The platform is the culmination of a digital transformation project for Travelex under Finablr
London, 17th September 2019 - Travelex, a Finablr company and a market leading independent foreign exchange specialist, has today unveiled its new B2B fintech platform, Travelex Business. Travelex Business allows the company’s partners including banks, credit unions, retailers and digital technology companies, to access a broad range of payments and foreign exchange services in one place. The launch of the Travelex Business platform follows a four-year digital transformation project.
Travelex Business leverages the strengths of Finablr’s network and capabilities and combines it with a state-of-the-art cloud-based, API-led platform. The platform provides a seamless way for customers across mature and emerging markets to move money around the world. From cash management to cross border payments and retail currency conversion via APIs, Travelex Business addresses a wide range of enterprise and consumer needs with its omni-channel, multi-currency capabilities. For digital technology companies wanting to offer cross border payments services to their customers, services can be delivered as a white-label offering.
Travelex Business builds on Finablr’s global capabilities and includes three core product suites underpinned by a developer centre which allows customers to explore Travelex services
- Travelex Business Cash is a technology driven solution that allows end users to quickly and securely receive cash, by working with large banks, financial institutions and retailers. This solution features Cash Network and Cash Services, comprising a range of related white-label cash products, from travel money to wholesale banknotes.
- Travelex Business Pay is a cross-border payment platform serving enterprise customers including financial institutions and digital technology companies. It offers two modules, Pay Banking for banks and other financial services providers, and Pay Direct which serves consumers and organisations that need to transfer large amounts of money across borders quickly. Both offer a suite of APIs that enable seamless international money transfer for end customers.
- Travelex Business Cloud is the ideal solution for any business that offers foreign currency services to international customers. It provides a new way for business to financially benefit from international transactions made through mobile apps, ecommerce websites, Point of Sale terminals or ATMs. It includes advanced and flexible Multi-Currency-Processing, and Dynamic Currency Conversion, underpinned by a market leading Dynamic Exchange Rate Engine.
- Travelex Business Digital is a developer platform, that provides access to Travelex Business APIs so partners can embed capabilities and processes into their products and services.
Gareth Williams, Chief Product and Innovation Officer at Travelex comments:
“The platform is the culmination of years of hard work by Travelex and collaboration across the Finablr network. By revolutionising how we work, the technology we use, and the partners we work with, we have combined four decades of experience with a new microservices architecture to build a market-leading global fintech platform. Critically, working with Finablr, we have adopted a modern engineering culture with self-organising teams in order to create and iterate on a new and innovative suite of services.
“Not only does this allow Travelex to continually innovate and improve its products and services, but it gives our customers the services they need within one solution—and the developer centre means that our customers and prospects can experiment with our capabilities at their own convenience.
Travelex Business ensures companies get to market quicker, increase revenues and boost customer value with agile services available at the click of a button.”
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Headquartered in London, Travelex has a 140-year heritage in foreign currency, pioneering the travellers’ cheques of the past and the digital payments of the future. With a presence in over 70 countries, and over 1,200 stores at both on-airport and off-airport locations around the world, Travelex has distilled its expertise and experience into a platform that reinvents physical and digital cross-border money movement globally to ensure its clients remain one step ahead of the competition. The platform provides financial institutions with a trusted, efficient and accurate international money transfer service, plus secure and reliable banknote delivery of both major and exotic currencies.
A market leading independent foreign exchange specialist, the business covers the entire value chain of the retail foreign exchange industry. Travelex Group is also active in the remittances and payments space enabling physical and digital cross-border money movement for consumers and financial institutions.
Travelex is part of Finablr, a global platform for Payments and Foreign Exchange solutions. With deep regulatory know-how, technology expertise and industry leading partnerships, Finablr companies provide a broad array of tailored and trusted financial solutions for consumers and businesses. With a global reach spanning 170+ countries, Finablr companies processed over 150 million transactions in 2018, managing nearly USD 115 billion for customers.