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Finablr hoping for change in fortunes

Few companies can have had a worse start to the year than Finablr (75.1p). Travelex, one of Finablr’s subsidiary brands, discovered a software virus on New Year’s Eve which compromised some of its online services. Travelex took all its systems offline as a precautionary measure and unsurprisingly news of this hit the share price. There has been further uncertainty surrounding the company’s major shareholders and the first few weeks of 2020 have certainly been a bleak period, the share price slumping to around a third of the level it reached in December.

Finablr is a global platform for payments and foreign exchange solutions underpinned by modern proprietary technology. Finablr’s group companies provide a range of solutions for consumers and businesses across a wide network of digital channels, payments platforms and retail stores. The company operates across the entire payments and foreign exchange value chain, from origination to processing and last-mile distribution. Finablr partners with banks, financial institutions, retailers, mobile wallet providers and payment & technology companies. Its brands include UAE Exchange, Travelex, Xpress Money, Unimoni, Remit2India, Ditto and Swych. The group covers over 170 countries and has relationships with more than 100 regulators…