Alpha FX Group plc (LON: AFX) announced the launch of an alternative banking platform on Wednesday that will provide services to the alternative investment sector.
The launch came after the company had a private launch of the platform when it offered the services to existing Alpha FX clients. Additionally, the company enhanced its platform based on client feedback and released a new version last May.
“This launch is a direct result of our ability to attract top talent combined with our investment in technology,” said Morgan Tillbrook, CEO at Alpha FX.
Moreover, the company revealed that it will open a new Luxembourg office to push the alternative banking solutions in the local markets. “Opening an office in Luxembourg reflects our focus on further expanding in a measured way, concentrating on those areas and markets where we know that we can differentiate and therefore grow sustainably,” Tillbrook added.
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Demand Remains High
Alpha FX’s offerings include FX risk management and alternative banking solutions to corporates and institutions internationally. It is performing exceptionally well and has recorded solid gains in revenue for the last several consecutive quarters.
Finance Magnates earlier reported that the revenue of the company jumped 90 percent year-over-year in the first half of 2021, while the profits surged by 224 percent, touching £15.3 million.
“Our vision is to establish Alpha as a leading provider of alternative banking solutions to the alternative investment space,” Adam Dowling, Managing Director of Alpha Platform Solutions, added. “Today’s launch is the culmination of over two years of development work, an extensive research program, and 10 years’ prior experience working in the alternative investment space.”
“As a Group, we are deeply committed to making a difference to Investment Managers of Alternative assets. Whilst the platform is setting new standards within the industry, we are still at the very start of our journey and will be continuing to invest to break new ground in the near future.”