GAT Investment Bank is launching a global banking app through its new partnership with London-based international payment solutions provider Currencycloud.
The Malaysia-headquartered investment banking, securities and investment management firm is leveraging Currencycloud’s tech to launch GAT Money, a new app offering “access to competitive FX rates and an extensive cross-border collections and payments network”.
The app will connect with Currencycloud’s multi-currency virtual accounts, enabling GAT to collect, convert, pay and manage funds for its “largely globally-focused client-base”.
The Currencycloud integration will extend GAT’s current collection capabilities beyond USD, EUR, CAD and GBP to 35 different currencies, with the additional benefit of real-time FX conversation and the ability to pay out locally to over 180 countries worldwide.
Jill Murray, director of GAT Investment Bank, describes Currencycloud as “a clear choice for us” as it looks to provide its customers with “the benefits of global banking”.
“Currencycloud’s local payout function has also enabled us to cater to smaller clients in more countries, giving them access to a global banking service that they otherwise wouldn’t have,” Murray adds.
On top of this, Currencycloud’s MD of APAC, Rohit Narang, explains how the integration will allow GAT to overcome the barriers faced by its importer and exporter clients, stating that “many need a cost-effective, near-instant way of making cross-border transactions”.
“GAT Money is the result of this understanding,” Narang adds.
GAT joins Currencycloud’s existing client base, which includes Truzo, Unit and Flutterwave.