“Moneycorp’s API complements our existing suite of banking and FX partners and ensures we continue to bring harmony and efficiency to every aspect of the activity surrounding the administration of complex cross-border transactions.”
BankClarity, a provider of banking technology to non-bank financial institutions, has tapped Moneycorp’s API integration in order to deliver new access to 120 currencies with live market rates.
This will allow BankClarity’s clients to achieve more competitive foreign exchange and straight-through processing (STP) of cross-border payments.
The partnership is believed to benefit global providers of administration services to international corporations, trusts, and funds.
Live market rates from 14 Moneycorp partner banks
Clients will leverage Moneycorp’s API integration to access live market rates, aggregated from 14 Moneycorp partner banks. This will enhance BankClarity’s existing suite of banking and FX partners.
Moneycorp’s payments API provides building blocks for safer, speedier and more secure global payments. Moreover, their optimized network minimizes payment processing delays and failures, further streamlining payment services through BankClarity.
Francesco Giovanni Ghizzardi, Head of Payments Solutions of Moneycorp, said: “As two progressive businesses with a relentless focus on solving client needs, it’s brilliant to see our partnership with BankClarity flourish. Implementing Moneycorp’s expertly engineered payments API will streamline foreign exchange and cross-border payments for BankClarity’s clients. Our highly valued expertise means that BankClarity clients will have the best service on offer, and we know it will provide efficiency, powering growth at every stage.”
Aidan McAvinue, Chief Executive of BankClarity, commented: “Partnering with Moneycorp is an incredibly powerful development for our clients and significantly enhances our offering across leading clearing banks and third-party providers, with a range of booking centres and payment solutions. Moneycorp’s API complements our existing suite of banking and FX partners and ensures we continue to bring harmony and efficiency to every aspect of the activity surrounding the administration of complex cross-border transactions.”
Moneycorp launched FX solution for crypto exchanges
Moneycorp is a global foreign exchange and payments provider with over £38bn of trades across 120 currencies. The firm is now targeting crypto exchanges by launching a Foreign Exchange Liquidity Management solution for providers of digital asset exchanges (DAXs).
The FX liquidity management solution provided by Moneycorp sources liquidity from 16 LPs and makes use of its suite of APIs to ensure clients can execute payments anywhere in the world. The aim is to offer “operational excellence, agility, and business growth to DAXs providers”, the firm stated.
Moneycorp is a subsidiary of Bridgepoint after being acquired in 2014 for £212 million. The firm then expanded internationally by obtaining Money Service Business licenses across Spain, Romania, and the United States. Moneycorp also obtained banking licenses in Brazil and Gibraltar as well as Hong Kong and Canada.