Situation
A London-based alternative lending and private debt specialist funds a subsidiary in Morocco carrying part of the group’s operating costs. Payroll and local expenses have to be covered on a fixed monthly rhythm.
Industry
Financial services — alternative lending, private debt and structured financing
Company size
12 staff — UK-headquartered, with operations in Morocco
The group's incumbent bank took more than 10 days to get funds onto the Moroccan account, at a cost never visible upfront: correspondent charges deducted along the chain, lifting fees, an undisclosed margin on the conversion. Morocco is a constrained corridor — the currency is not freely convertible, inbound flows require exchange-control documentation — so every transfer was handled as a one-off. For a subsidiary with fixed monthly obligations, funds landing somewhere between day 8 and day 12, for an amount known only after the fact, is not a treasury process.
Funding the Moroccan subsidiary took more than ten days, with no reliable arrival date and no visibility over the final cost before execution. Correspondent, lifting and conversion charges accumulated throughout the payment chain, while exchange-control documentation turned every monthly transfer into a bespoke process. This unpredictability placed the subsidiary’s payroll and recurring operating expenses at risk each month.
Costs materially reduced and visible before execution
One standardized process replacing a bespoke operation each month
Local payroll funded on a predictable schedule
