Company Overview
Founded in 2018, Next Goal Agency is a premier education and immigration consultancy helping international students achieve their dreams of studying, working, and living abroad, with a primary focus on Canada. With offices in Vancouver, Toronto, and Madrid, the agency provides end-to-end support, including personalized assessments, school applications, visa assistance, and post-arrival guidance. To date, Next Goal Agency has successfully supported +7,000 students worldwide.
Challenges Faced
- Complex International Payments: Managing transactions across Europe, Latin America, New Zealand, Australia, and the U.S. required multiple payment services, such as TransferMate, Wise, and traditional banks, leading to inefficiencies, human mistakes and time-consuming account management.
- High Fees & Currency Conversion Issues: Next Goal Agency needed to receive payments in EUR, AUD, and NZD as if they were local businesses, to streamline their payment processes and avoid the costly double conversions. Traditional banking methods created high wire fees, unfavorable exchange rates, and additional conversion charges, complicating transactions and reducing profitability.
- Domestic Payment Restrictions: High-value domestic transactions, such as tuition payments to Canadian colleges, were constrained by banking limits, forcing transactions to be split into multiple payments. This led to delays and difficulties in reconciliation.
Innovative Payment Solution
By adopting Chiizu’s payment solutions, Next Goal Agency was able to streamline both domestic and international transactions, effectively overcoming previous inefficiencies. The agency benefited from faster domestic payments, with high-value transactions (over $3,000) processed within 1-2 business days, bypassing the limitations of traditional banking systems. For international transactions, Chiizu offered a cost-effective solution, delivering better exchange rates and lower transaction fees for payments to regions like Latin America. Additionally, Chiizu’s multi-currency wallet solution provided domiciled accounts in the U.S. and Europe, eliminating double-conversion costs and reducing the need for expensive international wire transfers. This allowed Next Goal Agency to receive and hold funds in multiple currencies, including USD, EUR, GBP, AUD, and NZD, significantly enhancing their financial flexibility and operational efficiency.
Key Metrics
30%
cost savings on internation payments and currency conversions70%
less manual effort by eliminating multiple inefficient banking platforms1-2 days
faster payment settlements compared to 2 weeks with traditional banks
"Chiizu has made managing our payments so much easier. It’s cut down on fees, sped up transactions, and improved our cash flow. The customer service is top-notch, always looking for ways to improve the platform with new features for both payables and receivables. Chiizu has really simplified our operations!"
Featured Products
Discover the smart payment solutions that helped Next Goal Agency cut costs, speed up transactions, and simplify global payments.
Domestic EFT Payments
Chiizu enabled transactions over $3,000 to be processed within 1-2 business days, eliminating delays and overcoming traditional bank limitations.
International Payments
Chiizu provided a cost-effective solution for international payments, offering better exchange rates and lower fees, especially for transactions to Latin America.
Multi-Currency Wallets
Chiizu eliminated costly wire fees and conversion charges by providing domiciled bank accounts in Europe and the U.S., enabling businesses to manage multiple currencies efficiently.
Measurable Impact
The integration of Chiizu’s payment solutions delivered measurable improvements for Next Goal Agency:
- Reduced Operational Complexity: By eliminating the need for multiple payment providers, the agency reduced manual processing by 70%.
- Cost Savings: Next Goal Agency saved 50% on transaction fees and currency exchange costs, which had previously been a major burden on their bottom line.
- Faster Payments: The streamlined payment process reduced delays, ensuring that tuition payments and other financial transactions were processed quickly and accurately.
- Scalable Financial Infrastructure: With Chiizu’s solutions, Next Goal Agency now has a scalable infrastructure that supports its growth, allowing the business to expand globally without facing financial bottlenecks.
Conclusion
By implementing Chiizu’s modernized payment solutions, Next Goal Agency was able to improve operational efficiency, reduce transaction fees, and overcome the challenges of managing complex, cross-border payments. The ability to simplify payment processes, coupled with the flexibility to handle multi-currency transactions, has allowed the agency to focus more on its core mission: helping students succeed abroad. Chiizu has proven to be an invaluable partner, driving cost savings, efficiency, and enhanced financial control.
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Made with 🍣 in Vancouver
Chiizu Inc. is regulated by Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) with registration number M20764530. Banking services in United States provided by Community Federal Savings Bank, Member FDIC.
