A scalable platform in which both consumers and SME’S enjoy transacting via the feature-rich self-service customer front end managing accounts, placing forwards, limits and spot transactions.
Money service businesses have the flexibility to utilise pre-existing liquidity and payment relationships or to seek the best rates they can from banks.
Building a new International Payments and Currency Exchange platform internally is expensive and without guidance can go wrong. Add to that equation the cost of pulling staff away from their core duties. Cymonz software is ready to go out of the box or configurable in very little time.
Alternatively, Cymonz can provide an end-to-end solution giving money transfer operators the choice.
Integrate with liquidity and payment providers ensuring straight-through processing is maximised and back-office tasks and manual tasks are removed and risk is taken off the table with the ability to operate on a back to back transaction basis, so the money transfer operator can operate without FX exposure and risk.
Your customers can transfer currency at live market rates or set limit orders to be automatically monitored and executed. You set the currencies available, the margins (profit markup) charged and the hours clients can trade. Your customers are buying and selling currency, specifying payment details in a secure, efficient and competitive environment.
Customers can register for your currency exchange services online and access, view and provide any required compliance documentation. Our integrations with Netverify (c) allow your customer to easily provide identification requirements and our PEP databases ensure you are meeting compliance obligations. If you already hold the appropriate data for your client contact us to learn how you can bypass this process.
Get full control of the public pages you display to your clients and leads. Manage colours, logos, menus, pages available and all your content through our content management system along with selecting whether to display currency calculators to the public.
Allow customers to register for your currency service and process their registrations and compliance information. Once registered, control the customer's margins and markups, fees, settlement methods, users and view the full history for all customer accounts.
Our API allows you to integrate key currency functionality into your in-house or customer-facing applications, provide access to third party developers or even provide customers access to their account through the API. The REST based API provides functionality to create customer accounts, transact currency, manage beneficiaries and pull complete account history.
If you elect to not use automatic clearing on all client transactions you can manage your risk through your currency position sheets in real time. Positions are marked to market every thirty seconds and any new transactions are added in real time. Manage required liquidity through SWAPs and automatically close and transfer positions daily.
Cymonz integrates with PEP databases for automatic database name scanning. As PEP matches are made, compliance is alerted and matches can be processed within the application. Set matches as positive, false positive or suspend accounts and report to outside authorities if required. Set your risk management and suspicious transaction monitoring rules and allow your application to notify your compliance staff of any suspicious transactions.
Cymonz white label functionality provides you with the ability to easily and quickly launch white labels for your partners in a few minutes.