Morningstar | OFX Group has opportunities to gain share with its low-cost online foreign exchange service.
OFX Group is a low-cost, easy-to-use, and secure provider of foreign exchange payment services. Its online model incorporates an efficient platform to handle tasks from client acquisition and execution to compliance and risk management. Combined with bank accounts and regulatory licences around the world, OFX Group continues to branch out from its Australian roots into the United Kingdom and Europe, with strong growth in North America and Asia. The company targets individual and small to midsize enterprises with average transaction values of around AUD 22,000, and estimates its addressable market at AUD 60 billion in revenue, leaving it with attractive growth opportunities. However, there are risks from increased competition and disruption from new technologies, compliance with anti-money-laundering legislation, the loss of banking relationships, and recent disruptions from senior management changes.OFX Group is engaged in the provision of international payments and foreign exchange services. Co. offers fast international money transfers at competitive rates for individuals & businesses. Co.'s two products are international payment services and international payment solutions. International payment services are monitored by geographic region (based on client location) and provide bank to bank currency transfers servicing businesses and consumers. International payment solutions are monitored globally and provide strategic partners with a package which includes: OFX Technology platform; client service; compliance sophistication; banking relationships; and payments capabilities.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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