Following this partnership, GTreasury’s network of multiple large corporate and business customers will be given the possibility to integrate with Convera’s payments platform. This aims to offer GTreasury access to several global banking networks and improve the manner in which business payments worldwide are done, making them more efficient, transparent, secure, and cost-effective.
While focusing initially on the APAC region, clients of GTreasury throughout New Zealand, Australia, Hong Kong, and Singapore will be enabled to fund payments from Convera, as well as any third-party bank account. Convera will also aim to expand its cross-border services in the APAC area while meeting the needs and preferences of customers of various sizes, as well as geographies and industry verticals.
US-based B2B payments company, Convera offers a secure suite of services and foreign exchange products to firms and enterprises of all sizes. In the last couple of months, Convera had several partnerships and product launches, covering different geographic areas around the world.
In July 2023, the B2B payments provider announced its collaboration with Temenos Payments Hub in order to run in the Temenos Cloud for the modernisation of its payment infrastructure. Convera chose to adopt Temenos’ Software-as-a-Service (SaaS) for improving the efficiency of its payment processing, from both inbound funding and outbound disbursements. Moreover, it aimed to archive significant scalability goals.
After incorporating the Temenos SaaS solution, Convera focused on the process of doubling its payments volumes by 2028, in addition to expanding its payment rails and competing in the dynamic payments market effectively. In addition, the company planned to revamp its payments engine by replacing outdated systems gradually with Temenos’ scalable platform. This was set to establish a standardised platform for Convera’s international commercial transactions and payments.
Earlier in the same month, Convera announced the completion of the Western Union Businesses Solutions acquisition. The WUBS completed its transition to Convera after a USD 910 million acquisition in 2021. The final close represented an important step for Convera because it allowed the company to focus more on its investments and planned to improve the overall cross-border payments landscape in the following years.
Customers such as small business owners, NGOs, financial institutions, educational institutions, enterprise treasurers, and law firms were enabled to work with Convera. According to the press release published at the time, the institution revealed its plan to continue its development process through new partnerships with companies around the world.
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