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Luxury-safari.travel manages supplier payments in multiple currencies worldwide.
They can plan in advance and manage quotes and payments while keeping costs safe from FX swings.
With amnis, they issue multi-currency debit cards to travel groups with controlled spending and budgets.
Tailored safari experiences from a renowned provider in the luxury safari tourism market
Luxury-safari.travel, a Netherlands-based luxury safari company founded by Oscar Haartman, specializes in personalized safari travel in Africa, primarily for clients from Europe, with a commitment to underlying the principles of sustainability and nature conservation. Positioned within the luxury safari tourism market, each safari is uniquely tailored and highly customer oriented, ensuring an unforgettable adventure that showcases Africa’s diverse landscapes, wildlife, and cultures.
THE CHALLENGE
Dynamic FX management in an agile market
Luxury-safari.travel faced challenges in managing international payments (fx) across multiple currencies and markets. With a supplier base mainly requiring payments in USD or ZAR and flexible contract terms, traditional banking solutions proved inadequate. Since customers typically book safaris well in advance, providing competitive quotes and accurate offers required constant monitoring of prices and FX rates, especially as customer and supplier payments often occur up to a year after the initial quote.
The safari travel expert explored various fintech providers. Its experiences with currency hedging were marked by inflexibility, particularly due to manual processes and substantial deposit requirements. Flexible Forward contracts, which are vital for the company, proved to be a critical tool for mitigating currency exchange rate risk, which was amplified by overnight margin calls and unexplained losses.
All in all, the challenge encompassed not only managing international transactions and navigating time differences between offers and payment settlement dates but also finding a partner capable of adapting to their agile business needs.
amnis has been a game-changer, transforming what was once a headache into a breeze. Its constantly evolving portfolio of features and products has truly impressed us – for us, it’s clearly the best tool out there.
Oscar Haartman
Founder and Owner, Luxury-safari.travel
THE SOLUTION
Advanced currency hedging strategies for Luxury-safari.travel
With its complex currency management needs, the company sought a solution that offered flexibility and efficiency in handling FX transactions, with currency hedging as the key instrument. Knowing amnis’ Country Manager for the Benelux, Haartman’s decision to switch to the fintech was solidified in 2022 when he saw the platform’s remarkable offerings, which not only covered his currency exchange demands but also provided additional benefits for his business.
Fair & dynamic hedging
Luxury-safari.travel profits from agile fx hedging and fair exchange rates, thanks to convenient value date adjustments and amnis’ transparent handling of forward points.
Versatile forwards
The switch to amnis eliminated high upfront deposits, enhancing their flexibility and making forwards, even in small batches, more accessible for the company.
Multi-currency card
The global debit card allows the safari provider to issue cards to travel groups while keeping control and transparency over the budget, limits and usage.
Shareable payment tracking With public tracking links, Haartman can share the real-time status with suppliers and instantly confirm that the payment is on its way, fostering trust and reliability.
In 2022, the travel expert embarked on a journey with amnis, discovering a partner whose versatility and range of services perfectly met his needs and whose business model matched his own very well.
amnis’ unique offering of flexibility in forward contracts has resonated strongly with the company’s dynamic currency management. By hedging smaller amounts and adjusting value dates, Luxury-safari.travel maintains agility in its financial operations, which is a major benefit. The digital nature of the amnis platform allows for effortless self-service, enhancing operational efficiency significantly.
The currency accounts are a big plus for Haartman: «In our experience, accounts in local currencies are indispensable for catering to our international clientele. The amnis multi-currency account is pivotal. For instance, Scandinavian customers can effortlessly settle bills in SEK, their native currency, boosting trust and confidence. I hope more entrepreneurs will discover the amnis solution.»
In addition, the amnis multi-currency business debit card brought an interesting business opportunity: the card’s ability to seamlessly manage pre-defined budgets in local currencies has paved the way for the company to tap into new niche markets, such as MICE travel. With the option to issue up to 50 physical cards and unlimited virtual cards included in the essential package, the safari expert can conveniently provide custom cards to groups while retaining control over settings like budget limits, country restrictions or ATM withdrawals permissions. According to Haartman, «the debit card is that little extra that stands out when offering and planning such trips.»
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