Currencycloud supplements regtech services with Clausematch

Thursday 11 August 2022 12:56 CET | News

UK-based cross-border payments platform Currencycloud has teamed with regtech Clausematch to implement its policy management solution.


Clausematch’s solution will reportedly allow Currencycloud to manage its evolving suite of policies, procedures and other business-critical documentation. Clausamatch’s solution will facilitate ongoing compliance with global regulatorions, it will enable smarter collaboration across Currencycloud’s expanding global footprint, and automate previously manual, time-consuming document management tasks.

As explained in the joint company press release, before signing the agreement with Clausematch, Currencycloud’s policies and procedures were developed and maintained using conventional office software. The company used sharedrives that had to be organised, approval processes needed to be designed, and reviews scheduled and versions needed to be managed. Clausematch’s solution automates all of this and includes additional features such as document connections and attestations that will reduce the time spent on these tasks and enhance the level of sophistication of document management.

UK-based cross-border payments platform Currencycloud has teamed with regtech Clausematch to implement its policy management solution.


Currencycloud’s slew of 2022 partnerships after Visa acquisition

Currencycloud is a cross-border payments enabler founded in 2012. Currencycloud has processed more than USD 100 billion to over 180 countries, working with banks, financial institutions and fintechs. Based in London with offices in New York, Amsterdam, Cardiff, and Singapore, Currencycloud works with partners including Dwolla, GPS and Mambu to deliver cross-border infrastructure solutions for clients. They are regulated in the UK, Canada, US, EU, and Australia.

In December 2021, Visa acquired Currencycloud in a deal worth USD 963 million. Currencycloud’s cloud platform was already supporting more than 500 tech and banking clients, with a global presence in over 180 countries, including popular multi currency wallets and currency exchange service providers startups like Monzo, Moneze, and Revolut.

Currencycloud has partnered with US-based developer platform Moov in March 2022 to augment their international and domestic payment capabilities. In the same month, Currencycloud has launched Weekend FX, providing clients with the ability to offer FX rates 24/7. With this solution, Currencycloud clients could offer customers a competitive fixed FX rate after the markets close on a Friday evening, and this rate will be what clients and their customers settle at on Monday morning when the market opens again.

In April, the company announced a partnership with Lemonade Finance to offer immigrants and businesses a money transfer service to Africa, followed by launching a new financial app, Swinto, alongside Swiss-based Velanis AG. 

Currencycloud continued its wave of partnerships with Australian super app Bano in June 2022, which led to launch a new FX Converter, augmenting remittances for its users. The big picture of this wave of product launches and agreements is a tell-tale sign of how the company is riding the wave of supply and demand when it comes to cross-border payments innovation.

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Keywords: cross-border payments, partnership, regtech, online payments
Categories: Payments & Commerce
Companies: Clausematch, Currencycloud
Countries: United Kingdom
This article is part of category

Payments & Commerce




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