HUBUC and Currencycloud partner to support global payments
👉 Embedded finance provider HUBUC partners with Currencycloud to allow customers to access foreign exchange and cross-border payments capabilities.
👉 Businesses using the HUBUC platform can now embed Currencycloud capabilities through HUBUC’s single API.
👉 Partnership supports HUBUC’s clients to conduct international business seamlessly, including paying employees based in other countries.
The next generation banking-as-a-service platform, HUBUC, has partnered with fintech Currencycloud to support HUBUC’s business customers with seamless cross-border payments, business to employee payments, access to a digital multi-currency account and real-time wholesale foreign exchange rates.
HUBUC is an embedded financial services provider that offers multiple payment capabilities from a single platform. Through this partnership, HUBUC business clients can access Currencycloud’s leading foreign exchange rates (38 currencies) and international payments across Europe. They will also be able to use Currencycloud’s infrastructure to quickly access virtual named accounts for their customers, with the ability to collect, convert, pay, and manage multiple currencies simultaneously using Currencycloud’s Spark solution.
According to research1, 45% of CFOs stated that they are either expanding their companies globally or are planning to do so within the next year. Currencycloud’s agile technology can facilitate international expansion, allowing businesses to pay customers and suppliers with local accounts and access real-time competitive FX rates.
Nick Cheetham, Chief Revenue Officer at Currencycloud, said:
“Embedded finance is reshaping international business payments – and HUBUC is an ideal use case for enabling business growth across borders. Thanks to our partnership with HUBUC we’re helping businesses to expand into international markets and provide financial services to their customers across the globe.”
Hasan Nawaz, co-founder and CEO, HUBUC, said:
“We knew that when it came to services as important as cross-border transactions – particularly in a post-Covid world of increased international trade – we needed an experienced and proactive partner onboard. Thanks to Currencycloud’s services, our customers can now open additional accounts without becoming regulated or applying for licenses themselves. This way, if we have a client that needs to offer international payroll, for example, it’s easy for employers to pay employees abroad in another currency.”
HUBUC enables companies to incorporate a number of payment capabilities into their offering, from onboarding and payments to FX and card issuance. It offers companies the convenience of having just one API, just one contract, and no regulatory requirements, meaning companies don’t have to sign up to multiple different contracts and multiple APIs. It also helps them bring payment services online much faster than existing methods.
HUBUC is an embedded financial services provider that allows businesses to access all services through one platform, with the ability to go live within weeks. HUBUC enables clients to embed the financial services they need to grow their business, including card issuance, five-minute bank account opening and KYC processes in 54 countries, IBAN / VAN issuance, money transfer, FX services, dynamic spending controls and real-time notifications. HUBUC also manages full regulatory compliance and on-boarding complexities on behalf of its business partners. It can onboard customers within days - significantly reducing additional time and cost investments required and enabling them to bring payment capabilities to market faster.
HUBUC is working with card issuer, Transact Payments Limited (TPL), to provide physical cards to its business clients.
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Moving money around the world is hard. Setting up overseas bank accounts and dealing with distinct regulatory regimes takes up time, money, and resources. Currencycloud removes that pain, helping customers achieve their ambitions sooner than they dared dream. With a global, multi-currency account infrastructure, customers are able to collect, convert, pay, and manage multiple currencies, anywhere in the world.
Launched in 2012, Currencycloud has processed more than $65bn to over 180 countries, working with banks and Fintechs around the world, including Starling Bank, Revolut, Penta and Lunar.
Based in London with offices in New York, Amsterdam, and Cardiff, Currencycloud works with partners including Visa, Dwolla, and Mambu to deliver simple, clear financial infrastructure solutions for clients. They are regulated in the UK, US, and the EU.
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