Interview: Ernest Ouwerkerk Discusses Digital Payments in a Globalised World

Chronicle.lu recently had the opportunity to speak with Ernest Ouwerkerk, Manager Business Development and Branch Director at 3S Money (Luxembourg) SA, an international payment service platform.

Based in London and with its European Union (EU) headquarters in Luxembourg, 3S Money enables payments in over 190 countries and access to over 40 currencies.

Chronicle.lu: What is your company's business area / main focus?

Ernest Ouwerkerk: 3S Money is a licensed electronic money institution with offices in Luxembourg, the Netherlands, the United Kingdom, Dubai and Latvia. We issue local IBANs to growing companies and investment vehicles, enabling them to enter new international markets and scale globally. With our business accounts, our clients can send and receive high-value cross-border payments in 190+ countries. Our cutting-edge foreign currency exchange services offer 40+ currencies and are competitive.

Chronicle.lu: How did this opportunity present itself? Is it (partly) due to the changing regulatory landscape?

Ernest Ouwerkerk: We are growing fast because there is a strong demand from international businesses and investment vehicles to collect, send and exchange high-value payments in 190+ countries. Often, our clients have outgrown smaller FinTech solutions, but are being overlooked by larger banks. A huge part of our success exists in the problems we’re solving for previously underserved mid-sized businesses. We are delighted to be licensed by the Financial Sector Supervisory Commission (Commission de Surveillance du Secteur Financier – CSSF) to offer these services.

Chronicle.lu: What makes your company / product / service special or unique?

Ernest Ouwerkerk: 3S Money is unique in combining leading FinTech solutions with highly personalised customer services. Our Client Managers stand ready to assist with payments, local banking advice and enquiries; we are proud to have a "No Chatbot" policy. We bring the best service levels as seen in traditional merchant banks, paired with the innovation and speed of an established FinTech company. No legacy systems and faster onboarding times means we’ve been able to scale quickly.

Chronicle.lu: Please describe your company's business model (how do you generate income?).

Ernest Ouwerkerk: Our income is generated from monthly maintenance fees and foreign currency exchange.

Chronicle.lu: During the quiet holiday period, what have you been focusing on? Are you financing the startup yourselves or have you attracted / are you trying to attract investors?

Ernest Ouwerkerk: With more than 100 employees working from five locations, we have officially reached scaleup status. Now that we have a licence to operate in Luxembourg, we are inviting all businesses with high-value international payments and foreign currency exchange needs to contact us.

Chronicle.lu: In what way(s) do you think Luxembourg is the right place to fulfil your business goals?

Ernest Ouwerkerk: Luxembourg is a globally recognised financial hub within the EU. It was a no-brainer to be present here, as our EU headquarters, and grow our international client base.