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Currencycloud: Vendor Analysis (Background and Solution Overview)[亲]

Supplier compliance

The era of decoupled procure-to-pay processes and technology — including B2B payments — within finance are coming to an end. But integration is not just happening within the four walls of an organization (e.g., API-based integration between SAP and Kyriba or Oracle and Basware). It’s happening between bank and non-bank providers and their customers, and customer systems. Specifically, areas such as supply chain finance, foreign exchange (FX), cross-border payments, invoicing and related solutions are increasingly moving from independent applications to ones that are integrated into bank and non-bank partner technology environments.

FX and cross-border payments are two prime examples. Most cross-border payments occur primarily through a correspondent banking network. Yet sending payments through the network can be a costly proposition for fintechs, challenger banks, FX brokers and others that must use banks.

Typically, if you want to send money via such a network, a bank has to keep money on deposit at a Nostro account at a correspondent bank in that foreign country. The funds in the account are used to settle the payment, which is directed by a message sent over the SWIFT network. If the bank does not have a Nostro account directly, it must go through correspondent banks.

这个模型有效。但它被陈旧和效率低下,往往导致支付高成本和慢速。有许多技术公司提供基础架构以更新此过程,包括CurrencyCloud。

这花费重要beplay网页下载的供应商介绍将CurrencyCloud的功能视为跨境付款提供商,提供整体介绍和摘要,以及介绍它如何通过特定用例处理外汇交易。银行,非银行和AP / P2P供应商构建了全球支付能力,即寻找该区域的OEM解决方案将发现此分析最相关。

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