Back to payments and Forex this week. Patrick delves deep into the intricate fabric of Convera, a dominant player in the payment industry. We kick off our conversation with a retrospective, as Patrick provides a comprehensive overview of WU Business Solutions' 2021 activities. He shares the motivations and strategic intricacies behind Goldfinch Partners and BauPost Group's acquisition of WUBS.

Shifting focus to the core of Convera, Patrick paints a vivid picture of the company’s current positioning: its expansive geographical presence, the pillars of its value proposition, and the diverse suite of solutions it offers. The discussion becomes more insightful when we explore Convera’s significant global footprint, which spans 200 countries, operates in 22, and deals with 140+ currencies. Patrick touches on the company’s strategies that have driven this global success and the tailored services catering to a broad spectrum of clientele, from SMEs to NGOs.

Naturally, we couldn't discuss Convera's growth and development without exploring the transformation projects of this major player, particularly from a technological perspective, including its AWS Cloud migration. This leads us into a discussion about regulatory strategy and the factors that prompted the American company to establish its European headquarters in Luxembourg. Additionally, we delved into their risk management approach, especially concerning hedging foreign exchange (FX) risks.

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#118 Squiggly Career Stories with Dr Caroline Casey and Polly McMaster