Moneycorp, the global foreign exchange and payments provider with over £38bn of trades across 120 currencies, has implemented an API and distribution agreement with BankClarity, the leading banking technology provider to non-bank financial institutions.

The partnership means that BankClarity’s clients can now achieve more competitive foreign exchange and straight-through processing (STP) of cross-border payments, using cutting-edge API technology and global payments solutions. Clients will be able to access live market rates, aggregated from 14 Moneycorp partner banks. This will enhance BankClarity’s existing suite of banking and FX partners.

Moneycorp’s payments API provides the building blocks for safer, speedier and more secure global payments. Moreover, their optimised network minimises payment processing delays and failures, further streamlining payment services through BankClarity.

Specifically, the agreement will hugely benefit global providers of administration services to international corporations, trusts and funds.

Francesco Giovanni Ghizzardi, Head of Payments Solutions of Moneycorp, comments:

“As two progressive businesses with a relentless focus on solving client needs, it’s brilliant to see our partnership with BankClarity flourish. Implementing Moneycorp’s expertly engineered payments API will streamline foreign exchange and cross-border payments for BankClarity’s clients. Our highly valued expertise means that BankClarity clients will have the best service on offer, and we know it will provide efficiency, powering growth at every stage.”

Aidan McAvinue, Chief Executive of BankClarity, comments:

“Partnering with Moneycorp is an incredibly powerful development for our clients and significantly enhances our offering across leading clearing banks and third-party providers, with a range of booking centres and payment solutions. Moneycorp’s API complements our existing suite of banking and FX partners and ensures we continue to bring harmony and efficiency to every aspect of the activity surrounding the administration of complex cross-border transactions.”