Intermex Corporation's Retail Expansion: Robert Lisy, CEO, Discusses Q3 2021 Financial Results
In the ever-evolving world of remittances, Intermex, a leading player in the industry, is fortifying its strategic position against potential competition. The latest development comes in the wake of Facebook's entry into one of Intermex's key markets, Guatemala, and the emergence of Facebook's Novi.
To sustain its success, Intermex has outlined several strategic measures. One such move is the launch of a revamped Remittance-as-a-Service (RaaS) platform. This platform, designed for businesses, allows for seamless integration of rapid and secure cross-border money transfers into customer experiences. The customizable system can be utilised across various platforms like WhatsApp, mobile apps, and the web, offering a branded experience to users[1][2][3].
Intermex's RaaS platform covers a wide range of markets, including Mexico, Guatemala, Honduras, the Dominican Republic, El Salvador, and select countries in Southeast Asia, the EU, and Africa. This extensive coverage helps Intermex maintain a strong presence across multiple regions[1][2][3].
Compliance with necessary regulations, such as know-your-customer (KYC) and anti-money laundering (AML) measures, is critical in maintaining trust and legitimacy in the market. Intermex's platform ensures these regulations are met[1][3]. The company's large payout network in Latin America supports multiple payment methods, including cash pickups, home deliveries, and direct bank deposits. This comprehensive network enhances user experience and retention[1][3].
Partners also benefit from 24/7 bilingual customer support, business insights, and ongoing strategic guidance. These services help businesses optimise their use of the RaaS platform and navigate competitive markets effectively[1][3].
The discussion between Daniel Webber and CEO Robert Lisy focused on maintaining growth in both retail and digital sectors, with Intermex's omnichannel strategy at the forefront. The role of cryptocurrencies in remittances was also touched upon, although no specific plans were disclosed[4].
In Q3 2021, Intermex saw a 23.4% year-on-year increase in remittance transactions, and a 26% year-on-year growth in revenue[5]. These figures underscore Intermex's ongoing success and its ability to adapt to market changes.
As Intermex moves forward, it plans to continue its strategic approach to maintain its competitive edge. By offering a comprehensive solution that includes technology, compliance, and operational support, Intermex positions itself as a preferred partner for businesses seeking to expand their payment services[6]. Its extensive experience and network in key markets like Latin America can be significant advantages against new entrants.
Sources: [1] https://www.intermex.com/about/ [2] https://www.prnewswire.com/news-releases/intermex-launches-revamped-remittance-as-a-service-platform-301343703.html [3] https://www.prnewswire.com/news-releases/intermex-announces-q3-2021-results-301354813.html [4] https://www.bloomberg.com/news/articles/2021-10-20/facebook-s-novis-remittance-push-faces-competition-from-incumbents [5] https://www.prnewswire.com/news-releases/intermex-announces-q3-2021-results-301354813.html [6] Interview with Daniel Webber and Robert Lisy, CEO of Intermex (private)
In the midst of growing competition, Intermex is investing in a revamped Remittance-as-a-Service (RaaS) platform, designed for businesses, to enhance cross-border money transfers and secure a strong presence across multiple regions. This strategic move covers business transactions in markets such as Mexico, Guatemala, Honduras, the Dominican Republic, El Salvador, and select countries in Southeast Asia, the EU, and Africa.
As part of Intermex's business strategy, the company is focusing on maintaining compliance with essential regulations like know-your-customer (KYC) and anti-money laundering (AML) measures while offering a comprehensive solution that includes technology, compliance, and operational support to businesses seeking to expand their payment services.
