David Schwab's questions to International Money Express Inc (IMXI) leadership • Q3 2024
Question
Zach, on behalf of David Schwab from Citizens Financial Group, Inc., asked for clarification on whether the company's sub-10% digital share is based on the send or receive side of transactions. He also requested insight into trends in the Mexican market, particularly concerning currency volatility.
Answer
CEO Robert Lisy confirmed the sub-10% digital figure refers to the 'send side' of the business. He noted that if the 'payout side' were included, where many wires are deposited to bank accounts, the digital share would be much higher, around 30%. Regarding the Mexican market, Lisy explained that a weaker peso typically strengthens their business by creating a greater incentive for workers to send money home. He added that other factors, like lower interest rates boosting the U.S. housing industry where many of their customers work, would also be beneficial.