ONPEX and Supercapital Partner to Deliver Seamless and Secure International Payments
Press Release: ONPEX partnership announcement with international UK-based Wholesale Fintech Supercapital
Munich, Germany, 24th September 2018 – ONPEX, a leading provider for multi-currency IBAN accounts, has partnered with international UK-based wholesale fintech, Supercapital, in an alliance set to make international payments seamless and secure.
Supercapital provides money transfers to bank accounts across 200 countries and in 25 different currencies. To support its ongoing business activity in local and cross-border bank transfers for personal and corporate customers – including FX brokers, Supercapital required a partner. With the business undergoing strong growth, there was a need to replace existing systems with a solution which offered automatic settlement reconciliation.
This new partnership will supply Supercapital with the solution it needs for ensuring funds to be uniquely identified. ONPEX’s Banking-as-a-Service (BaaS) and IBAN accounts provide the means for this solution. Supercapital has integrated BaaS via ONPEX’s flexible API technology, and as a result is able to assign unique IBANs to each customer.
With ONPEX’s solution, Supercapital is now delivering real-time, automated processing at a lower cost and risk – guaranteeing a seamless experience for its customers by eliminating the need for unique references, which can be time-consuming and prone to human error.
What’s more, as a CSSF regulated payment institution, ONPEX allows Supercapital to operate in an environment compliant with their own regulatory requirements by the FCA. All necessary regulation requirements are covered by ONPEX’s BaaS, ensuring customer peace of mind and security.
Speaking about the new alliance, Christoph Tutsch, CEO at ONPEX, explained: “With the pain points still associated with cross-border payments, companies need a universal solution. Before our partnership, Supercapital’s system caused friction for its users, with an obligatory reference number required for each payment. As this could not be automated, the entire transaction process did not meet the expectations of modern day customers. With our support, and product offering, we enable Supercapital to eliminate the strains which previously caused them to underperform.”
Joel Smalley, Managing Director at Supercapital, continues: “We chose to partner with ONPEX because of the business’ ability to solve our ongoing reconciliation problem. To continue to compete on an international level it was essential for us to resolve these issues for our customers. ONPEX has allowed us to automate our process which in turn, has increased speed, security and customer satisfaction. It was key for us to partner with a company that understood our business and that shares the same forward thinking financial solutions. Both businesses recognise the challenges and opportunities in the transaction banking marketplace, the benefits of process automation and API integration – that’s why we chose to work with ONPEX.”
To find out more about ONPEX’s revolutionary multi-currency IBAN accounts, visit www.onpex.com.
– ENDS –
Notes to Editor
ONPEX helps businesses build their own financial services. We provide multi-currency IBAN accounts, FX, local and global transfers, and ePayments powered by open APIs to create simple, compliant, and cost-efficient payment and banking solutions.
Maximilian P. Nenning
Senior Account Executive
+44 (0)330 043 1315