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Scan.com swaps legacy banks for Airwallex to enable global expansion

Scan.com needed an efficient, technology-led financial solution which would enable them launch in new global markets. Find out why they chose Airwallex.

Close up image of male doctor looking at medical scan

Scan.com is the leading network of private medical imaging services across Europe and the US.

Industry

HealthTech

Company size

10 - 50 employees

Location

United Kingdom, United States, Germany

Airwallex products used

Global Accounts
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Charlie Bullock

CEO and Co-Founder, Scan.com

“Before you go to any of the large banks, make sure you speak to someone at Airwallex and have a demo first, because it is just so much better.”

Scan.com is the leading network of private medical imaging services across Europe and the US. The platform allows customers to book a private medical scan at a time and location that works for them.

Co-Founder and CEO Charlie Bullock started the company in 2017 with two clinicians, ​​Jasper Nissim (D.O.) and Dr Khalid Latief. They are now the largest platform in the UK for the ordering of diagnostic imaging, and have recently expanded to Germany and the US. 

Financial infrastructure on a global scale 

In order to pay international suppliers and staff, and accept payments from their global partners without being hit by FX fees, the Scan.com team needed a local bank account in each of their global markets. 

Their legacy bank offered a time-intensive solution which involved mailing documentation to regional bank branches. Charlie wanted to work smarter and faster than that, and so he came to Airwallex. 

Charlie Bullock

CEO and Co-Founder, Scan.com

“We were looking for a technology-enabled banking partner who could help us manage our finances across markets. We use Airwallex for opening accounts in new markets quickly.”

With an Airwallex account, Charlie was able to open multiple foreign currency accounts online in under 60 seconds, without having to visit a bank branch or send documentation in the mail.  

“We now have bank accounts in each of the countries we operate in,” says Charlie. “It allows us to very easily move funds from our account in the US into our other local currency accounts in various markets within seconds, and pay our partners and salaries easily.”

Unlike legacy banking platforms, Airwallex allows Scan.com to manage multiple currencies across regions with ease.

“You can use Airwallex on your phone or laptop and get what you need to get done in a few clicks," says Charlie. "We have our own local banking details in each country, which makes it so much easier to transact with our local partners as opposed to giving them our UK banking details. It also allows them to bank in their local currency so they don’t have to pay expensive interchange.”

How Airwallex is helping Scan.com build for the future

The problem

  • Scan.com needed a local bank account in each of their international markets, but they didn’t want the hassle of dealing with regional bank branches.

  • They wanted a technology-first solution which allowed for smooth global payments, so they could pay international suppliers and staff and accept payment from partners in multiple currencies. 

  • They needed a way to manage team expenses across regions and currencies without being hit by FX fees. 

The solution

  • With Airwallex, Scan.com can open multiple foreign currency accounts (including USD and EUR) at the click of a button. Each account comes with local account details.

  • Scan.com accepts payment from their international partners, holds those funds in their account and pays out to staff and suppliers whilst avoiding FX fees. 

  • Scan.com uses Airwallex multi-currency debit cards to manage team expenses across regions. 

  • When they need to convert currencies, they benefit from Airwallex’s market-leading FX rates

Scaling up in 2023

For Charlie and his team, the focus for 2023 is further expansion into the US market. 

With the right financial infrastructure in place, Charlie can manage payroll, team expenses and payment acceptance across the US and Europe without being subject to high fees or burdensome admin. Leaving him with more time and budget for the important things — scaling the business.  

If you’d like to learn more about how Airwallex can help your business manage finances globally, you can sign up for free online.

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