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“Cash will not disappear, it is the most reliable and inexpensive means of payment”

02 • 12 • 2019

2 December 2019

The Castile and León edition of the economic newspaper El Economista interviews the Chairman and Founder of Global Exchange Group.

Isidoro J. Alanís claims that tourism is expected to increase by 4% worldwide. The foreign exchange company will reach 8.5 million customers this year.

Isidoro Alanís is one of the authors responsible for the transformation of a small exchange bureau in Fuentes de Oñoro into Global Exchange, the second leading operator worldwide of this kind of services in international airports, branched out in 21 countries and 5 continents.

How is 2019 going for the company?

It is going well, because we are reaping the rewards of our great investment in new openings. The last ones have been in Istanbul. They cost 40 million euro, but it was a risk worth taking, because now we have 41 branches with 400 employees in the world’s largest airport. We opened in April and the result is positive so far. In the other countries, everything is going right, apart from some spots with socio-political issues, like Hong Kong or Nicaragua.

The 2017-2021 Strategic Plan envisages doubling the number of customers served and reaching 10 million. Are you achieving its objectives?

I think so. We have two years left until 2021 and I cannot see any problem. We have to keep in mind that, during 5 months of this year, we could not count the Turkish operation. Therefore, if everything functions normally, we aim for 9 million in 2020. There are ongoing projects for opening in new countries. We are doing fine but we are cautious, because setting targets as aggressive as these implies that, over 5 years, we will have doubled the size of the company. But reaching 90% would be okay.

And how is Global Exchange adapting to the new opportunities offered by new technologies?

We have a very strong IT Department. In fact, it is the most important department in our Headquarters; we have 135 people there and 80 of them belong to IT. We are advancing in the digitalization, in serving final customers through other channels and in adapting to all the alternative payment methods. We also accept credit cards.

Read the full interview on the website of El Economista (in Spanish)

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