The Lighter Side Of The Cloud – New CEO
The Lighter Side Of The Cloud – Thunderstorm
The Lighter Side Of The Cloud – Google It
The Lighter Side Of The Cloud – Data Loss
Cloud Start-up: The Currency Cloud Targets Global FX

Cloud Start-up: The Currency Cloud Targets Global FX

Cloud Start-up: The Currency Cloud Targets Global FX

While no one has really heard of The Currency Cloud just yet, this new startup is set for big things as it looks to automate the Foreign Exchange (FX) scene through Software-as-a-Service (SaaS). Traditionally, the Foreign

Exchange involves the exchange of one currency into another and takes a lot of time, has to go through plenty of middlemen and often costs more money than it actually should take to do so. This is what the founders of The Currency Cloud hope to solve by creating an SaaS platform that will help to automate currency receiving, conversion and payment for 140 currencies in 200 countries worldwide over the Cloud in as transparent a manner as  possible.

While Paypal has been around for global currency conversion for quite a while now, it becomes just a bit unwieldy and not very cost efficient when scaled upwards for the really big transactions. Foreign Exchange transactions are about as big as it gets, which is why The Currency Cloud looks set to shake things up in the FX world. In effect, The Currency Cloud is very transparent, providing an easy-to-use and low-risk automated conversion platform API for those businesses looking to utilize cross-border financial exchange seamlessly, without having to go through the traditional shady middlemen. The service is relatively low-risk, fast and allows for you to do your own Currency Cloud management or let them handle it for you and since it is a simple API layer, integrates easily into your existing business process.

Founded by the same people who did the UBS online FX platform, The Currency Cloud Team also have rather secure funding in place to back them up. While they started with $2M from the Anthemis Group they have since secured Series-A funding for $4M from Atlas Venture and follow-up support from the Anthemis Group.

Mike Laven, CEO of The Currency Cloud, said “Businesses everywhere need to deal in multi-currencies in every working day. Yet the methods being used are antiquated and expensive to all but the largest corporates and the banks. Our re-design of the industry business model delivers price transparency, risk management and ease of use.”

By Muz Ismial

Sorry, comments are closed for this post.

FREE! POPULAR RESEARCH TOOLS

Popular Archives

Cloud Infographic – The Future Of Big Data

Cloud Infographic – The Future Of Big Data

The Future Of Big Data Big Data is BIG business and will continue to be one of the more predominant areas of focus in the coming years from small startups to large scale corporations. We’ve already covered on CloudTweaks how Big Data can be utilized in a number of interesting ways from preventing world hunger to helping teams win…

5 Ways CIOs Can Tackle Cloud Fears

5 Ways CIOs Can Tackle Cloud Fears

5 Ways CIOs Can Tackle Cloud Fears  CIOs are tired of hearing about cloud computing concerns. They’ve spent years reading about how cloud resources are subject to risks, and wonder – what can they do to help people trust the cloud?  The truth is that despite being a hot issue for years, the topic of…

Recent

Cloud Infographic – Top Vulnerable Applications

Cloud Infographic – Top Vulnerable Applications

Top Vulnerable Applications  As you use the Internet on a daily basis, you probably come across cyber security topics, but rarely glance at them twice. After all, cyber security threats don’t concern you, right? Well, that’s not exactly true. Cyber attacks are more widespread than you can imagine and they may be targeting your devices as…

The Lighter Side Of The Cloud – Whatever Happened To Alone Time?

The Lighter Side Of The Cloud – Whatever Happened To Alone Time?

By David Fletcher Are you looking to supercharge your Newsletter, Powerpoint presentation, Social media campaign or Website? Our universally recognized tech related comics can help you. Contact us for information on our commercial licensing rates.  About Latest Posts Muz Latest posts by Muz (see all) Cloud Startup: Meteor To Speed Up Web App Development -…

MOST RECENT - Posted by
New Trends In Cloud Based Education

New Trends In Cloud Based Education

Cloud Based Education With technological progress accelerating and users’ computer experience becoming richer and increasingly complex, the future developments in education technology is very exciting. Students are now able to attend demonstration sessions on how to handle technology through remote laboratories using advanced applications in a truly interactive environment. One of these exciting areas is in telemedicine.…

The Many Hats Of Today’s IT Managers

The Many Hats Of Today’s IT Managers

The Many Hats of IT Managers In years past, the IT department of most large organizations was much like a version of Middle Earth: a mysterious nether world where people who seemed infinitely smarter than the rest of us bustled around, speaking and typing languages that appeared indecipherable, yet, which made our world work. They…

Selling Your Business To Your Employees

Selling Your Business To Your Employees

Mobility For Your Employees It may seem a radical notion, the idea of selling your business to the people who work for you, but this is the era in which we now work. Employees of all levels are all incredibly aware of their options when it comes to mobility and employability. This doesn’t mean that…

Technology Sponsors

hp Logo CityCloud-PoweredByOpenstack-Bluesquare_logo_100x100-01
cisco_logo_100x100 vmware citrix100
Site 24x7 200px-KPMG
Advertising ROI Plans

Established in 2009

CloudTweaks is recognized as one of the leading influencers in cloud computing, big data and internet of things (IoT) information. Our goal is to continue to build our growing information portal, by providing the best in-depth articles, interviews, event listings, whitepapers, infographics and much more.

CloudTweaks Comic Library

Advertising