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
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
SWIFT blockchain testing shows progress
13 October 2017 | Brussels | Reporter: Theo Andrew
Challenges remain in the development of unique value propositions and integration with legacy back-office applications
European banks line up for real-time payments launch
10 October 2017 | Paris | Reporter: Theo Andrew
The first group of users are currently testing the platform’s connectivity, as it prepares for a “real-time payments ramp-up in Europe”, with banks including BBVA, CaxiaBank and UniCredit, a company statement said
UniCredit embarks on test phase for European instant payments
25 July 2017 | Milan | Reporter: Stephanie Palmer
UniCredit has started testing EBA Clearing’s instant payment solution RT1, in preparation to roll out instant payments multinationally
ECB to launch new faster payments system
22 June 2017 | Frankfurt | Reporter: Stephanie Palmer
The European Central Bank (ECB) is expanding its TARGET 2 instant payments system to facilitate retail payments throughout Europe
New liquidity management solutions set to manage cross-border payments
15 June 2017 | New York | Reporter: Stephanie Palmer
J.P. Morgan has launched two new liquidity management solutions for cross-border payments
SIA to provide Icelandic payments update
13 April 2017 | Reykjavík | Reporter: Stephanie Palmer
The Central Bank of Iceland has selected technology infrastructure provider SIA to implement and support its new real-time gross settlement system and instant payment platform
More payments news