How iMagnum saves 60% more on every dollar it moves to India
From bank conversions with unclear margins to market-linked rates, AI-driven insights, and conversions that run automatically.
60%
Reduction in FX costs
30%
Faster settlements
100%
Visibility on transfers
Use case
iMagnum’s US entity collects revenue and regularly sends funds to its Indian entity to cover operating expenses such as salaries, vendor payments, and day-to-day costs. Because these transfers happen frequently and in meaningful amounts, every bit of the exchange rate counts. The finance team wanted to get more INR for every dollar it moved, without adding work to its monthly process.
Problem summary
Before Xflow, iMagnum moved funds from its US bank account to a forex account with its Indian bank. Each conversion meant calling the bank’s forex team, and the bank took a commission on every USD-to-INR conversion. While the service was reliable, the commission came off every transfer, and the team had little visibility into how much value was being lost along the way. For a company whose revenue is earned in dollars and spent in rupees, that cost added up across every transfer.
Why Xflow
iMagnum Healthcare moved its inward remittances to Xflow to earn more on every conversion. Before switching, the Xflow team compared iMagnum’s past bank conversions with Xflow’s rates, and the difference made the case. Onboarding was seamless, and the company was live the next day.
Results
With Xflow, iMagnum receives more INR on every dollar it moves to India, earning about 60% more than they did through their bank. Conversions now happen automatically and are timed with the help of AI-driven rate insights, and the team has full visibility into what’s available and what can be converted. A process that once required calls to the bank’s forex desk now runs on its own.
Impact on iMagnum's business
Better FX savings
Market-linked rates, without the bank’s conversion commission.
FX alerts for target rates
Probability-based rate insights help the team time conversions.
Hassle-free compliance
Invoices and compliance run on autopilot as soon as funds arrive.
Fast onboarding
Set up in a few hours and start receiving payments the next day.
“If you want to make more on all the hard-earned money you get from your business, you should definitely explore Xflow. There’s a lot more transparency on rates and the conversion process, and that leverage on every dollar adds up.”
Kasiraman Kalyanaraman, Chief Officer of Digital Transformation, Operations at iMagnum Healthcare
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