Who are Begbies Traynor?
Begbies Traynor is the UK’s leading corporate rescue and recovery practice with more than 700 staff and 100 UK offices. They service a wide range of clientele on a multitude of matters which often carry an element of foreign transaction currency risk.
We have used Lumon on a number of foreign currency realisations. They offer best-in-class market insights to support decision-making and deliver considerably better value on execution than we would have gotten from our own bankers. I would have no hesitation in recommending Lumon as a specialist FX service provider.
Background
In the past, Begbies handled all foreign exchange dealings exclusively through their banking partners, lacking personalised support to optimise efficiency. With no prior engagement with a currency management firm like Lumon, they were eager to explore enhancements in pricing and risk management. They sought a scalable solution that not only benefited Begbies directly but also added value to their underlying client portfolio.
How we helped
Lumon collaborated closely with Begbies to grasp their existing processes and pricing intricacies, offering a comprehensive, cost-effective solution beneficial for both Begbies and their clients. Lumon delivered more competitive exchange rates, ensured same-day turnaround for currency trades, and offered personalised dealer support to enhance decision-making. Lumon optimised the execution of each currency trade by understanding specific timeframes, target exchange rates, and potential risk factors, working hand in hand with Begbies throughout the process.
