Forex transfer firms give pricey UK banks a run for their money

LONDON: Working out of a shared office near London's Euston station, Michael Kent is part of a revolution that may be driven on by this year's row over alleged currency market manipulation by major banks.

Kent's online business, Azimo, and more than 30 others in the United Kingdom are building on the success of firms like Western Union and MoneyGram International in carving out a chunk of the market in international money transfers, travel money and card payments.