Historically, businesses making high volumes of payments have to contend with a lack of payment visibility, unsubstantiated costs, manual processes and unreliable systems.

Currencies Direct have developed a new platform to address the pain points businesses are facing by streamlining and simplifying the process, while reducing costs for both the company sending the payments and any recipients.

The system will be able to process payment 100 times faster - with speeds increasing from 10 payments per minute to more than 1000 per minute.

The new batch payments online platform allows customers to schedule payment runs with increased certainty. Automated data validation also means that batch payments (including multiple payments in multiple currencies) can be checked prior to payment and processed at market-leading speeds with more clarity and accuracy.

“With our new platform, we’ve created a user experience that is smarter and simpler for the end user. By putting our customers at the heart of everything we do we have built a product that is designed with their needs in mind,” explains Hardik Shah, Group Head of Product at Currencies Direct.

“Businesses tell us they are looking for a seamless and transparent end to end process that removes manual process and human error. This new platform directly addresses those needs. For example, with our pre-payment data validation more payments go straight-through processing without human intervention.” explains Hardik Shah, Group Head of Product at Currencies Direct.

“At Currencies Direct, customer service is paramount. Therefore, as with all of our products, the new platform is supported by a dedicated account management team who are available to support customers. ” added Shah.