Bano chooses Currencycloud for augmented remittances

Australia-based super app Bano has tapped Currencycloud to launch its FX Converter, augmenting remittances for its users.

The newly-launched FX Converter is integral to Bano’s goal of simplifying finances for Millennials and GenZers, and their friends and family, wherever they are. Its all-inclusive financial super app gives people the ability to split bills with others, make requests for payments, use a physical or digital Bano Visa card, use an overdraft feature, and take advantage of the new stock trading function. It also offers its users bonuses such as cashback, rewards, and promotions. For example, when a person makes a payment with their Bano VISA card, they receive up to 1.8% cashback.

By partnering with Currencycloud and integrating its APIs directly into its financial super app, Bano has access to Currencycloud’s FX rates, providing its users with low FX rates. The low rate means Bano can offer Australians low costs for US stock trading through its investment product. Users are able to access more than 35 currencies which they can send and receive within the app in real time, commission-free. They can convert any of these currencies instantly into Australian Dollars or vice versa.

Commenting on the News, Currencycloud’s officials explained that Bano wants to create an easier financial life for Australians and the internationals living there. Like Bano, they are committed to making finance accessible to everyone. The FX Converter helps people instantly access funds without high fees, and they are happy to be part of this solution.