Be bold with your cross border transactions
Currencycloud Spark integrates international and local clearing into your payments and FX platform, enabling you to build the international banking experience your customers deserve. Unlike other banking service providers, Spark works in the background while you own the customer relationship and user experience. Turn international receivables and payments into a revenue opportunity; not a cost centre.
Spark features at a glance
A trusted enterprise platform that will get you to market quickly via our cloud-native, API-driven technology.
Named Customer Accounts
Unique multi-currency accounts in your customer’s name. Receive, convert and payout funds — from anyone, to anyone.
Flexible Receivables and Payments
Receive and send funds in 32+ currencies via SWIFT and send funds in up to 18 currencies local currencies.
Reduce Costs Through Automation
All funds are automatically screened and reconciled removing manual processes, saving time and money.
Control the Experience
You own the relationship, experience and pricing. Our technology works seamlessly in the background.
Benefits of Using Spark
Easily create multi-currency accounts around the world giving your customers total flexibility in how they manage their international payment flows with their customers.
How it works
Let’s take a look at a typical use case. Your client is based in the US, selling goods and services to customers in the UK.
1. Raise an invoice
Your client wants to invoice their customer in Dollars (USD), but their customer wants to pay in Pounds (GBP).
2. Get a named account
You provide your client with a unique, named GBP account via Currencycloud.
3. Send account details
Your client passes these account details to their customer, who pays GBP into your clients unique GBP account.
4. Receive a payment
Within hours, the payment is received, converted into USD and your client receives a payment from Currencycloud in Dollars.
5. EASY RECONCILIATION
The balance reconciles with the invoice and it’s a win-win for everyone!
Proven Results
Currencycloud Spark allows Fintechs and Financial Institutions to easily create accounts for their customers to receive, pay-out, and move multiple currencies at their convenience. With a unique international bank account number (IBAN) issuable in 33 currencies, your customers get one multi-currency wallet in their own name.
STARLING BANK
GIVEN STARLING BANK AND CURRENCYCLOUD’S LONG RELATIONSHIP, IT’S NO SURPRISE THAT STARLING WAS AN EARLY BENEFICIARY OF SPARK. AS PART OF THE PILOT PROGRAMME, STARLING HAS BEEN OFFERING BUSINESS CUSTOMERS THE OPPORTUNITY TO HOLD BOTH USD AND GBP ACCOUNTS.
