Scaling up to the next level
Small and medium-sized businesses don't want to have to worry about exchange rate risk. They prefer to concentrate on their customers and achieving a healthy margin. Franx, a subsidiary of the ABN AMRO Bank, enables clients to take care of their currency exchange management and international payments, quickly, easily, and cheaply.
"Franx was established as an independent fintech startup by ABN AMRO in 2018," says General Director Hatim Chebti. "We are now processing hundreds of millions of euros in transactions every year, and we have hundreds of commercial customers. More than twenty-five new customers are signing up every week." With the startup phase behind them, Franx is now on a growth path. The Second Payment Services Directive (PSD2) makes it easier for third parties such as Franx to play a role in the financial system. "Data sharing between different parties based on technical standards creates 'open banking'," says Hatim. "It's now simpler to opt for specialized service providers. This offers Franx more scope and new opportunities. Modern technology makes this possible."
"We clearly do have matching DNA."
The same mindset
"Our ambition is to consistently excel in delivering the best value to our clients. To do so we need to use all of the resources available to make currency exchange management and international payments quicker, easier, and cheaper. That is why Franx looks for partners who understand our business and can contribute to our mission. Schuberg Philis offers us secure, adaptable, and scalable IT." Hatim emphasizes that for their customers one thing is very important: "Clients are not interested in how it's built; they want 100% performance. We select our colleagues and partners based on this mindset. And it's the kind of culture I find at Schuberg Philis." Mission Critical Engineer at Schuberg Philis, Thijs van Leeuwen, agrees: "We clearly do have matching DNA. The developers at Franx devote a lot of care to the quality of their software. When, however, incidents do occur, we take pride in putting in all the effort needed to immediately solve the issue and together we seek a permanent solution."
"Our partnership is on the verge of the next chapter," says Hatim. "We've asked Schuberg Philis how they can provide extra value for our customers by finding new technological possibilities and integrating them." Mission Critical Engineer Ismael Apolinario adds: "It would mean we can achieve even lower costs for Franx by purchasing capacity when it is required in the Public Cloud. We can also increase the speed of feature delivery by integrating cloud services in the development cycle."