financial service firms & the currency cloud
DESCRIPTION
Information on our technology and collaboration with financial service companies.TRANSCRIPT
The Currency CloudCross Border Payments Platform
Product Overview for Banks, Brokers and Financial Services Firms
2
Product OverviewWhat does The Currency Cloud do?Build your business with The Currency Cloud’s easy-to embed Payment Engine. A next-generation service that lets your customers move money around the world quickly, transparently and securely.
Receive Money Convert Money Send Money
£
€
$
¥
£
€
$
¥
3
Product OverviewHow Do We Work With Financial Services Firms?
The Currency Cloud works with Financial Services Firms in two key ways…
1. New Product Delivery- For Firms not currently offering an international payments service
- Develop and deliver a new FX & payments services for your clients
2. Existing Product Development- For Firms looking to improve upon an existing service / product- Extend and improve existing FX & payment capabilities and reach- Cross-border enable existing products (e.g. multi-currency investments)
- Scale, automate and reduce the operational cost / risk of existing infrastructure
4
Product OverviewHow Does The Currency Cloud Help You??
Price management Trade routing Payment routing
Simple cross border receiving, exchanging & sending money via the cloud
The Currency Cloud does all the “heavy lifting” Risk management Compliance Alerting
Over 40 currencies Regular local payments in 29 countries**
Competitive prices because we have wholesale buying power*** Receipts Currency Exchange
Settlement Clearing Matching
Priority SWIFT Payments to 212 countries
The economics of a cloud based platform No infrastructure cost Low Capex and Opex Fast Deployment
2
1
3
4
Payments
* more pairs are available via phone, more online pairs keep being added** local, in-country receipt is planned. Local payment network is always expanding*** you can also plug in your existing FX liquidity and payments network
YouWe focus on
infrastructureYou focus on your
customers
5
Product OverviewWhy is The Currency Cloud Different?
Traditional Supplier Issues The Currency Cloud ApproachBrokerage RelationshipWhenever you hear “commission free” you know you are paying over the odds.
Service Provider RelationshipOur relationship with customer is that of “technology supplier” rather than broker.
Disparate Platforms and No AutomationMultiple non-integrated platforms imposes technology risk and operational risk & cost overheads.
A Single End-to-End Automated PlatformThe Currency Cloud platform reduces complexity, minimizes operational risk and reduces operational costs.
Price VisibilityLack of pricing transparency at the point of transaction (or post transaction) leading to “how do I know what I have paid? Is it fair?”
100% Price TransparencyTransparent and auditable currency and payment pricing known pre and post execution of transaction.
Price ConsistencyPrices rarely consistent and often depends on “what your supplier can get away with” at the point of transaction.
100% Consistent PricingPricing agreed & contracted up front and configured in The Currency Cloud platform, so will always be consistent.
Unhappy payment senders and beneficiariesCorrespondent banks may take fees for transferring money so the incorrect amount ends up at the end beneficiary. You have no control over this, nor visibility of fees pre-transaction.
Bypass Traditional Payment NetworksThe Currency Cloud uses a network of local bank accounts and payment providers to ensure the end beneficiary receives the full amount.
6
Product OverviewHow our product is structured
Payment Engine
TCC DirectTCC Connect TCC Applications
Cash Manager
Your multi currency e-wallet
Payment Manager
Make instant global payments
Conversion Manager
Convert your funds at close to mid-market
rates
Beneficiary Manager
Set up and manage payment recipients
7
Product OverviewWhat Other Features Are There?
Payment Engine Easy to use online interface – make a payment in less than 30
seconds Full back office for managing funds and payments Real-time online activity reporting Email notifications when payments are sent Email notifications for payment errors Pre-validations of beneficiary details minimizes payment errors Aggregation of multiple currency price sources to ensure best
prices Net and aggregate settlement for sold funds Secondary verification for confirmation of payments (four eyes
authorization) Payment and trade history – view online and download as a
CSV Bulk FX conversion and payments upload
Currency Conversion & Payments Convert amounts from as little as $1 Over 200 currency pairs, 24x5 Same day, Spot and Forward currency transactions Guaranteed conversion rates at time of trading – no
guessing, no risk. 100% P&L certainty Local payments in 28 countries Same currency payments 100% price transparency – we tell you exactly what we
earn Plug in your own liquidity Plug in your own payments network
8
Product OverviewCase Study – UK Investment Bank
TCC Direct (branded)Your
Brand
End-Users
£
Internal Staff
New revenue stream
Business OpportunityLarge captive corporate client base already engaged via NOMAD, corporate broking and corporate finance businesses.
The Currency Cloud DeliveredA new FX revenue stream and corporate FX product, branded as the customer. All delivered with minimal investment and went live with end-users within 1 month.
9
Product OverviewCase Study – Peer to Peer Money Transfer
YourBrand
End-Users
£
Internal Staff
Increased revenues
Business OpportunityLarge client base gained through social marketing and reputation of founders (ex-Skype ) who wanted to expand their currency capabilities and offer low cost, “guaranteed”** payments
The Currency Cloud DeliveredThe infra-structure to expand into different countries, add currencies and deliver low cost local payments. All seamlessly integrated into the customers user experience and platform.
TransferWise Platform
** The end-user sends $1 and the receiving beneficiary receives $1 - no correspondent fees or expensive SWIFT charges
