020 7898 0500Popular API Solutions
Use Smart Currency’s APIs to automate your business and your customer’s foreign exchange payment processes. Embedding Smart Currency’s technology allows you to securely extend your international payments capability and reduce foreign currency exchange risk.
Our most popular API solutions
Scale through technology integration. As your business grows Smart will work alongside and support your international trade strategy. 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.
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, by using the Trade Management APIs, a contract can be instantly booked with Smart Currency Business. When we receive your funds, the payment is automatically processed. This functionality is key for your business to handle a high volume of payments.
2. Spot and forward rates – you can receive live currency rates for the specific currency pairs that you would like to trade.
3. Forward purchase – in a similar way to booking spot transactions, forward contracts can be booked using Smart Currency’s API technology. Just choose the currency cross, volume and length of hedge you require to manage your foreign currency risk. The combination of spot and forward transactions can be automated through the Trade Management APIs to send funds and hedge any associated risk. When there is a delay between paying and receipt of funds, this functionality ensures you receive the expected amount, no matter what happens in the currency markets.
4. Cross border payments – STP (Straight Through Processing) for international payments, receipts and sharing of beneficiary details.
5. Same-currency payments – few businesses only make foreign currency payments and most do require same-currency payments. To enable businesses to process all their transactions with a single provider, we offer same-currency transfers alongside the transfers requiring foreign exchange. Our APIs are designed to be straightforward to use with your existing back-office system, and we provide the API solutions and full implementation support. Smart Currency’s APIs are based on REST Architecture principles and this capability has been developed in-house.
