London
31 August 2016
Reporter: Stephanie Palmer

Currencycloud to offer easier euro payments


International payments solution Currencycloud is offering non-eurozone based clients euro-denominated banks accounts and direct access to European payments systems, through a partnership with Arkéa Banking Services, a subsidiary of Credit Mutuel Arkea.

The partnership is intended to allow Currencycloud clients to benefit from faster cross-border payments and more efficient reconciliation, while Currencycloud will be able to process payments through the pan-European TARGET2 system.

Building on and improving capabilities for cross-border euro payments, the new offering will allows for next-day payments to Europe from, for example, the US.

Currencycloud will also be able to create euro-denominated international bank account number (IBAN) accounts and bank accounts for its clients and their end customers, allowing payments to be sent directly to and from those accounts.

The offering is also intended to help clients managing high volumes of business-to-business payments manage the challenge to reconciliations.

Mike Laven, CEO of Currencycloud said: “Fast, secure and transparent international payments underpin our clients’ offering and competitive edge.”

“More often than not in today’s digital landscape, payments must also be international—this brings speed and process optimisation into even sharper focus. With current ambiguity around the UK’s membership of the EU, it’s more important than ever that we are able to offer our clients direct access to the European market.”

More payments news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
SWIFT welcomes new payments platform for Australia
14 February 2018 | Brussels | Reporter: Jenna Lomax
SWIFT has welcomed the public launch of a New Payments Platform in Australia
Central Bank of Lithuania selects SIA to access RT1
11 January 2018 | Milan | Reporter: Becky Butcher
The Bank of Lithuania has selected SIA to access RT1, the pan-European instant payments infrastructure, which come into effect as of 21 November last year
ECB approves major settlement and collateral projects
08 December 2017 | Brussels | Reporter: Jenna Lomax
The European Central Bank has approved the combination of TARGET2 and T2S, and the introduction of a harmonised collateral management system for the eurozone
Ebury exports transaction services offering to Canada
07 November 2017 | Toronto | Reporter: Theo Andrew
The new office is intended to support rising demand for international currency payments and collections, foreign exchange risk management and import finance solutions from Canadian businesses
Deutsche Bank gpi service expands to euro payments
06 November 2017 | Frankfurt | Reporter: Stephanie Palmer-Derrien
Deutsche Bank has launched its global payments initiative service for euro payments, promising to process payments between continents within 30 minutes
Swift harmonises VP Securities network in Denmark
19 October 2017 | Toronto | Reporter: Theo Andrew
The enhancement, set to launch in 2018, means banks will face reduced costs by harmonising the network used to connect with other securities markets across the globe
NEX partners with Baton Systems
17 October 2017 | London | Reporter: Jenna Lomax
The agreement means Baton Systems will be the first third party to provide its clients with services through NEX’s Infinity solution
More payments news