Helping Azimo send money around the world

Established in 2012, Azimo is a low-cost, fast and safe way to send money around the world. With several services including cash pick-up, bank transfer, mobile airtime top-up and mobile wallet, customers can send money to more than 195 countries in just a few clicks.

We have a super fantastic working relationship with the whole Currencycloud team. They are always on call whenever we need them. I’d strongly recommend Currencycloud to any company that needs a one-stop-shop solution for B2B international pay-outs that are low cost, good quality, streamlined and optimised.
Marta Krupinska, GM & Co-Founder, Azimo

Challenge

Azimo set itself the ambitious goal of creating the largest digital network for international payments. In doing so, the team aimed to challenge the way legacy players such as Western Union typically enable workers to send money and create a faster, more streamlined, cost-effective alternative.

To achieve this, the team required a strategic partnership with a payments platform that would enable Azimo to trade across multiple currencies, settle internationally and simultaneously process pay-outs.

It was clear to the Azimo team from the beginning that this partner would need to be a fellow Fintech player – a company that ‘gets’ the space and shares the same goal of introducing positive change into the finance sector. Currencycloud was therefore the obvious choice.

Partnership

Slick integration with the first phase of the Payment Engine, followed by the updated Payment Engine Two, three years later, has provided Azimo with:

A cost-effective solution

With Azimo promising low-cost transactions to customers, the team couldn’t afford to have margins stretched by providers with large, growing fees.

Working capital management

The introduction of Cash Manager has enabled Azimo to deal with issues such as the reconciliation of bounced payments – crucial for any payments enterprise.

Automation

In order to provide the streamlined, simple, fast solution that marked them out from traditional providers, complete automation of all processes was key.

Compliance covered

Risk and compliance matters are always front of mind for a financial enterprise. Thanks to the close relationship established between Azimo and the full Currencycloud compliance and technical team, Azimo had peace of mind since inception.

Results

Tangible growth

Within six months of launching with Currencycloud, Azimo connected 6 million new customers – an achievement the team credits to the strong working partnership and commitment to the same goals, which they share with Currencycloud.