Azimo joins Australian fintechs in fight for cheaper international money transfers

Digital payments platform Azimo has become the latest international money transfer fintech to set up shop in Australia, joining the IMT scene today with a promise to deliver competitive exchange rates and fast speeds to customers.

The UK-based service has operated in Europe since 2012, and now eight years on, it’s set its sights on Australia as its next large sending market.

“We’ve always been more interested in the Asia Pacific than the US,” Azimo’s chief operating officer, Dora Ziambra says.

“Australia is also an English speaking country where there’s less localisation needed [than other Asian Pacific countries], and it’s a place where 30% of the population is foreign born and has connections to another country. So it lends itself as a next step of international expansion.”

And with AU$28 billion remittances sent abroad from Australia every year, Ziambra says “there’s still room for Azimo to offer a competitive product.”

She says Azimo stands out from other digital players in terms of the breadth of its network and its wide range of payout methods.

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Source: Azimo joins Australian fintechs in fight for cheaper international money transfers