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What Black Banx Means to the Business Sector

There has been a lot of focus on the financial technology sector’s influence from the perspective of client usage. Fintech solutions like online financial management and mobile wallets have become more popular, in part due to continued digitalization and the need generated by the current pandemic.

In reality, the percentage of adults who use bank accounts has significantly increased, rising by 30 percentage points between 2011 and 2021, according to The World Bank.

Fintech has, however, also had a substantial impact on enterprises. For instance, Black Banx, a platform for global financial services, continues to play a significant role in the growth of the operations of numerous SMEs.

Global banking everywhere

German billionaire Michael Gastauer founded the company Black Banx in 2014 with the goal of enabling a free-flowing financial system for all people everywhere.

‘Everyone’ includes enterprises and organizations, even if the majority of the company’s clients are private individuals (28 million and counting as of mid-2023).

Black Banx, which operates in more than 180 nations, provides private and business accounts in 28 FIAT currencies and 2 cryptocurrencies, making cross-border transactions for account holders as easy and seamless as local ones.

This has meant having the ability to expand their operations in a variety of ways for SMEs (and even larger corporations):

Accessing international markets

Serving consumers abroad is not simple, and historically, it has been even more difficult for businesses to do so when they have few resources available to them for payment processing and general transaction completion.

But thanks to the Black Banx platform, they can offer customers a practical means to pay them for their goods and services while also having a safe and secure way to handle their money, regardless of where they are, where the customers are, or what kind of currency they like to use. True, traditional banks have already begun to support foreign transactions and have digitalized their services. Fintechs, like Black Banx, charge much lower transaction and currency conversion fees, making them more appealing choices for companies operating on a tight budget.

Hiring talent from abroad

The same can (and should) be said for how SMEs extend their workforce as they continue to find themselves with the expanded possibility of going global with their clients via finance.

Fintechs like Black Banx make it much simpler for businesses to ensure new hires are paid fairly and on time, whether they are doing so because local talent is simply not available to them or they are hiring new team members to have personnel present in a new market.

With their financial services, Black Banx empowers both employers and employees, making it easier for both to complete their tasks by guaranteeing that cost and compensation are one less thing for them to worry about.

Easily collaborating with foreign groups

Businesses can collaborate more freely with foreign companies thanks to Black Banx’s incredibly convenient borderless financial services. Transactions between the two parties, whether they are retail partners, suppliers, or cooperative businesses, are simple.

There are also very few restrictions on where the partner organizations may be found because Black Banx is present in more than 180 countries and counting. Transactions are made even simpler if they also utilize Black Banx to manage their global money because peer-to-peer transactions are completed in a matter of seconds and without additional fees.

Additionally, transactions may be easily traced, guaranteeing that “business as usual” can continue uninterrupted for all parties. Additionally, Black Banx accounts’ free currency conversions ensure that the finances of the two operating businesses are better managed.

Black Banx is expanding its companies into 2023 and beyond

Black Banx has had an especially successful first half of 2023. The corporation has so far had a historic year in terms of revenue, in addition to adding six million new subscribers, bringing its total client base to over 28 million.

Its revenue increased by 47% to US$997 million in the first half of 2023, compared to US$680 million in the same period last year. Alexander Johnson, group chief financial officer, claims that the company is on track to significantly outperform the goals it established for the full year.

“Black Banx is well prepared to reach its annual revenue forecast of US$1.9 billion for 2023 and has a good chance to improve its profit margin even further,” he says. While the devotion of Black Banx’s individual consumers has played a significant role in the company’s growth, its business clients also deserve a lot of credit for their confidence. Over half a million new business accounts were opened at Black Banx during the first half of the year, demonstrating how more SMEs now depend on the company to play a vital role in the internationalization of its operations.

Black Banx reported a gain of 28% in the number of business clients in the Middle East and Africa, where international banking is still very slightly developed, particularly on the traditional banking side. Globally, the company has added 16% more customers overall, bringing the total number of its commercial clients to over 2.5 million.

Black Banx views the development of business clients as a sign of positive growth and as confirmation of the high value of its business products. In order to enable entrepreneurs to spend more time on their businesses, the company wants to intensify its commitment to lowering banking issues.

Raqib
Raqibhttps://scrolin.com
I am Raqib Ali is a professional article writer and SEO executive who graduated in computer sciences & English literature. He has been working in multiple industries, including tech,SEO blogs, software, fashion, business, crypto currency, forex, travel, Food, and e-commerce. As a freelancer, He has years of experience converting his thoughts into words in a magnificent way. If you have any queries, then DM me at: [email protected]
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