportunity to learn critical information. We at TransferMate, would like to clarify “why” us? The answer is simple;…

Read More

Rising up in payments

Empowering women in FinTech Christine Lagarde, Director of the IMF, has said a number of times that if it had been Lehman Sisters rather than Lehman Brothers, the world might well look a lot different today, as the male-dominated financial services industry had indulged in high risk-taking. While the Lehman Sisters theory has been questioned by a few studies, lots of research suggests that more diverse leadership teams make better business decisions, leading to more profitable companies. This is something we have always believed at TransferMate, where five of our…

Read More

TransferMate Global Payments Partner With Accounts IQ

TransferMate Global Payments, the global B2B payments technology company partly owned by AIB and ING Group, has partnered with AccountsIQ to offer its customers a new way to access preferential FX rates for payments, saving them time and money with an automated solution within the AccountsIQ finance system. AccountsIQ’s clients include Web Summit, Gaelectric, Nuritas and Altratech. Gary Conroy, TransferMate’s Chief Product Officer commented, TransferMate is delighted to announce this new partnership with AccountsIQ. With a growing global client base, more AccountsIQ users are demanding simpler, faster and more cost-effective…

Read More