CrescoFin, the Swiss digital banking alternative, has partnered with Currencycloud, a leading provider of B2B embedded cross-border solutions, to integrate its multi-currency account infrastructure, Currencycloud Spark, into its expanded offering.
The integration of Currencycloud Spark will allow CrescoFin to accept up to 30 currencies and clients will be able to pay, collect and hold multiple currency accounts under one unique SWIFT IBAN, allowing seamless, simple access to CrescoFin’s core product, globally. In addition, customers will be able to convert at a time that suits them, rather than being forced to convert at point of sale or purchase, avoiding costly FX charges and converting when the market suits them.
In a global environment of low and negative interest rates, CrescoFin has developed a simple solution for institutions and individuals to achieve low-risk, insured returns without a long lock-up period – funds can be redeemed with just 30 days’ notice. The CINAP (CrescoFin INsured Asset Purchase) offers a return of 3% pa in USD.
Robert Sharratt, Managing Director and Co-founder of CrescoFin, commented: “We are delighted to be including Currencycloud into our offering. We can now welcome clients from around the world, seamlessly, in multiple currencies. In addition, we will be able to execute forward FX transactions in-house, to offer better rates to our global customers.”
Nick Cheetham, Chief Revenue Officer at Currencycloud, commented: “CrescoFin has introduced a new and novel way for individuals and institutions to generate a better return on deposits than a traditional bank would offer its customers. Currencycloud is fundamental to CrescoFin being able to expand its offering to new markets and we look forward to supporting their growth.”
The integration of Currencycloud is the first of several infrastructure improvements CrescoFin is making over the coming months, to develop a comprehensive and user-friendly line-up of digital banking services.