Business to business cross currency payment platform
Business Requirement
The requirement was to develop an application that allowed for business-to-business foreign currency and same-currency payments.
Our client is a UK-based FinTech start-up that aims to streamline the process of moving money around the world for businesses. The primary objective is to minimize the friction and cost of payments – same currency and across currencies.
Nuage Solution
Working closely with the client, our team of experts, developed a web-based application. We developed two applications – one for the back-end and one for the customer.
The back-end application included customer set-up, and user set-up with customizable roles, currency, and rules set-up along with the ability to perform treasury operations such as transaction monitoring and limits management.
The customer portal allows the corporate user to manage other users (based on role), create currency exchange or payment transactions, and view balances and transactions by currency. The payments follow the 4-eye principle. The portal also allowed the users to view and download reports.
For payments, the system supports AML checks and supports virtual accounts in multiple currencies for receiving payments.
The first release went live within 3 months of Nuage starting the work.
Technology Stack
Frontend: Angular
Backend: Python
Database: Postgres
Host server: AWS Cloud
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