Top Challenges Faced by Companies in Current Economic Climate | GBAF

Editorial & Advertiser disclosure

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Home > Interviews > Interview with Mr. Rajesh Agrawal – Founder & Chief Executive, RationalFX

Interview with Mr. Rajesh Agrawal – Founder & Chief Executive, RationalFX

Published by Gbaf News

Posted on June 27, 2012

5 min read

Last updated: January 22, 2026

Mr. Rajesh Agrawal, Founder and CEO of RationalFX, discussing challenges in online money transfer - Global Banking & Finance Review — In this image, Mr. Rajesh Agrawal, Founder and CEO of RationalFX, shares insights on the challenges and successes of the online money transfer service, Xendpay.com, amidst the evolving economic landscape.

1.Tell us about some key challenges that your company might have face recently due to the current economic climate?
Well, to be honest until now, I haven’t lost my sleep over anything that has happened in business. I enjoy every moment of this journey. However, like any business, there are challenges. Our online money transfer product, xendpay.com is in 7 languages and we are adding more languages to it. We developed it all in house and it was fairly challenging – not so much from the technical perspective, but more from consumer experience point of view. We want users from different countries/languages to have an experience which is in line with their expectations. Rajesh Agrawal

2. What has been your proudest moment since you’ve started the company?
We take a lot of pride in our customer service and not too long ago, one of our clients wanted a foreign currency draft to purchase a property in Italy. By the time we got the draft in our hands to courier it to our customer, it was the completion day for his property purchase. Of course, we did not want out customer to lose his property so we immediately booked our Customer Services Manager on the next flight to Rome and he personally hand-delivered the draft. It was a proud moment for us all.

3. How has technology helped your business?
Xendpay.com has allowed us to further enhance our knowledge and expertise in the funds transfer field. We have created such a system and technology so that we can provide the cheapest money transfer service. Unlike banks, credit card suppliers, and other money transfer companies who add a large margin Xendpay.com can avoid this as we do not have branches or retail agents to consider. By investing significantly in online money transfer technology we are now able to save money for others.

4. Tell us about your future projects and plans?
We have worked very hard for over 18 months to launch Xendpay.com our online money transfer service in last year. This year we are focusing to enhance the functionality, add more languages/countries and launch a mobile app for it. We want to make Xendpay.com accessible to our customers regardless of what device or operating platform they are using.

5. How has the current economic climate affected the funds transfer business in other parts of the world?
We have seen a steady flow of larger money transfers by high net worth individuals in the Eurozone investing in the UK, India and in some of the non-Euro EU member states like Poland and the Czech Republic as people look for non-Euro investments (particularly property). For business customers there is no doubt that the flow of money transfers to China paying for imports has slowed from many importers as they run down stocks hoping for better times. RationalFX’s SME clients across the Eurozone have also been calling us for advice on how to reduce their foreign exchange risk and even take advantage of the turmoil in the market.

6. Tell us what’s different about Xendpay.com?
The expert team at Xendpay will help you not only to set up a business account, but they will also work with you on your FX strategy, so you minimise risk and exposure on the currency market. Additionally, you will get the best advice on currency hedging from the corporate dealing desk. Having a business account will allow you to set up regular payments, forward deals and limit orders, plus telephone support will be available during business banking hours.

Benefits of having a business account in Xendpay:
– Online payments 24/7
– Competitive exchange rates
– Telephone dealing
– No annual limits
– FX quotes and rate watch
– Daily market news

7. How does it help the businesses?

International payment: Whether you are transferring or receiving international payments in foreign currency, for example, you need to pay invoices, overseas contractor employees’ salaries, etc. Xendpay will help you save money by offering highly competitive exchange rates.
Wire Money Transfer: You can wire your money abroad economically, easily and securely with Xendpay. As we are a member of the SWIFT banking network we are able to process your money transfers efficiently and rapidly to almost any bank worldwide.
Currency hedging: Xendpayan help your business to manage its degree of risk exposure for foreign currency transactions as our currency hedging solutions will protect your business from possible changes in foreign currency exchange rates.
Risk management: At Xendpay we always have the best interests of our customers in mind so we offer a range of risk management services that will ensure that your business is getting the best deal for its foreign currency exchange transfers.

FX strategy and dealing: Due to our constant reviewing of the currency exchange market we have in-depth market knowledge that enables us to fully analyse trends and to take a proactive approach by arranging short and long term strategies and implementing risk control strategies that hedge currency fluctuations

Top Challenges Faced by Companies in Current Economic Climate | GBAF