Travelex Brochure 2019

TRAVELEX TRANSFORMING FINANCE ACROSS CONTINENTS

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TRAVELEX PUTTING PEOPLE AT THE CENTRE OF DIGITAL DISRUPTION WRIT TEN BY

OLIVIA MINNOCK PRODUCED BY

JA MES PEPPER

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Travelex’s Global IT Director Leonardo Tantari discusses the foreign exchange business’ technology transformation journey across a vast, rapidly changing landscape rom tourists paying for meals

the world of foreign exchange and

to multinational corporations

money on the move. In order to do so,

completing significant cross–

the FX giant is placing customer experi-

border transactions, Travelex has been

ence front and centre of a significant

there every step of the way for over 140

ongoing transformation – both in terms

years when it comes to foreign currency

of technology and people, which Global

exchange. Having progressed from

IT Director Leonardo Tantari says go

travellers’ cheques to digital payment

hand in hand.

F

platforms, the company can now be

Tantari joined the organisation in late

found in 1,200 Bureau de Change

2017, and has been leading the charge

outlets across over 100 airports in 27

in its digital transformation ever since.

countries. Now employing over 9,500

Previously working at Boots, and prior

people, Travelex is keen to remain at

to that Experian, the IT Director is

the fore of the changes encompassing

keenly aware of the challenges and

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opportunities facing any organisation

an internal communications drive which

when it comes to a technology trans-

Tantari says is vital to managing the

formation journey, and has applied

changes and culture shift involved in

this in the financial services sphere

the company’s journey.

to develop Travelex’s instore, online,

“We’ve had a successful year in

mobile and ATM channels and solutions.

terms of delivery, from a development

Citing 2018 as a “fantastic year”, Tantari

perspective but also from a support-

spoke to us from Travelex’s Head Office

ability perspective,” says Tantari. “It’s

in Kings Cross where the previous day

been fantastic. We introduced single

he’d been recording a “five minutes

points of contact globally, with two

with” Q and A video for the company’s

employees winning awards at their

intranet. This, alongside various blogs

regional Diamond Balls held in January.

and newsletters, will be shared with

These were given in recognition of the

Travelex employees globally as part of

support they provided to their respecw w w.t rave l ex. co. u k

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Leonardo Tantari, Global IT Director, Travelex

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tive regions in 2018. We have brought

to automation, always with operation-

a tremendous amount of transparency

al efficiency and the ideal customer

so we are now in a fantastic position

experience front of mind. “One of the

where we can provide the right informa-

key activities we embarked on is cloud

tion to stakeholders.” Following on from

transformation – it brings us tremendous

this success, Travelex looks to the future

agility in the way we can respond to our

with excitement, and technology plays

customers and partners, as well as

a key role in its vision. “We have to

bringing significant savings.” This agility

ensure we have the right tech and the

has been instrumental in Travelex’s

right people to support the running

recent partnership with digital gifting

of the business,” Tantari explains.

platform, Swych, to introduce Travelex Pay, a unique service within leading

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DRIVEN BY TECHNOLOGY

global mobile messaging app WeChat.

In terms of technology, Travelex is

The service is available to travelers

making strides utilising the latest

from mainland China who are visiting

advancements from cloud technology

the US – allowing them to purchase

“ WE ARE NOW IN A FANTASTIC POSITION WHERE WE CAN PROVIDE THE RIGHT INFORMATION TO STAKEHOLDERS” — Leonardo Tantari, Global Director of IT, Travelex

CLICK TO WATCH : LEONARDO TANTARI DISCUSSES A SUCCESSFUL YEAR DRIVEN BY COMMUNICATION

goods and services from a large network of retailers using their native currency. “This has been fantastic because it enables the Chinese community in the US to use a consumer offering from Swych, and it demonstrates that technology at Travelex can really integrate with a global technology partner. It shows tremendous effort in terms of how we collaborate, and how technology can transform the Travelex business.”

Travelex’s data science function is also instrumental in transforming the business, as it’s vital to be able to provide w w w.t rave l ex. co. u k

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CLICK TO WATCH : LEONARDO TANTARI ON THE IMPORTANCE OF TRAVELEX’S PARTNERS 11 insights to all stakeholders in order to

time for partners whilst providing

make informed decisions. “We use Big

enhanced security in the process.

Data in particular – but also AI,” says

“Automation removes some of the

Tantari. “One example is the building

human activities,” Tantari comments,

of our retail stock engine, which allows

“but it should be focused on removing

us to better distribute our retail stock

the more administrative types of tasks.

across our stores. That has been

Ultimately, we still need engineers to

a combination of using both Big Data

help us work and inform effective

and AI.”

automation – with that, the focus then

In addition, Travelex has made

moves to actually being part of activities

significant progress with automation,

which hone in on the real outcomes of

both in terms of improving time to

automation. This in itself is a change:

delivery as well as quality of output to

some people of course need to under-

customers and partners. Automation

stand their job has to change, but it’s

is also used to migrate data, saving

changing from being more task-oriw w w.t rave l ex. co. u k

CLICK TO WATCH : LEONARDO TANTARI TELLS US HOW CONSUMER BEHAVIOUR IS CHANGING 12 ented to more outcome-focused,

in terms of how we are set up, which

which is critical.”

sometimes means changes. I firmly

Throughout these new developments

believe the key to any successful

which are driving increasing efficiency

change is communication: explaining,

at Travelex, the importance of people

embedding the change, and motivating

can’t be underestimated. Recently,

along that journey.”

Travelex went through a successful

With a presence across six continents,

restructure of its technology team.

a regular dialogue between the technol-

Tantari says this was necessary to

ogy team and the wider business is vital

ensure the right people were covering

in ensuring everyone in the organisation

the necessary disciplines Travelex had

understands the technology journey

identified as those that would help drive

they are on – and it’s clear Tantari is

its future strategic ambitions, both in

passionate about the team he has built.

technology, and as a business. “As any

“Travelex is a really exciting environment

organisation, we look at how to improve

with a lot of opportunities, but with

change comes the corporate responsibility to bring along our employees,” he explains. “Communication is something we constantly review from both a people perspective and a technology perspective. We’ll continue to do that with the introduction of more collaborative, innovative tools like improved telepresence, chatbots and video conferencing.”

CONSUMER DEMAND ACROSS A CHANGING LANDSCAPE The main driver of Travelex’s transformation has of course been the customer experience, as consumer behaviour

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changes rapidly. “We are seeing a big shift,” Tantari comments. “People are moving from using cash and banknotes to more digital solutions. Ultimately, E XE CU T I VE PRO FI LE

Leonardo Tantari Leonardo Tantari has a depth of experience in leading business transformation (including Agile and Digital B2C & B2B transformation), and joined Travelex from Walgreens Boots Alliance. As Global IT Director he oversaw their holistic IT portfolio, driving delivery for all areas from retail and supply chain through to the commercial, whilst spearheading the creation and delivery of a new digital strategy.

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“ I FIRMLY BELIEVE THE KEY TO ANY SUCCESSFUL CHANGE IS COMMUNICATION: EXPLAINING, EMBEDDING THE CHANGE, AND MOTIVATING ALONG THAT JOURNEY” — Leonardo Tantari, Global Director of IT, Travelex

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there’s a shift toward self-service – that’s where we’re really focusing from a technology perspective. Customers nowadays are looking for a smooth and seamless journey when it comes to actually transacting with any company or organisation. It’s key for us to understand different types of customers: for example, our offline customers versus online customers.

“We have a presence online, on mobile and ATM, and we are leveraging technology such as online chat, but we always maintain a large number of 16

stores on the high street and in airports – that’s really significant to us,” he adds.

“Retaining the ability to ultimately speak to a person and offer the reassurance that the transaction is secure, as well as for us to really know our customer, is critical as it is for any financial institution.”

“ PEOPLE ARE MOVING FROM USING CASH AND BANKNOTES TO MORE DIGITAL SOLUTIONS. ULTIMATELY, THERE’S A SHIFT TOWARD SELF-SERVICE” — Leonardo Tantari, Global Director of IT, Travelex

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As with most companies and particu-

us to be ahead of the game, in relation

larly those in the financial services

to the products and services we offer.

industry, security is at the heart of

We have to meet rigorous, stringent

Travelex’s operations. “It’s something

requirements when it comes to security.”

we review constantly across our land-

These stringent requirements carry

scape,” says Tantari. “This year we will

across not only Travelex’s vast land-

see a significant change in the space.

scape, but its network of partners and

We are piloting a set of tools which we

clients as well as the industry becomes

will test to determine if they are able

increasingly open. “It’s inevitable: you

to detect incoming regulatory require-

can’t deliver everything by yourself,”

ments across the globe– that will enable

Tantari comments. “You need to work w w w.t rave l ex. co. u k

1976

Year founded

9,500

Approximate number of employees

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with customers, partners and suppliers

distributed network we need to support

– the key is to understand how we best

– after all, we have over 9,500 employ-

use the technology, and whether we

ees dispersed globally across six

have to build it for ourselves or buy it.

continents. We rely on partners such

We really ask our partners to adhere

as Ultima and CDW for provision of

to stringent requirements when they

hardware, software and support

come on board.”

across a number of systems to enable

Of these partners, two vital organisations are Ultima and CDW. “The world

us to deliver the best services for our customers and employees.”

we live in now is about integration, the ability to use API to call other services –

A CHANGING LANDSCAPE

therefore, it’s fundamental that we have

Making this transformation work across

a fresh, open and aligned relationship

their global estate, as well as a substan-

with our partners. We have a very large

tial network of clients and partners, has

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been no mean feat – but Tantari is

everything we do. I believe that in every

confident about the journey so far

organisation technology will eventually

as collaboration remains key. “Our

have a platform and transform their

Commercial Directors are supported

business. Connectivity, but most

by a local presence from our support-

importantly the way we share informa-

ive functions, and we also ensure we

tion, will become critical – changing, of

have a close relationship with those

course, in a safe, secure and efficient

Commercial Directors in order to drive

manner,” he adds.

not only the global agenda but the local agenda,” he explains.

“I think as we move into the future of connectivity, with talk of blockchain and digital currency, services will become seamless and API will be at the heart of w w w.t rave l ex. co. u k

TRAVELEX King’s Place, 90 York Way, London N1 9AG T +44 (0)207 812 5500 www.travelex.co.uk