Moneycorp partners with BankClarity for cross-border payments

By Gloria Methri

BankClarity, the banking technology provider to non-bank financial institutions, has deployed Moneycorp’s API technology to streamline foreign exchange and cross-border payments for its clientele.

Moneycorp claims that its global payments solutions will give BankClarity’s clients access to live market rates aggregated from 14 partner banks.

Apart from enhancing its existing suite of banking and FX partners, the API will also improve BankClarity’s clients’ straight-through processing (STP) of cross-border payments.

Moneycorp says its payments API provides the building blocks for safer, speedier, and more secure global payments. Moreover, its optimised network minimises payment processing delays and failures, further streamlining payment services through BankClarity.

The agreement is likely to benefit global providers of administration services to international corporations, trusts, and funds.

Francesco Giovanni Ghizzardi, Head of Payments Solutions of Moneycorp said, “As two progressive businesses with a relentless focus on solving client needs, it is 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 clientele. Our highly valued expertise means that BankClarity clients will have the best service on offer, and we know it will provide efficiency and power growth at every stage.”

In September this year, Moneycorp expanded its presence in Europe with the launch of its business in France. In January, the company strengthened its in-country payment capabilities by providing access to alternative payment rails in APAC, Latin America, and Africa.