FairFX Group PLC (LON:FFX), the e-banking and payments group, has changed its name to Equals Group Plc (LON:EQLS) with effect from the start of trading on Thursday.
In a statement, the AIM-listed group said: “The decision to change the company's name reflects the evolution of both its operations and product offering, which have diversified in recent years beyond the heritage foreign exchange businesses of international payments and travel money, and further into integrated money management solutions for consumers and businesses, covering banking and payments.”
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It noted that, since 2017, the group has almost tripled in size in terms of turnover and its operations have broadened into three significant businesses - FairFX, CardOneMoney and City Forex.
The company said: “The unification of these businesses under a new, distinctive brand will provide further benefits for the Group in terms of supply chain management and efficiency.”
Commenting on the name change, Ian Strafford-Taylor, CEO, said: "The inspiration for the new name comes from a simple piece of insight: that our relentless focus on solving everyday problems by applying our ingenuity equals a better way for our customers to manage their money.”
He added: “With a series of new products set to launch in the second half of the year, which will strengthen our position in the SME money management space, it's a truly exciting time for us and our customers to be moving forward as Equals."