BankClarity taps Moneycorp for 120 FX live market rates from 14 partner banks

Rick Steves

“Moneycorp’s API complements our existing suite of banking and FX partners and ensures we continue to bring harmony and efficiency to every aspect of the activity surrounding the administration of complex cross-border transactions.”

BankClarity, a provider of banking technology to non-bank financial institutions, has tapped Moneycorp’s API integration in order to deliver new access to 120 currencies with live market rates.

This will allow BankClarity’s clients to achieve more competitive foreign exchange and straight-through processing (STP) of cross-border payments.

The partnership is believed to benefit global providers of administration services to international corporations, trusts, and funds.

Live market rates from 14 Moneycorp partner banks

Clients will leverage Moneycorp’s API integration to access live market rates, aggregated from 14 Moneycorp partner banks. This will enhance BankClarity’s existing suite of banking and FX partners.

Moneycorp’s payments API provides building blocks for safer, speedier and more secure global payments. Moreover, their optimized network minimizes payment processing delays and failures, further streamlining payment services through BankClarity.

Francesco Giovanni Ghizzardi, Head of Payments Solutions of Moneycorp, said: “As two progressive businesses with a relentless focus on solving client needs, it’s brilliant to see our partnership with BankClarity flourish. Implementing Moneycorp’s expertly engineered payments API will streamline foreign exchange and cross-border payments for BankClarity’s clients. Our highly valued expertise means that BankClarity clients will have the best service on offer, and we know it will provide efficiency, powering growth at every stage.”

Aidan McAvinue, Chief Executive of BankClarity, commented: “Partnering with Moneycorp is an incredibly powerful development for our clients and significantly enhances our offering across leading clearing banks and third-party providers, with a range of booking centres and payment solutions. Moneycorp’s API complements our existing suite of banking and FX partners and ensures we continue to bring harmony and efficiency to every aspect of the activity surrounding the administration of complex cross-border transactions.”

Moneycorp launched FX solution for crypto exchanges

Moneycorp is a global foreign exchange and payments provider with over £38bn of trades across 120 currencies. The firm is now targeting crypto exchanges by launching a Foreign Exchange Liquidity Management solution for providers of digital asset exchanges (DAXs).

The FX liquidity management solution provided by Moneycorp sources liquidity from 16 LPs and makes use of its suite of APIs to ensure clients can execute payments anywhere in the world. The aim is to offer “operational excellence, agility, and business growth to DAXs providers”, the firm stated.

Moneycorp is a subsidiary of Bridgepoint after being acquired in 2014 for £212 million. The firm then expanded internationally by obtaining Money Service Business licenses across Spain, Romania, and the United States. Moneycorp also obtained banking licenses in Brazil and Gibraltar as well as Hong Kong and Canada.

Read this next

Digital Assets

Valkyrie pulls back on Ether futures merge with Bitcoin ETF

Valkyrie Funds LLC will suspend the purchase of Ether (ETH) futures contracts for its Valkyrie Bitcoin and Ether Strategy ETF (BTF.O). Additionally, the firm will unwind any positions in Ethereum that it has already acquired.  

Digital Assets

Hong Kong police arrest 18 in $1.5B billion JPEX fraud

The investigation into the JPEX crypto exchange scandal continues to unfold as Hong Kong and Macau police arrest four more individuals. These arrests, which include individuals considered “relatively close to the core” of the scandal, bring the total number of detentions to 18.

Digital Assets

Gemini tells Dutch users to withdraw assets by November 17

Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, announced that it will cease providing services to customers in the Netherlands, citing regulatory requirements imposed by the country’s central bank.

Digital Assets

SEC puts BlackRock, Valkyrie, and Bitwise Bitcoin ETFs on hold

The U.S. Securities and Exchange Commission has delayed its decisions on several bitcoin exchange-traded fund (ETF) proposals, leaving many in the crypto industry feeling pessimistic for any future blessing from the agency.

Digital Assets

Ripple backs out of Fortress Trust acquisition

Ripple has decided to cancel its planned acquisition of Fortress Trust, a custodian company, less than a month after initially announcing the agreement.


France regulators blacklists 21 FX brokers, FuturBTC

France’s financial markets regulator, the Autorité des Marchés Financiers (AMF), today shed light on several unregulated forex brokers representing their offering under several brands. Notably, the AMF has identified only one crypto-assets provider in its latest warning.  

Digital Assets

Flare and Arkham Collaborate for Enhanced Decentralized Data Access

Flare’s blockchain for decentralized data acquisition integrates with Arkham’s Intelligence Platform, offering users advanced analytics and actionable on-chain insights.

Industry News

iFX EXPO International 2023 Successfully Concludes

The most talked about financial event of the year took place in Limassol, Cyprus.

Retail FX

Plus500 Forex Garners Market Attention In The Latest Expert Ranking

Securing the 58th spot in Traders Union’s Best Forex Brokers of 2023 ranking, Plus500, despite its cautionary overall score of 6.3 out of 10, stands out for its stringent regulatory compliance, user-centric WebTrader platform, and a commendable focus on account security, though it lags in providing advanced trading tools and trust management features.