Noviti Finance Case Study

Industry & Location: Finance company based in Lithuania.

Benefits: TransferGo reduced Noviti Finance’s currency conversion costs, saving the company thousands on international business payments.

“We’ve saved thousands of Euros on our transfers thanks to TransferGo’s competitive rates. We highly appreciate the 24/7 availability of TransferGo’s conversion and transfer services. At the same time, its dedicated customer support team has ensured that all of our business needs are met. We look forward to continuing the partnership.” Linas Armalys, Noviti Finance

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About Noviti Finance

Noviti Finance is a Lithuanian-based business financing company, which provides loans to businesses across Europe. In 2024, the company expanded its operations by opening a new office in Poland. 

Challenges

Summary: High currency conversion costs

Most of Noviti Finance’s transfers are between his subsidiaries in Lithuania and Poland, which requires large amounts of currency exchanges from Euros to Polish Zloty and vice versa. Previously, Noviti Finance used Swedbank, one of the largest banks in the Baltics, for its currency exchange and salary payouts. While Noviti Finance was offered special rates for its large transactions, the costs were affecting its bottom line. This led to Noviti Finance seeking a more cost-effective solution.

Solution

A close contact recommended TransferGo to Linas based on the promise of better exchange rates and uncompromised reliability. TransferGo provided Noviti Finance with a more cost-effective way to handle its frequent currency conversions, making it an ideal fit for all of its business needs.

Results

After switching to TransferGo, Noviti Finance began to save thousands on transfers, which significantly reduced its currency conversion costs.

As well as better rates, Noviti Finance received personalised customer support throughout the onboarding process as well as ongoing account management. This ensured that Noviti Finance’s unique business needs were being met—something Noviti Finance couldn’t get from a traditional bank. 

Significant savings: Noviti Finance’s overall expenses reduced dramatically once switching to TransferGo.

Tailored support: TransferGo’s dedicated customer support team followed up on Noviti Finance’s account, understanding the business thoroughly and ensuring a seamless service.

Increased efficiency: Noviti Finance now takes full advantage of TransferGo’s easy-to-use platform, which ensures smooth and efficient transactions from start to finish.

Looking ahead, Noviti Finance can spot the potential to streamline its international financial operations further thanks to new TransferGo features like multi-currency accounts. The company anticipates these tools to significantly enhance its business efficiency. 

And if Noviti Finance wishes to further expand its operations, TransferGo will be able to support its growth with its safe, seamless and cost-effective money transfers.

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