- Currencycloud teamed up with Future FinTech Labs (FTFT Labs) to assist the New York Metropolis-based fintech launch its Tempo app.
- Tempo is designed to make it simpler, safer and more practical for U.S. immigrants to ship cash abroad.
- Acquired by Visa in 2021, Currencycloud has processed greater than $100 billion in cross-border cash transfers since inception in 2012.
International funds options and infrastructure firm Currencycloud has partnered with Future FinTech Labs (FTFT Labs) to assist the NYC-based fintech launch a brand new remittance resolution for U.S.-based immigrants. The brand new providing, an app referred to as Tempo, will assist immigrants residing within the U.S. ship cash securely to North America, Italy, Spain, France, Germany, the UK, India, and the Philippines.
Tempo will offers FTFT Labs clients entry to a multi-currency pockets that makes sending cash internationally simpler and cheaper in comparison with different high-fee remittance providers. Tempo app customers will have the ability to leverage each FTFT Labs’ Conversion Software to purchase and commerce currencies and use FTFT Labs’ Funds characteristic to high off their digital pockets.
“Tempo represents a simple, quick, and safe strategy to switch cash cross-border,” FTFT Labs CEO Sean Liu stated. “Working with Currencycloud and utilizing the breadth of providers it permits us to supply our clients a seamless course of from begin to end. We’re assured we will proceed to make remittance a seamless course of for our finish customers.”
Tempo customers pay a charge of $2.99 pre-transaction – though the corporate is at present providing clients fee-free transactions after they join. Transfers by way of Tempo happen immediately slightly than over the three enterprise days typical of different cash switch apps, and customers can ship as little as $20 or as a lot as $1,500. Tempo sees its switch quantity restrict as a bonus in comparison with different cash switch apps that would not have a restrict, seeing the restrict as a manner to assist guarantee “a excessive stage of safety, by design, for customers.” The Tempo app is accessible for each Android and iOs units.
Making its Finovate debut in 2012, Currencycloud most not too long ago demonstrated its know-how at FinovateSpring 2018. The London-based firm serves banks, fintechs, and international alternate brokerages, serving to them and their clients make seamless and safe cross-border transactions in a number of currencies. Since inception, Currencycloud has processed greater than $100 billion transferred between greater than 180 nations. Acquired by Visa in 2021, the corporate contains fellow Finovate alums Dwolla and Mambu amongst its companions. Currencycloud maintains workplaces in New York, Amsterdam, Cardiff, and Singapore.
“Migrants within the U.S. ought to have the ability to ship cash cross-border with out friction and with out prohibitive prices,” Currencycloud VP of Gross sales Lewis Nurcombe stated. “A fintech like Future FinTech Labs understands the wants of working individuals desirous to ship cash to household and mates, and as such is efficiently reimagining how cash flows for this enormous market.”
Future FinTech Labs is a subsidiary and analysis and growth heart for FTFT Group. FTFT Labs is devoted to designing, creating, and offering operational help for FTFT’s digital banking and fee providers choices.
Picture by Francesco Ungaro