Case Study February 1, 2024

Capitex opens up a world of seamless international payments for professionals

Capitex was formed in 2018 to assist high net worth individuals and corporations and institutions with their commercial requirements to exchange currency. They are a regulated FX provider and recently partnered with Currencycloud as they moved into the regulated space.

Since its launch, Capitex has focused on eliminating risk to their customers in the international payments markets and helping them send and collect funds globally. Their mission from launch has been to enhance the way the world makes cross-border payments, making them as frictionless as possible.

EVOLVING AND INNOVATING

Today, Capitex is a fully authorized payments institution, regulated by the FCA, with over £1bn in transacted FX flow since 2019. They have recently launched the Capitex Partnerships Team to deliver exceptional, focused customer service, partnering with a network of professionals across wealth management, real estate, and sports sectors. Capitex delivers a regulated, trustworthy and reliable regulated FX solution for these sectors’ customers.

Capitex’s ethos is the same as Currencycloud’s: making cross-border money movement simple and seamless. But it was more than a common vision that would make Currencycloud the payment service partner of choice for Capitex. What was of critical importance to Capitex was that their chosen partner:

Could get them to market quickly, without sacrificing the speed of payments for its clients.
Would require technology that enabled them to provide services ranging from releasing payments at rapid speed on behalf of their clients, to allowing a client to access large liquidity pools for complex hedging requirements.
Would have tech that would be fully integrated into their internal workflow.

From discussions with Currencycloud’s API team, Capitex knew this criterion would be met and decided to partner with Currencycloud.

OPENING UP MORE OPPORTUNITIES FOR CAPITEX, AND ITS CLIENTS

The partnership with Currencycloud has accelerated Captex’s ability to quickly bring new innovative products to market – offering new services to existing clients, and opening doors to new ones. For example, they can now service a UK-based business who wants to receive money from a US customer like a local.

“Currencycloud provides the essential plumbing behind Capitex, enabling us to service our clients seamlessly. We can now access liquidity for our clients and use payment rails to send and collect funds globally; this all happens behind the scenes.”

Joe Edwards Managing Director and Co-founder, Capitex

Capitex have always been a forward-looking business. Its partnership with Currencycloud has enabled Capitex to bring innovative products to market and bring more value to their clients. Notes Joe Edwards, “Currencycloud is a leading Fintech that is constantly at the forefront of innovation in our market, strategically aligning ourselves with them allows Capitex to naturally grow and innovate with various developments that we see in the Fintech space”.

On top of that, Capitex has always put its clients and its clients’ customers at the heart of what they do. The partnership with Currencycloud has allowed these relationships to further thrive.

“Affiliates and referring partners share a common ground: they expect first-class customer service for their clients. Currencycloud’s embedded infrastructure underpins Capitex’s service, enabling us to develop relationships with our partners that we know are built on a solid base of trust and reliability: we know that our clients’ unique needs will be taken care of.”

Mimzee Brewer Director of Partnerships, Capitex

SHARING THE SAME COMPLIANCE VALUES

One of the main challenges most Fintechs face is building a compliance function that is fully integrated in every level of the business. Compliance plays a central role within Capitex: it is their duty as a regulated provider to eliminate money laundering and terrorist financing and to protect their clients against fraud. To that end, Capitex have built a compliance function they are proud of, and have synergy with Currencycloud around compliance, sharing the same rigorous values.

“I can definitely recommend Currencycloud as an ideal partner if you are a financial services business looking to enter into the regulated space. They are super nimble, super quick, they get it. They are constantly innovating, constantly staying in front of different trends, so I am confident that Capitex will be able to stay ahead of the innovation curve.”

Lew Moore Sales Director and Co-founder, Capitex

Speak with a payments expert

Start your borderless payments journey today.