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SentBe partners Currencycloud to improve FX

Wednesday 7 December 2022 12:08 CET | News

UK-based fintech Currencycloud has partnered with South-Korea-based global remittance and payment provider SentBe to improve its financial exchange (FX) capabilities.

 

As part of the collaboration, Currencycloud aims to help SentBe better its payments service’s regional reach and offer its Korean consumers and businesses an improved and customised experience when sending money internationally.

What the partnership entails within cross-border payments

By collaborating with SentBe, Currencycloud enables the company to provide to its clients low-cost FX, thus making it possible for it to scale more rapidly as it is looking into expanding into the global foreign exchange market. With SentBe integrating Currencycloud’s API into its already existing FX management technology, the company is now given the option of offering a fully automated payments process to its customer base in South Korea and Singapore, providing them with transactions to the UK, EU, Canada, and the US in a more fast and simplified manner. 

Through the partnership with Currencycloud, SentBe has the option of offering a more extensive range of solutions to their customers, as well as competitive FX rates. Company representatives have stated in the press release that apart from providing their customers with services needed for international expansion, the Currencycloud platform has sped up their client service and simplified the transaction process in its entirety, thus minimising the time it takes for the company’s clients to receive their money and attracting more clients. 

Currencycloud officials have added that SentBe has a similar focus in making frictionless borderless finance a reality for its customers, and opening up low-cost, improved payments and transactions for everyone. The fintech is looking forward to continuing this partnership as SentBe expands into the US, Australia, and Europe.
 

UK-based fintech Currencycloud has partnered with South-Korea-based global remittance and payment provider SentBe to improve its financial exchange (FX) capabilities.

SentBe, Currencycloud product offering and recent developments

SentBe is a cross-border payment service provider founded in 2015 whose goal is that of building a ‘Borderless finance for more’, its products serving both retail and corporate clients globally. Having low fees, fast transfers, and simple processes, SentBe enables international money transfers to 50 countries, with the company looking to expand its business and secure a foothold in the industry. Its FX services include:
  • SentBe, an international money transfer and payment service for individuals;

  • SentBiz, an international money transfer and payment service for businesses;

  • And SENDA, a global ecommerce settlement API service.

Currencycloud is a Visa solution that gives businesses the capability of moving money across borders and transacting globally in a multitude of currencies in a fast manner. The company has processed over USD 100 billion to more than 180 countries since 2012, working with banks, financial institutions and fintechs of the likes of Starling Bank, Revolut, and Lunar. Currencycloud also works with partners such as Visa, Dwolla, GPS, and Mambu looking to deliver cross-border infrastructure solutions for its clients in a simple and clear manner. The company is regulated in the UK, Canada, the US, the EU, and Australia and was acquired by Visa in December 2021.

As part of its most recent developments, Currencycloud announced in November 2022 that it had partnered with digital ecosystem Quid Global to assist the latter in launching a global wallet aimed at supporting businesses when it comes to cross-border development. In October 2022, the company was selected as the preferred FX partner for fintech infrastructure platform, Integrated Finance. As part of this collaboration, Integrated Finance leveraged Currencycloud’s infrastructure-as-a-service to offer their clients access to Currencycloud benefits and to enable them to build cross-border payments and FX functionality into their platforms.

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Keywords: partnership, FX , payments , payments infrastructure, cross-border payments, cross-border logistics, remittances, financial services
Categories: Payments & Commerce
Companies: Currencycloud, SentBe
Countries: Korea, Republic of
This article is part of category

Payments & Commerce

Currencycloud

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SentBe

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