Payments validation firm Apply Financial has collaborated with Currencycloud to eliminate the complexity of international payments.
Under the partnership, Currencycloud will integrate with Apply Financial’s Validate API.
The integration is said to facilitate Currencycloud’s beneficiary account validation service.
Apply Financial founder and CEO Mark Bradbury said: “We are delighted that CurrencyCloud selected Validate API, to intuitively guide, validate and enrich international bank payments at payment entry, allowing Currencycloud to further remove the complexity for their customers making international payments.
“Using the Validate API Self Service area, Currencycloud is able to go live with Validate API painlessly and as part of a rapid roll out.”
Apply Financial noted that its APIs will boost Currencycloud’s Straight Through Payments (STP) rates.
The APIs are also said to enable Currencycloud lower payment delays and failures, as well as adhere to changing regulatory norms.
Currencycloud senior product owner of payments Piers Marais said: “With one simple integration to Apply Financial’s API suite, Currencycloud has been able to extend and enhance its validation coverage in a matter of weeks.
“Customers will benefit immediately from our new partnership, seeing fewer payments held up in transit or returned back to them, and more payments landing more quickly into beneficiary accounts.”
Currencycloud was recently in the news for its tie-up with remittance firm WireBarley.
The alliance was aimed at supporting WireBarley’s expansion into the US.