Five months ago, OpenFX made a splash in the fintech scene, emerging from stealth mode with a notable $8B in annualised payment volume. Today, they boast an impressive $20B mark. This swift growth involved significant internal changes, primarily a transformation in their customer interaction strategy.
The journey from $8B to $20B in annualised payment volume tells a story of growth and evolution. It reflects how OpenFX has changed its conversation with customers. The company reports a shift in dialogue towards the significance of settlement speed, now considered a critical infrastructure in the industry.
Settlement speed, the time it takes for a transaction to complete and funds to transfer, is a vital efficiency measure. In a world where customers expect instant results, this factor is increasingly important. Therefore, companies offering faster settlement speeds gain a competitive edge.
Settlement Speed: A Game-Changer for OpenFX
How has this focus on faster settlement speeds affected OpenFX? The company credits it as a key factor in their rapid growth. It has streamlined their operations and distinguished them in the competitive fintech market.
Furthermore, OpenFX asserts that the demand for faster settlement speeds isn’t just a trend. They view it as a pivotal industry change with lasting impacts that will shape the fintech sector’s future.
For OpenFX, prioritising settlement speed has been transformative. It has enabled them to stand out, offering a unique selling point that aligns with today’s consumer needs. It has also established an infrastructure moat, a difficult-to-replicate competitive advantage that safeguards their market position.
As OpenFX continues to grow, their strategy of emphasising settlement speed has proven successful. It serves as a potent reminder of the importance of tuning into customer needs and adapting in a dynamic, evolving industry. Indeed, for OpenFX, settlement speed has been a fundamental growth driver and a crucial success factor.
