Case Studies Archives

Circit

May 27, 2021/0 Comments/in Business, Case Studies /by Jonah Craig

How fire.com brings value to businesses with real-time FX transfers

Circit is an online platform that helps audit firms perform higher quality audit engagements, collaborate with clients, and instantly verify assets at source.

The Challenge

Circit’s challenge was to find an online account provider that would allow them quick access to multiple accounts, allow them to easily receive payments in both euro and sterling as well as provide a competitive rate for foreign exchange services. Finding an instant FX solution with effective pricing was a core point of consideration when they were looking at potential solutions.

The other aspect that Circit needed to consider was to keep account reconciliation as simple as possible.

The Solution

FX Transfers is one of fire.com’s core features on our platform. When Circit signed up for a free fire.com business account, they were able to avail of our multiple accounts and instant FX transfers with the ability to receive money in both currencies, all at a competitive rate. As well as offering these features, fire.com were able to assist Circit get setup easily with our support team.

Today, Circit have met all these needs with fire.com’s business account. The account also provides compatible uploads for Circit’s finance system as well as providing enhanced security features on all of their Fire accounts including multi-factor authentication and real-time notifications on account activity.

The Benefits

Creating multiple accounts in real time – Circit creates new fire.com accounts (with unique IBANs) in real time, without the need to go through an application process.

Real-time foreign exchange at an interbank rate– Circit now has the ability to convert funds instantly at a competitive rate 24/7, with adjusted pricing as volumes increase.

Access to a range of payment services – Circit now has access to Faster Payments and BACS for Sterling payments and SEPA for Euro payments.

Enhanced security and control – Circit uses multi-user authorisation for approving all transactions for increased security and control. In addition, Circit receive real-time notifications when payments are made or received into their fire.com accounts.

Efficient customer support – a trained support team, available via phone and email, quick to respond to questions.

Testimonial – Q&A with Circit

What attracted you to a Fire Business Account and what was the challenge or problem that led you to seek out an enhanced business account?

Quick access to accounts, and payments in new currencies. We needed access to a bank account in a new currency at short notice, to allow us to make and receive payments – we are able to do this instantly with Fire. Fire allowed us to set up a GBP bank account quickly and easily, so that we could serve our UK customers.

What features do you make best use of or like most?

FX – quick and easy to move funds between currencies, same day payments

Testimonial

“Fire allowed us to quickly open new bank accounts as needed. The instant FX transfers are quick and convenient, and help us to manage our cash flow. Reconciliation is simple with the compatible uploads for our finance system, and I love that we get notifications when payments are made or received!”

– Clodagh Vance, Chief Financial Officer

The Circit website can be found here.

The Joe Duffy Group

May 11, 2021/0 Comments/in Business, Case Studies /by Jonah Craig

The Joe Duffy Group – leveraging multiple debit cards and accounts with Fire to help better manage expenses and budgets.

The Joe Duffy Group are a major car dealership based in Ireland.

The Challenge

Joe Duffy Group is Ireland’s leading motor retail group and currently has 23 Nationwide locations representing 17 brands and employing over 500 staff. Wanting to centralise corporate card expenditure for their multiple dealerships throughout the country, The Joe Duffy Group needed a secure solution that could provide them with multiple accounts and debit cards for their staff to use, and at a price that made sense.

The Solution

With the ability to instantly create multiple debit cards and accounts via Fire account, Fire were able to provide the Joe Duffy Group with an out of the box solution that immediately catered for their staff expenditure needs.

The Joe Duffy Group are now able to manage multiple sites across the country with a centralised finance solution, which reduced their administrative burden. The Fire desktop and mobile application has provided them with a user-friendly method of opening new accounts and ordering debits cards as required. Each Fire Mastercard® debit card can be linked to specific sub accounts, and blocked/unblocked as needed, providing fine-grained control over expenditure for the Group.

The Benefits

Creating multiple accounts in real time – The Joe Duffy Group creates new Fire digital accounts (with unique IBANs) in real time, without the need to go through an application process.

Instantly add debit cards and users– manage accounts, change user permissions and order more cards using the firework online web portal.

Access to a range of payment services – Faster Payments and Bacs for Sterling payments and SEPA for Euro payments.

Enhanced security and control – The Joe Duffy Group uses multi-user authorisation for approving all transactions for increased security and control. In addition, Joe Duffy Motors receive real-time notifications when payments are made or received into their Fire accounts.

Efficient customer support – a trained support team, quick to respond to questions.

Testimonial – Q&A with The Joe Duffy Group

Why did you choose Fire over other providers?

For the Joe Duffy Group, the costs of operating accounts with debit cards via Fire compared to other solutions/operators presented a tangible opportunity to maintain control over expenditure in an efficient manner to suit the business needs without incurring excessive account maintenance or transaction charges.

Since selecting Fire, the Joe Duffy Group experience with the Fire customer support team has been overwhelmingly positive – the team are particularly responsive and attentive to our requirements.

What was the challenge or problem that led you to seek out an enhanced business account?

Operating credit cards across multiple sites resulted in a significant administrative burden for our business and was challenging to manage in a control effective manner.

How is the Fire Business Account helping you to solve those problem/s?

By centralising corporate card expenditure requirements to a single platform of online bank accounts and debit cards with Fire, we have improved our expenditure control effectiveness and reduced the administrative burden for the Finance team.

Testimonial

“Fire has enabled the Joe Duffy Group to operate more efficient and secure processes for making online and card payments which has enabled the team to focus on delivering the best value and service to our Sales and Aftersales customers. The ease of use of the Fire secure mobile app with realtime transaction notification and reporting has empowered the Joe Duffy Group to drive its business forward with confidence in our payments partner. Fire’s excellent customer service through their support team ensures that on the rare occasion that queries are raised, these are attended to and resolved by Fire without delay – the Joe Duffy Group holds customer satisfaction as a cornerstone of our business and it is clear from our experience that Fire operates with a similar focus – a strong partnership based on common goals.”

– Barry Keogh, Group Financial Controller

The Joe Duffy Group website can be found here.

Straight Teeth Direct™

October 23, 2019/0 Comments/in Business, Case Studies /by Owen O Byrne

Discover how we’re helping Straight Teeth Direct™ scale globally by providing payment services in euro and sterling with a Brexit-ready business account.