- New platform will allow organisational partners of Travelex to make cross border payments, retail currency transactions and more
- An innovative “developer centre” will help partners to experiment with features and find what they need
- “Travelex Business ensures companies get to market quicker, increase revenues and boost customer value with agile services available at the click of a button”, said Travelex spokesperson
Foreign exchange provider Travelex has announced that it will set up a new business to business platform.
Travelex, which is owned by financial services holding company Finablr, will create a new suite of tools designed to make doing business easier for its partner organisations.
These include a range of organisations, such as credit unions, banks, merchants and others who work with Travelex to enhance their own product offerings.
The new tools will be what is known in the industry as API-led. API stands for application programming interface and is a way for certain pieces of technology to be integrated with others and create seamless digital communication and reduce the potential for mistakes and errors.
The new platform will, for example, allow the partner organisations to make cross border payments more easily.
It will also permit partners to place speedy and efficient retail currency conversation orders, as well as ensure that their cash flow is well managed while doing so.
Unusually, the new set of tools will include what is being described by Travelex as a “developer centre”.
This particular tool is expected to allow companies who partner with Travelex to be flexible, and to allow their own in-house coders and developers to pick and choose which parts of the tool they want to use.
It will be possible for partners to work with this developer centre on their own terms.
The move comes after Travelex, an online money transfer company headquartered in London, embarked on a four year digital transformational strategy.
In a statement, Gareth Williams – who serves as chief product and innovation officer at Travelex – said that the new tools would mean partners could “get to market quicker”.
He also highlighted the work of Finablr in making the new developments possible.
“Critically, working with Finablr, we have adopted a modern engineering culture with self-organizing teams in order to create and iterate on a new and innovative suite of services”, he said.
“Not only does this allow Travelex to continually innovate and improve its products and services, but it gives our customers the services they need within one solution—and the developer center means that our customers and prospects can experiment with our capabilities at their own convenience.
“Travelex Business ensures companies get to market quicker, increase revenues and boost customer value with agile services available at the click of a button”, he added.
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