How Managed Markets Achieved 97%+ Client Retention with Sciopay’s FX Platform

Traditional relationship-driven service meets cutting-edge technology: How a personalised approach and powerful platform transformed client onboarding from 7 days to 30 seconds

About Managed Markets

Managed Markets is a forward-thinking FX brokerage offering three core services: currency transfers for businesses and individuals moving money overseas, trade finance and lending solutions, and cash management services to help businesses maximise returns on their cash balances. Founded and led by Zak Prendergast, the company differentiates itself through a traditional, relationship focused approach in an increasingly automated industry.

Their client base spans corporate customers, including importers handling everything from rice grains to machinery, and individual customers purchasing properties overseas or relocating abroad. Typical transaction volumes range from £10,000 to £500,000 monthly, with most activity in EUR and USD corridors, though they serve clients globally across emerging markets including Brazil, the UAE, and South America.

The Challenge

Before partnering with Sciopay, Managed Markets faced several critical pain points that threatened their ability to deliver the personalised, responsive service their clients expected:

1. Glacial Onboarding Times

With previous providers, customer onboarding took approximately seven days, an eternity in the time sensitive world of currency transfers. As Zak Prendergast explains: “You interact with a customer, they’re very warm, they want to use you, and within seven days you can find the interest can sometimes drop off.” This delay meant losing warm leads and frustrated clients who needed to move quickly on property purchases, supplier payments, or urgent business transfers.

2. Lack of Personal Relationship

As a perfectionist who values personal connection, Prendergast found the arm’s-length approach of larger providers frustrating. “I want to be able to go out to meet them, go to the office, really feel like we’re one kind of family rather than a customer-client relationship,” he notes. Dealing with rotating sales representatives or support staff who didn’t understand his business created communication barriers and eroded trust.

3. Payment Uncertainty

Perhaps most critically, Managed Markets couldn’t rely on payments arriving smoothly and on time. Prendergast found himself “constantly checking the bank to make sure funds were in… I wasn’t too sure if they were going to come in on time.” For a payments company where 100% accuracy is non-negotiable, this lack of confidence was untenable.

4. Limited Currency Corridors

Opening new currency avenues for clients, essential for businesses expanding into markets like Brazil or the UAE could take 5-6 days with previous providers. This severely limited Managed Markets’ ability to serve clients’ evolving international needs and unlock new business opportunities.

The Solution: Partnership with Sciopay

The turning point came when Stuart Young, Co-Founder of Sciopay, reached out directly to Zak Prendergast. This owner-to-owner connection immediately set the tone for a different kind of partnership.

“It was a great first impression because I’m the owner and director of a business. So it was nice speaking to another owner and director… I was getting my information firsthand.”

Sciopay’s white-label FX platform delivered on multiple fronts:

Relationship-Driven Technology

From day one, Sciopay established an easy communication channel connecting the entire Managed Markets team with the Sciopay team. This created an open communication channel where urgent requests, whether for proof of payment, MT103s, or compliance questions, received responses within minutes, not hours or days. “It really felt like we had that one-to-one relationship with Sciopay just like we do with our customers,” Prendergast explains.

Powerful Self-Service Platform

The Sciopay platform put critical functionality directly at Managed Markets’ fingertips:

• Access to 50+ currencies including exotic currencies (BRL, INR, MAD)

• Easy client management with GDPR-compliant staff access controls

• Client-facing portal for self-service statement downloads, forward contract viewing, and drawdowns

“They’ve created an amazing ecosystem that gives brokers exactly what they need in an instant. That was really a night and day difference.”

Competitive Pricing with Transparency

Stuart Young provided straightforward, competitive pricing from the outset, with no hidden fees or surprises. This transparency built trust and allowed Managed Markets to offer sharp exchange rates to their clients whilst maintaining healthy margins.

Streamlined Onboarding

Getting up and running with Sciopay took just one week, including document signing, paperwork, and full portal setup with Managed Markets’ branding. More importantly, the Sciopay team made the transition smooth and supportive. “I didn’t feel like a burden to them in asking questions,” notes Prendergast. The team was available via phone, instant messages or video call to guide Managed Markets through every aspect of the platform.

The Results: Measurable Impact

The partnership with Sciopay has delivered transformative results across operations, client satisfaction, and business growth:

97%+ Client Retention Rate

Managed Markets tracked retention rates across their payment providers and found that clients on the Sciopay platform demonstrated exceptional loyalty. “We’ve compared that with some of our other previous payment providers, which was a lot lower,” Prendergast reveals. He attributes this to the combination of one-to-one support and comprehensive platform functionality that keeps clients satisfied.

Access New Currency Corridors in 30-Second

“What once took 5-6 days now happens in 30 seconds. When a client opened an office in the UAE and needed to receive funds in AED, Sciopay were able to help us open a AED line for the client _“literally in 30 seconds” through the platform. This capability unlocked new business corridors and allowed Managed Markets to say ‘yes’ to client needs in real-time.”_

24-Hour Turnaround on Complex Cases

When a client needed an urgent house sale transfer with extensive documentation requirements, Managed Markets with the help of Sciopay delivered end-to-end service in 24 hours, from compliance approval to account opening to funds transfer. “It was a brilliant win for the customer and also a win for us and Sciopay because we managed to deliver on that promise,” says Prendergast.

Significant Time Savings

The platform has dramatically reduced administrative burden for both Prendergast and his team. “As a director, it’s brilliant because it saves me a lot of time having to deal with small tasks. I can really rely on Sciopay’s platform to do a lot of that for me,” he notes. Staff members have the tools to handle routine tasks independently, streamlining workflows across the business.

Enhanced Client Experience

Clients love the self-service portal, which allows them to download statements for their accounting teams, view forward contracts and open positions, and make drawdowns independently. This reduces back-and-forth communication whilst giving clients the control and visibility they desire. Automated emails throughout the payment journey provide reassurance and keep clients informed without staff intervention.

New Corridor Access

Sciopay’s currency support opened doors to previously difficult markets. “We can send payments out to hard-to-reach destinations like Brazil, receive funds from places like South America,” Prendergast explains. This expanded capability allows Managed Markets to serve a more diverse client base and pursue opportunities they would have previously turned away.

Success Story: The 24-Hour House Sale

One of Managed Markets’ most impressive wins showcases the power of the Sciopay partnership. A client needed to complete an urgent house sale transfer, one of the most stressful and time-sensitive transactions in personal finance.

The challenge? Extensive documentation requirements including house sale documents and solicitor letters, all needing compliance approval, and the client required a 24-hour turnaround.

Managed Markets communicated the urgency to the Sciopay team. Working together, they managed to get compliance approval, open the account, receive the funds, and execute the payment, all within 24 hours.

“It’s great as well in terms of when you have these types of transactions and there’s paperwork and compliance involved, that we know that Sciopay can get things done efficiently.”

This success built client confidence and demonstrated Managed Markets’ ability to deliver under pressure, a competitive differentiator in the property transfer market.

More Than a Vendor: A True Partnership

What sets the Sciopay relationship apart isn’t just the technology, it’s the genuine partnership approach. Prendergast doesn’t view Sciopay as a vendor, he sees them as an integral part of Managed Markets’ growth strategy.

“I don’t want to be cliché and say it’s a family, but sometimes I really do feel that it is. I don’t feel like it’s a customer-client relationship. I really do feel like it’s more than that.”

The communication channels remains active outside business hours. When Prendergast needs something urgent, “even if it’s after hours… they’re going to be there to support, even if they’re at home with their families.” This level of commitment has influenced how Managed Markets approach their own client relationships, inspiring them to go above and beyond.

Continuous Evolution

Unlike legacy banks with outdated portals, Sciopay continuously evolves their offering. “Every single month there’s there’s enhancements in features and additional functionality” notes Prendergast. More importantly, when Managed Markets provides feedback, whether about customer needs or workflow improvements, Sciopay takes action.

“The Sciopay team are young enough and bright enough to stay with the times, and they’re really constantly revamping their software and their offering to help us as a business.”

Looking Ahead: Intertwined Growth

Prendergast sees Managed Markets and Sciopay’s futures as fundamentally linked. “I’d like to think we’re very much intertwined with the growth of both parties. As Managed Markets grows, so does Sciopay, and vice versa.”

This mutual investment in success creates a virtuous cycle, Sciopay’s platform improvements enable Managed Markets to serve clients better, which drives business growth and retention. That growth, in turn, provides Sciopay with valuable feedback and partnership opportunities to further enhance their offering.

Advice for Prospective Partners

When asked what he’d tell other brokers considering Sciopay, Prendergast’s answer is straightforward: “Definitely just give them a shot.”

He acknowledges that the FX industry is saturated with partners, many of them massive entities with hundreds of employees where genuine one-to-one service becomes impossible. “Sometimes you’re dealing with five or six different people who don’t really know your business or your customers,” he notes.

“When you deal with the guys at Sciopay, they really do know your business, they know your customers inside and out, and it helps them being able to aid you a bit more as well.”

Summary: Built on Trust

The Managed Markets story demonstrates that even in an industry racing towards automation, human relationships and responsive service remain paramount. By combining personal attention with powerful technology, Sciopay has helped Managed Markets:

• Achieve industry-leading client retention (97%+)

• Reduce account opening from days to seconds

• Access previously unreachable currency corridors

• Deliver exceptional client experiences under pressure

• Build a scalable foundation for future growth

As Prendergast sums it up:

“The overall experience with Sciopay—the whole relationship is built on trust, and we ultimately know that they’re there for us and they’re entwined in our growth.”

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About Sciopay

Sciopay is an FCA-authorised fintech company specialising in cross-border payments and white-label FX platform solutions. We empower FX brokers, property professionals, logistics companies, and sports management firms with cutting-edge technology backed by personalised support.