By integrating with Apply Financial’s Validate API, Currencycloud has is able to validate beneficiary account details and extend its existing validation workflow, streamlining the payment processing and integration processes for clients.
While account detail validation improves Straight Through Payments (STP) rates over wire transfers and ACH payments, account detail validation has also become important to the real-time payment initiation process with the increase in instant payment systems becoming available around the globe. Apply Financial’s APIs will help Currencycloud and their clients to improve STP rates and comply with the evolving regulatory requirements in the real-time landscape.
Apply Financial’s APIs are already live in the Currencycloud API suite, with further validation improvements to follow over the following months of 2019.
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