15th April 2022: Thomas Cook is a well-known travel company. India’s continuing concentration on the foreign exchange market has ensured its position as the world’s leading provider of FX services. The strategic goal of specialisation has driven it to become India’s largest non-bank foreign exchange services provider along four important axes: scale, speed, skill, and service.
Every year, the company’s foreign exchange operation services over a million retail consumers through its website and more than 100 forex outlets spread over 65 metros, Tier II-IV cities and towns across India. Over 1,000 corporate clients use the company’s services, and it has issued over one million FX prepaid cards. Over one lakh students studying abroad use the company’s fees and other remittance services. The organization has 21 counters at major airports and works with more than 1500 Forex agents.
Thomas Cook India’s Forex company launched on a pre-pandemic journey of digitalisation, leveraging the lockdown to accelerate its digital transformation, with a clear aim to embrace the opportunity of India’s rapidly increasing digital ecosystem and generate scale and speed. To meet the demands of contactless and secure transactions, the forex industry shifted to upgraded digital models, launching Virtual Forex Branch, which provided its employees with VPN telephony/auto diallers to stay connected while supporting customers from their homes. The revolutionary FXMate digital solution supports B2B partners with virtual foreign exchange services, online remittances, and card top-ups, which have proven to be crucial for students stranded abroad with rapid, seamless, and safe transactions.
Customers now have a choice and convenience thanks to the company’s innovative omni-channel model: simple, secure, and rapid reservations via its Online Forex Store; help via its contact centre; or strolling into their nearest Forex outlet to transact with an in-store expert.
Thomas Cook is a well-known travel company. Forex’s focus on digital transformation has been extremely beneficial to the company. Assisted the firm in achieving a 2X increase in value for Q3 FY22 compared to Q3 FY21; excellent QoQ transactions with a 72 percent increase compared to Q3 FY21; and 140 percent rise in card loads QoQ. The education segment has even outperformed pre-pandemic 2019 levels by 111 percent in Q3 FY20 and recovered by 174 percent in Q3 FY22 over Q3 FY21, with over 1600. Recently, Thomas Cook set up its office in Haryana.
Last year, the travel agency launched The India Holiday Festival, encouraging Indians to explore and discover their own nation.
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