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MercFX is one of Canada's longest-established foreign exchange specialists, founded in 1993 by Stephen Lau. The Toronto-based fintech company provides innovative currency hedging and global payment solutions for Canadian businesses operating in international markets. With over 30 years of experience, MercFX empowers companies to protect themselves from foreign exchange volatility through personalized strategies developed by dedicated currency traders. They offer a comprehensive suite of FX products including fixed forwards, open forwards, and spot contracts, serving businesses coast to coast with local offices across Canada.
As a rapidly growing firm processing billions of dollars in annual transactions, MercFX recognized the need to modernize their technology infrastructure to support their expansion plans. They sought a comprehensive platform that could consolidate their operations across multiple departments, streamline compliance workflows, and enhance the customer experience. The company needed a solution that would allow them to scale efficiently while maintaining the personalized service that has been their hallmark since 1993.
Rather than build an in-house system that would be expensive, slow to market, and lack a depth of features, they strategically decided to partner with a technology provider that could deliver a modern, cloud-based platform that they could build on top of.
"The collaboration with Kooltra has been transformative for MercFX. We're committed to providing our customers with the very best and the Kooltra Platform has quickly become central to delivering on that promise. As technology and the industry evolve, we know that Kooltra will keep us on the forefront of innovation, and we are excited to deepen our partnership with them." - Dawson Roes, COO, MercFX
When evaluating technology partners, MercFX compared several solutions in the market. They found many traditional providers to be inflexible, with limited customization capabilities and outdated technology stacks that wouldn't support their growth ambitions.
MercFX chose to roll out the end-to-end Kooltra Platform to realize the maximum return on their investment while driving substantial efficiencies and improved user experience.
By leveraging Kooltra's platform, MercFX was able to:
Accelerate Growth and Expansion
Improve Operational Efficiency
Enhance Customer Experience
Strengthen Compliance and Risk Management
The successful partnership between MercFX and Kooltra demonstrates how established financial institutions can modernize their offering and increase efficiency through automation, all while preserving what made them successful in the first place. By choosing the right technology partner, MercFX has positioned itself for continued growth and innovation in Canada's competitive foreign exchange market.
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