Geroge Ito, CEO, Lidyarich Financial Group.
Forex Magnates Directory - Executive Interview.
Please go into detail about the Company, its market segment and recent developments:
→For small and medium-sized ventures who intend to expand their business globally, money infrastructure (Money Solution) tend to be a key point. We started our business with the purpose of providing excellent solution services and this initial business objective has never ever been changed .
Considering the issue that small and medium-sized ventures may suffer from inconveniences in seeking solutions for fund management, we intend to reform bank’s money infrastructure by creating an E-Wallet system based on the concept of Bank System and make continuous effort to give full play to this system. E-Wallet system is regarded as neither a banking product, nor an e-wallet (e-money), instead, it is positioned in the middle of them and serves as “AlternativeBankModel”.
Our target clients range from Binary Options Brokers, Forex Brokers, gaming companies to online contents/membership companies. Currently, our main focuses are on Binary Options and Forex industries.
How did you arrive at your current position, and what expertise do you offer the Forex Industry:
→When our company was established, the first thing we did was to set a clear target and find the precise position. Later on, we successfully established partnership as we had planned and immediately built up ABD system (Accounts Business Development), which is crucial to keep in close touch with our clients and provide them with comprehensive support for their business growth. Meanwhile, we not only focused on the improvement in money infrastructure and customer service, but attached great importance to technical support to Forex Broker. Therefore, we decided to invest LagartoTechnologyInternational(Hongkong) Limited, which leads to today's trading platform.
As a shareholder of LagartoTechnologyInternational(Hongkong) Limited, we are honored to present our new Forex trading platform TF Trader to enrich Forex investors’ trading experience. TF Trader is designed and developed by a group of technicians who have more than 10 years experience in the Forex industry. They fully understand the market needs and have developed the platform with practical and creative thoughts and ideas.
Please elaborate on your industry experience, and what you have have achieved since being appointed CEO.
→As the founder of the company, I have been working as CEO since its establishment . Before that, I had worked as manager and investment consultant in a professional financial company for 7 years, and mainly took the responsibility for the company’s Asian market for investment consulting. This 7-year working experience makes me think what an investor thinks and feel what an investor feels, and it finally inspired me to start the activities of Solution and other related services.
As a company specialized in enterprise clients service, we have established partnership with many corporations and have successfully promoted their business. With the rapid growth of our company, we are making improvement in our internal operation and system. As our management turns to mature and our business expands, we will as always provide our clients with best service.
In addition, technical investment basically occupies most of our company’s fund; existing products keep being updated and brushed up. We also cooperate with enterprises that hold developed and excellent technical power to speed our technical development in all-round way. All preparations for a near future’s expansion are completed recently.
Two years ago, we started from a single company, but now we have got 7 in total and started our Holdings organizational system from this May.
Why should current graduates or people looking for a job in Forex consider working for your company?
→Our company regard “human resource” as our “revenue resource”, we tend to put our investment mainly on talent import. Our human resource management and reward policy is different from the common ones. We not only contribute to enrich our staffs’ career but also help them reach their own personal dreams.
Although there are some adventures we have to face to conduct our brave and unique strategy, we have developed from a company with only 10 staffs to today’s 90 staffs, and we have been motivated a lot by such a speedy growth, the most stimulant point to us is low demission rate. I believe It is our amicable environment and efficient management that bring many new talents into our family.
What are your present issues and challenges and what is your plan to steer the company through them successfully?
→As an international organization with branches all over the world, it is essential for us to adapt ourselves to various cultures, customs, policies and so on. With the concerns for higher business efficiency, we tend to think a lot about how to run our team-work smoothly and how to manage our organization wisely. Recently, we have decided to make our Shanghai office as our company’s strategic headquarters to manage the whole organization. Besides, we tend to centralize our business. The office in Shanghai, for instance, functions right as a back office for the whole group corporation.
Since the majority of our services are based on the internet, the most serious challenge we are facing in external business strategy is to build up our reputation and to earn clients' trust. To overcome this challenge, we equip ourselves with professional qualifications, technique and keep ourselves being ready for any third-party’s censorship or supervision. What’s more, we also tend to keep a close relationship with our clients and vendors in a point-to-point and face-to-face way. In this live-or-die battle, we fully understand that our victory right depends on our talents. Thus, all talents in our team are selected from the best.
Following key points are presented for the reference of our plan to reach success:
・Tailor a wise business strategy (how and where to start)
・Clear targets and purposes (what should do and what should not do)
・Be honest and loyal to your customers and partner
・Emphasis Talent investment and development
What are main reasons or points that your company became a leading payment solution service company in Asian market for a short period?
→We focus our attention on our customers’ fund security. To be honest, our advantages are far more than competitive commission charge and user-friendly operation environment, our management strategy for customers’ fund security tends to help us to win trusts from clients.
The strategy is used for avoiding the risks from our company own side to customers’ fund and from the very beginning of our company’s establishment, the concerns of AML, compliance and the information security have been put into our company’s development plan.
How to establish our customers’ confidence and gain their trust? This question tends to occupy the highest position in our company’s priority list for leading our business direction. Both our efforts to achieve this objective and the publicity of our progressive results are of great importance.
As industry is well known to be highly competitive, what means do you use to survive and to excel in such a fast and sometimes harsh environment (except for collaboration with Forex Magnates Directory of course ;)?
→Yes, you are right. The industry is competitive and the environment is quite harsh. Just take Japan as example; we believe that it is third-party’s support to push its Forex industry to the world’s top level. What’s more, in today's market, single system products are hardly to stand out. Thus, how to provide clients with solution to promote outstanding products and how to let more third parties be involved in have become priority in our business.
Actually, Payment Solution is our star service and when it is matched with TF Trader, a Forex trading software that we designed and developed with Lagarto Technology International, support us to establish a strong strategy system to solve our Brokers’ problem. The system was established with two targets: to invite more third party's to be involved and to develop Forex Investment as a popular way in entertainment. We contribute to develop our systems with the purpose to bring more enjoyments to investors and brokers. （※TFTrader was officially released on 17th July, 2013）
Does your company focus on the domestic market or does it have a global presence?
→Domestic market is important to us, but we have to say we do have a global view and our own niche in the international market.
Is branding important, and what is your corporate view on it?
→Of course, the answer is positive. We tend to regard branding as a significant issue that not only relate to “image establishment” but also to a company’s own internal development. Let’s say, “Branding” equals “Credibility proof”, base on this foundation, we would like to brand our company with a high credibility instead of a superficial gorgeous “image”.
What is your predictions for the coming years of the Forex industry as a whole?
→Personally, I think Forex industry will be added more elements for entertainment, investment will not be regarded as an individual business action for personal benefit, but conducted in a more open environment in which investors can share their experience and ideas for more lucrative common benefit.
In addition, with technology advancement and development in non Forex industry, Forex industry will closely follow up cutting edge technology and the latest trend in other business related industry so as to improve its service and techniques and ultimately provide better service for Forex investors and brokers.
What innovations could the industry as a whole benefit from?
→I believe an increasing number of investors are coming to this industry. Advancement of technology is also sure to promote Forex industry. Its entertaining feature and convenient operability is bound to generate more profits.
In current situation, we must realize that self-regulation in Forex industry is far from enough. Thus, we must focus not only on marketing aspect, but also on finance, security and external supervision; more concerns for professional ethics are also required to protect investors' assets.
Companies must conduct business with norms and regulations, otherwise it is impossible to practically protect investors' right and interest. Thus, I believe it is essential to improve the overall standards in the industry to create a secure and transparent trading environment and protect interest of all stakeholders.
Do you think that the forex industry is transparent enough and that most companies including yours pay enough attention to due diligence?
→As far as I am concerned, currently in many countries, Forex industry is not transparent enough and many broker companies don’t play their responsibility properly. Deceptions do exist in some invisible areas since limitations from law tend to be ignored.
Being a supporter for establishing a Broker company, it is believed that a huge problem tends to be raised if an improper scheme is loaded to a new Broker company which is still hungry for profession knowledge. Such irresponsible operation often happens in the areas like liquidity or cover dealing.
Do you read Forex Magnates Quarterly report?
→Of course and definitely!
Thank you Mr Ito for your collaboration in providing an interesting & detailed interview.
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