By integrating the innovative open banking technology of tell.money, CurrencyFair aims to enhance its money transfer service, making it more efficient, transparent, and aligned with current financial regulations. This strategic partnership underscores CurrencyFair's commitment to offering secure, cost-effective solutions for international transactions. The company has a history of excellence, having won Best of Show at FinovateAsia 2012 and continuing to innovate in the fintech space through collaborations like this one.
Enhancing Money Transfer Services Through Innovation
CurrencyFair is leveraging cutting-edge technology to streamline its operations and offer superior services to customers. By incorporating tell.money’s open banking solutions, the company can provide faster, more secure transactions that adhere to evolving regulatory standards. CEO Jan Lorenc emphasizes the importance of improving payment efficiency while maintaining compliance, which aligns with CurrencyFair's mission to deliver value to expats, small businesses, and others involved in cross-border finance.
The integration marks a significant step forward for CurrencyFair as it seeks to remain at the forefront of global payments technology. Tell.money's advanced tools not only facilitate smoother transactions but also empower CurrencyFair to maintain competitive exchange rates and low fees. Customers benefit from an easy-to-use platform where they can set up transactions, specify currency details, input recipient information, select deposit methods, and complete transfers effortlessly. These enhancements ensure that users enjoy rates up to eight times cheaper than traditional banks, covering various needs such as overseas property purchases, tuition payments, and pension receipts.
Expanding Capabilities with Strategic Partnerships
Founded in Dublin, CurrencyFair continues to build on its reputation as a leader in cross-border payments by forming alliances that bolster its capabilities. Their recent collaboration with tell.money exemplifies this approach, allowing them to deliver enhanced experiences globally. Meanwhile, the merger with Assembly Payments underpins their strategy to serve mid-market and enterprise-level businesses via the joint venture known as Zai, which offers integrated financial services including fraud management and reconciliation.
Tell.money, established in London in 2020, provides a comprehensive SaaS platform enabling account providers to implement open banking solutions effectively. Its product suite includes tell.gateway for API interfaces, tell.confirm for payee verification, tell.heartbeat for continuous API monitoring, and tell.life for personal finance management. Such robust offerings complement CurrencyFair's strengths, reinforcing their position in the market. Furthermore, appointing Jan Lorenc as divisional CEO reflects CurrencyFair's dedication to leadership and innovation, ensuring continued growth and success in the dynamic fintech landscape.