Payments validation company Apply Financial has announced a new partnership with global payments platform Currencycloud.
The new partnership is expected to further enhance Currencycloud’s offerings by utilising Apply Financial’s ‘Validate’ API.
Piers Marais, senior product owner, Payments, Currencycloud, commented: “We are constantly looking for ways to improve customer experience and reduce friction in the cross-border payment journey.
“With one simple integration to Apply Financial’s API suite, Currencycloud has been able to extend and enhance its validation coverage in a matter of weeks.”
Currencycloud said its “mission” is to remove the complexity of international payments and allow businesses to focus on delivering a great experience for their customers.
The firm boasts a network of nearly 40 currencies being paid cross-border to more than 180 countries.
“Customers will benefit immediately from our new partnership, seeing fewer payments held up in transit or returned back to them, and more payments landing more quickly into beneficiary accounts,” concluded Marais.
Integrating Apply Financial’s solution enables the firm to validate beneficiary account details and extend its existing validation workflow.
Currencycloud also expect Apply Financial’s APIs to support their clients to improve straight through payment (STP) rates, reduce delays and failures and comply with regulatory requirements in the real-time landscape.
Mark Bradbury, founder and CEO, Apply Financial, commented: “We are delighted that CurrencyCloud selected Validate API, to intuitively guide, validate and enrich international bank payments at payment entry, allowing Currencycloud to further remove the complexity for their customers making international payments.
“Using the Validate API Self Service area, Currencycloud is able to go live with Validate API painlessly and as part of a rapid roll out. We look forward to working with Currencycloud to further reduce the complexities for their customers around international payments and improve the customer journey.”