To provide platform clients a greater ability to grow and be transparent with global payments, cloud banking company Mambu and B2B cross-border technology firm Currencycloud have joined forces with an integration, according to an announcement.
The combined technologies of the two companies let clients quickly put virtual accounts, collections, foreign exchange (FX) services and payments into place, the announcement states.
Currencycloud Head of Strategic Partnerships and Co-Founder Stephen Lemon said in the announcement, “This partnership between Currencycloud and Mambu really makes sense. We are both trying to help eliminate challenges for the same customers and provide them with banking-in-a-box capabilities. It is an exciting partnership as we develop our offering and continue to innovate together.”
The two companies, which have a common outlook for banking’s future, will provide technologies that are set up ahead of time that continue to grow speed to market, pliability and control. The technologies encompass “account-to-account collections and payments” in addition to card spend functions.
Mambu CTO/CPO Ben Goldin said in the announcement, “We are really excited to be working with Currencycloud to be able to offer our customers pre-configured solutions that will further increase their competitive advantage and bring that transparency to international payments.”
Mambu clients can harness the integration now, and Mambu and Currencycloud “intend to further innovate and develop their offering,” according to the announcement.
In April, news surfaced that Mambu would assist Tide, the business banking platform, in growing its offerings with the inclusion of releasing bigger overdrafts, invoice financing and credit cards. Tide also wanted to let members lend to other members with the help of certain new integrated technologies.
Tide particularly aimed to harness the partnership to focus on strengthening British small- and medium-sized businesses (SMBs). In recent times, Britain has experienced a rise in challenger banks geared toward small companies.