API: Turnkey Solutions
Enhance your foreign exchange and payment processes with Smart Online.
Processes often don’t keep up with the speed with which businesses evolve. Consequently, processes then get in the way of future growth. Smart technology allows you to fully automate your international payments.
Our most popular turnkey solutions
Scale through technology integration. As your business grows Smart want to work alongside and support your international trade. From speeding up delivery times and reducing operational burden, to eliminating human error and mitigating currency risk, there are a host of solutions that Smart Currency Business can provide you with.
To help you find a solution that matches your specific requirements, we always start by getting a full understanding of a business’s set-up and needs before we talk you through our solutions. These include:
1. Spot purchase –. Gives you the ability to buy spot currency. If you are sending funds internationally you’ll have a feed built into your business which will give you live currency rates. By pressing the ‘book’ button a contract is booked with Smart Currency Business instantaneously. When we receive your funds the payment is automatically processed. When doing a high volume of payments this will be indispensable.
2. Live rates – Get live currency rates for your specific currency pairs up to 60 currencies. This can feed into your own business and can be delivered as a web section or white-label solution. Businesses need up to date figures for accurate; budgeting, calculating, cash flow forecasting, conversion of sales invoices and purchases and more.
3. Forward purchase – Just like spot transactions, forward contracts can be booked with Smart Currency technology and back office. Just choose the currency cross, volume and length of hedge you require to protect your bottom line.
4. Spot and forward transaction – Offers both the functionality to send funds and automatically hedge any associated risk. This may be in the form of; lending, borrowing, investing etc. When there is a time delay between paying and a return of funds, this ensures the exact amount that is expected is returned no matter what happens in the currency markets.
5. Cross border payments – STP (Straight through processing) for international payments, receipts and sharing of beneficiary details.
6. Same-currency payments – Very few businesses purely make payments internationally, most will be paying in the same currency. To enable businesses to process all their transactions with a single provider, we offer same-currency transfers alongside the transfers with a foreign exchange element to them.
It’s straightforward to plug into your existing back office system. We provide the API solution and full implementation support.