Midpoint have a patented peer-to-peer currency exchange platform which means that they match buyers and sellers in different countries who want to exchange money between different countries. The result is a faster, cheaper and more effective solution than the banks.
In the UK, foreign currency exchange is big business. The financial services sector generates 25% + of GDP for the United Kingdom every year and London is the world capital of finance. However, for many businesses it has been hard to see just how much they have been paying to exchange their money into another currency. First the rate that they get is often not that good and second the fees can be quite high as well.
Midpoint’s name comes from the “midpoint” or average of the market rate (because there are several different indices or measurements) at anyone time. Peer-to-Peer means that they match a buyer of Euros in the UK with a buyer of GBP (Pounds Sterling) in France for example. The funds are distributed via a listed public company called Earthport, which means that Midpoint’s liquidity is high i.e. it doesn’t have to deal with “owning” currency, it just deals with the digital transfer. The rates are low as well, typically from £10 per transaction.
Midpoint’s issue was how to get known with a small marketing budget in what has become a big market. With VC backed firms like TransferWise making a lot of noise, it was often hard to be heard. One of their investors, David Wong, got in touch with us via a friend of ours in Germany and we set to work, first by explaining why Midpoint is so good and secondly introducing the fact that it works on any device and has an amazing team behind it.
See what you think to the finished video. This is a classic corporate case study from The Creative Grid. It has great b-roll, interesting interviews and is shot beautifully.