Profile

About Currency Exchange International

Currency Exchange International, Corp. is a publicly traded company on the Toronto Stock Exchange (CXI) and OTC (CURN). CXI provides a wide range of foreign exchange services to customers in both the United States and in Canada. CXI’s primary business channels to service customers are through its company-owned branch locations and foreign exchange partnerships with financial institutions and corporations. Services include foreign currency exchange, traveler’s cheques, multi-currency prepaid cards, foreign check clearing, issuing foreign bank drafts, and international wire payments.

CXI Owned Branches

  • Services walk-up customers: individuals, groups, companies and corporations.
  • Located in popular regional shopping centers, malls, or embedded within bank branches.
  • Offers foreign currency exchange for banknotes, U.S. and foreign traveler's cheques, and issues multi-currency Cash Passport prepaid cards (at specified locations).

CXI Relationships

  • Services financial institutions, money service businesses and corporations.
  • Deals directly with CXI operations team and are serviced through one of the company's regional vault facilities.
  • Offers foreign currency exchange for bank notes, U.S. and foreign traveler's cheques, international wire transfers, issues foreign drafts and clears foreign check items.
Providing a high level of customer service is a high priority for all CXI services. All employees are trained to deliver a "best in class" experience for all clients.

CXI's Goals

CXI’s primary goal is to create mutually beneficial relationships, while providing superior service and competitive exchange rates to its customers. In an industry that can have a negative connotation developed by consumers dealing with high priced airport exchanges and shady "casa de cambios", CXI is here to revolutionize the industry with its aforementioned dedication to providing a fair exchange rate and world-class customer service. As a wholesale vendor for financial institutions and corporations, CXI works hand-in-hand with companies to develop an exchange model that best suits their unique needs and giving these corporations the most value out of the service.

CXI’s web-based software platform, CEIFX, helps the company achieve its goals every day. CEIFX is widely considered as an industry leading software for foreign currency exchange. The proprietary software accommodates all of CXI's services in an intuitive platform providing an easy to use foreign currency exchange system. While CEIFX is highly regarded for its use on the frontline of transactions, at its core is the CVS (Compliance Verification System) compliance engine. With the software built around the compliance core, it's easy for all users to remain in compliance with foreign exchange regulations within their country. The software is utilized at CXI's branches and through the company's wholesale customer's network such as financial institutions and other foreign exchange companies. CEIFX provides a customizable platform for a myriad of customer deployment needs, giving wholesale customers instant access to all of CXI's services at no cost to all qualified wholesale customers.


History of CXI

Established in 1998, CXI now owns and operates more than 30 retail branch locations nationwide, with regional facilities in major metropolitan and highly active tourist areas such as Boston, Denver, Los Angeles, Miami, New York, Orlando, San Francisco, Seattle, and Washington D.C. As well, the company has more than 460 financial institutions and corporations utilizing CXI as their provider for foreign currency services in Canada and the United States. CXI has shown significant growth since its inception through its excellent service, pricing and use of advanced technology to facilitate all transactions.

2007
  • CXI, under Randolph Pinna, purchases the retail branches of Foreign Currency Exchange Corp. from the Bank of Ireland Group.

 

  • Company-owned branches include eight retail locations and over the next eight years, CXI adds an additional 24 wholly-owned branches.

 

  • CXI launches its proprietary, web-based foreign currency software solution.

 

  • CXI establishes regional vaults for a total of three vaults in the U.S.: its main currency processing center in Miami, Florida and regional vaults in New York and California.

 

  • CXI commences services for financial institutions, allowing its partnerships with banks and credit unions to grow rapidly.

 

  • CXI Canada opens for business and establishes the Toronto Vault.

 

  • CXI completes its Initial Public Offering (IPO) on the Toronto Stock Exchange (TSX).

 

  • CXI Canada files application to continue as a new Schedule 1 Bank in Canada.

 

  • Expiration of the Regulation S restriction removed from CXI.S Common Shares - now trades as CXI on the TSX.

 

  • 98% of Common Share Purchase Warrants and Broker Compensation Units are exercised for a total gross proceeds of CDN $11.3 million.

 

  • CXI acquires certain assets of U.S. Exchange House, Inc. pertaining to the wholesale banknote operations located in the U.S. and Canada. Using some of these resources, CXI moves its California vault to Los Angeles expanding its operation capacity.
2015
  • At 2014 fiscal year-end, CXI exchanges more than USD $1.5 billion worth of currency in 2014, has USD $39.7 million in assets and services more than 460 companies at 8,250+ transacting locations.