"CEO Skander Malcolm discusses OFX's strategic moves and 2024 financial results"
OFX Embraces B2B-Led Transformation with Paytron Acquisition
In a significant move towards becoming a comprehensive financial operations partner for businesses, OFX has revealed its long-term strategy, OFX 2.0. This strategy aims to empower business clients with a modern, all-in-one platform that integrates international payment solutions and financial operations tools.
As part of this strategy, OFX has announced its plans to fully integrate and rebrand Paytron as part of the company. The acquisition of Paytron is expected to broaden OFX’s suite of business payment and financial tools, enabling deeper integration and richer services for B2B clients, thereby advancing the OFX 2.0 transformation.
During the earnings call, CEO Skander Malcolm outlined the details of OFX 2.0, emphasizing the importance of delivering scalable, intelligent tools that enable businesses to streamline global payments, manage currency flows, and automate financial processes—all through a single, unified platform.
The acquisition of Paytron is strategically positioned to support this B2B-led vision by enhancing OFX’s product offerings around payment automation, expense management, or integrated corporate finance platforms. However, specific details about Paytron’s role were not explicitly detailed in the search results.
In addition to the acquisition, OFX reported its FY 2024 results, which received positive market reaction. The company's net operating income (NOI) was A$227.5m, up 6.3% year-over-year, and underlying EBITDA (excluding Paytron) increased 8.2% to A$67.6m. Despite facing macroeconomic headwinds during FY 2024, OFX's B2B business remains predominant, and the company has an enterprise performance and strategy in place.
The acquisition of Paytron brings multicurrency, card, and invoice management capabilities to OFX, further cementing its position as a one-stop solution for businesses handling international transactions. OFX has already completed the acquisition of Paytron, and the company is now concentrating on developing markets for growth in the B2B sector.
[1] Source: OFX's partnership with Burnley FC showcasing a move beyond traditional payment services to a holistic financial operations role. [5] Source: OFX's partnership with Burnley FC, where OFX’s platform supports managing global business accounts, foreign exchange tools with competitive rates, automated accounts payable, intelligent corporate cards, and 24/7 international payment support.
- By acquiring Paytron, OFX is expanding its business offerings to include advanced features such as payment automation, expense management, and integrated corporate finance platforms, all aimed at streamlining global payments and financial processes for B2B clients.
- The integration of Paytron's multicurrency, card, and invoice management capabilities into OFX's platform will further strengthen its position as a one-stop solution for businesses handling international transactions, allowing them to manage their financial operations more efficiently.
