The following is a guest post from Moneytis, a digital money transfer platform.
Neomy, a compass for expatriates lost in the Brexit
Since the Brexit has been voted, the pound’s value is dwindling. From time to time, it registers strong ups and downs. The latter follow the flow of political speeches and decisions on the question.
This situation is catastrophic for European expatriates living in England. They are seeing their savings melt like snow. But it is possible to limit the damage. To do so, people need to know the best moments to transfer money. Neomy, the intelligent robot developed by Moneytis, informs users each time a significant change in the exchange rate occurs.
Lisbon, on 28/10/2016
The 3 million European expatriates living in the England are struck by the Pound’s devaluation. They see their savings strongly depreciate. This is why many of them are transferring their Pounds in Euros in order to save their capital. The problem is that with the current instability due to the Brexit, it is extremely complicated to know when are the best moments to transfer your money.
Indeed, there are many fluctuations which are hard to anticipate. A single speech is sometimes enough to make the pound plummet. England’s Prime Minister, Theresa May, is in favor of a hard Brexit. All her speeches have negatively impacted the pound’s valuation so far.
The latest significant fluctuation occurred on October the 7th. A “flash crash” occurred in which the pound lost two percent of its value against the euro in a couple of hours, reaching its lowest valuation in seven years.
In this context it is hard for European expatriates to know when they should repatriate their money. This is why Moneytis’ intelligent robot-advisor Neomy was created. Neomy is a personal assistant who analysis the evolutions on the market and informs its users when significant changes occur. “This enables our users to avoid having to systematically check the evolution of the exchange rates” explains Christophe Lassuyt, co-founder at Moneytis.
“Users can simply relax as any significant change in their favor will be notified to them” Mr. Lassuyt said.
Neomy used to inform its users only by e-mail at first. Now she is also capable of sending alerts via Facebook thanks to its messenger bot version.
Neomy is the first messenger bot which gives information on exchange rates. This is a great opportunity for people to avoid having to systematically monitor the exchange rates of the currencies they are interested in. They can receive automatic alerts for these currencies, know the exact exchange rate at a precise moment within seconds and be informed on the best solutions to use in order to transfer their money.