Intermex's retail focus discussed in Q1 2022 results, as per Bob Lisy's insights
Intermex, a Latin America-focused remittances provider, has reported a robust performance in Q1 2022, with a 21.2% Year-over-Year (YoY) increase in revenue to $114.7m. The company's adjusted EBITDA also grew by 23% YoY to $20.7m during the same period.
In an interview with journalist Daniel Webber, Intermex CEO Bob Lisy revealed key growth drivers for Q1 and insights into the company's plans moving forward. One of the significant factors contributing to this growth is Intermex's focus on an omnichannel strategy, combining digital and retail transactions to cater to a wider customer base.
Despite the growth in digital transactions, Intermex continues to advocate for retail as a key part of its growth strategy. The company experienced a 28.5% growth in transactions across emerging markets, indicating a strong presence in these regions.
The rollout of Intermex's new mobile app contributed to a 104.6% YoY increase in digital transactions. This digital expansion is part of Intermex's efforts to compete with cross-border challengers, but the company is setting itself apart by prioritizing retail transactions over digital transfers.
Intermex's strategic focus on retail customers is a critical aspect of its growth strategy. The company has expanded its market share in core countries such as Mexico, Guatemala, Honduras, and El Salvador to 21.4%.
In a strategic move, Intermex recently acquired La Nacional, which is expected to provide access to more corridors in Europe. This acquisition was facilitated by Western Union in Q1 2022 through the takeover of La Nacional.
The article offers extensive research and analysis on cross-border payments globally. It also provides the opportunity to reset your password for continued access to the content. For further discussions or connections, Daniel Webber, who conducted the interview with Bob Lisy, is accessible on LinkedIn.
In conclusion, Intermex's Q1 2022 performance underscores its commitment to a balanced omnichannel strategy and its focus on retail transactions. The company's strategic acquisitions and growth in emerging markets position it well for continued success in the competitive cross-border payments industry.
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