This new solution is a collection of cash management features that optimize the cost and effort of global payments operations.

Announced at the 2022 Singapore Fintech Festival, Rapyd’s Treasury Solution allows businesses engaged in cross-border trade to simplify their global financial relationships. CFOs, treasurers and controllers can customize how they manage liquidity, balance currencies, and mitigate currency risk while enhancing their treasury hub in Singapore.

The multi-currency Treasury Solution enables international businesses to manage funds globally without the complexity, frustration and added expenses of managing multiple banking relationships, payment providers and funds flows across countries and currencies. It is well-suited to businesses of any size - from mature global enterprises that want to streamline treasury operations to finance professionals at emerging regional exporters who want to compete more effectively. By reducing the number and frequency of wire transfers needed, decreasing associated cross-border banking fees, offering competitive FX rates, and optimizing operations for fund collection and disbursement, businesses can achieve 70-90% lower costs than traditional methods.

A multi-currency Treasury Solution allows businesses to:
● Collect funds in over 100 countries, including:
○ Getting paid locally into Rapyd Virtual Accounts in 40+ countries and over 25 currencies without needing to open and manage multiple overseas bank accounts
○ Receiving instant bank transfers funds via local Real Time Payments systems including FAST, PayNow, and PromptPay
○ Other local collection methods include cards, eWallets, and more
● Concentrate funds by aggregating these from multiple accounts from across the globe into a central multi-currency account located in Singapore, supervised by the high standards of the MAS
● Disburse funds to suppliers, employees and partners in 190+ countries around the world from the same account, with Real Time Payments, Local ACH, and SWIFT and other local options, and
● Settle the remaining funds as fast as instantly to their local lead bank, enabling businesses to maximize credit and interest benefits, and maintain their core banking relationships

Key benefits of working with our Treasury Solution include:
● Gain instant same-day access to funds collected in Rapyd Virtual Accounts and viam Real-Time Payments to pay out immediately with Rapyd Disburse to capture supplier discounts, lower credit costs, and other financial benefits
● Optimize FX costs at the time of Collection, Disbursement and Settlement with real-time FX conversion and tight spreads
● Complement and grow core banking relationships, while reducing the number of secondary bank accounts required abroad; reducing the daily operational overhead and cost associated with collecting, paying out, and rebalancing funds

“CFOs and Treasurers are constantly faced with the complex and nerve-wracking challenge of simplifying their multiple banking relationships while ensuring they can get paid by customers and pay their suppliers, partners and staff abroad - which are the core pillars of enabling their businesses to expand their global reach,” says Joel Yarbrough, VP APAC and MD Rapyd Ventures.

“Now, merchants can build a payments hub within the Rapyd platform, while making their relationship with their lead bank stronger. Businesses in Singapore have been asking for a cohesive Treasury Solution for years, and the Rapyd team is pleased to be the first in the market to bring this game-changing solution to our clients in APAC.”