did you know? 6 October 22

Security first, second and last. Regulation, always

By: Currencycloud
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Welcome to the third edition of our new blog series exploring Currencycloud products you might not know about.

In this edition, we are exploring some of the key security features and regulation coverage that Currencycloud provides, but you may not think about very often. We take protecting both you and your customers very seriously, allowing you to make bold moves for your business with full peace of mind.


The world is getting smaller when it comes to cross-border transactions. Open banking has opened the door to Fintech innovation, and the increase in digital transactions by consumers and businesses alike means money is flowing like never before. Yet this very speed can catch businesses off-guard when it comes to having the correct security measures in place. It’s why we want you to know that we’re doing all we can to keep yours, and your customers’ funds, as safe as possible.


Weak passwords are easy to guess and are a hacker’s dream. We provide all our clients two-factor authentication (2FA) to protect their funds. This second check minimizes security risks for you and your customers. Depending on how exactly you integrate with our tech, you will see this authentication being requested when you’re logging in, making a payment or when adding a new beneficiary.


Like an extra blanket, two factor authentication (2FA) gives that second layer of protection when accessing the Currencycloud platform.

  • A person’s username and password, “something you know”, acts as the first factor and is usually only known by the person logging into our platform.

  • In order to protect against a password being compromised, the second factor is a unique code, “something you have”, delivered to a registered personal device such as a smartphone or tablet to act as an additional security measure to confirm identity.

Security is of critical importance and a key concern for us and for you. Read more about the issues surrounding security in our recent blog about cross border payment security.

Your reputation is tied to your ability not only to keep your customers’ funds protected at all times, but also in how services are regulated and how global compliance standards are adhered to.

It doesn't just stop at security measures like 2FA. We apply the same type of scrutiny to countries and territories from where we can onboard and service our clients and their customers, as well as from where we can send and receive money.



Currencycloud is licensed in Australia, Canada, the Netherlands, the United Kingdom and the United States. Not only is the platform secure, but you can offer your customers more choice and opportunity to do business around the globe.

Here are two examples of how our regulations have helped our clients:

Helping an APAC Fintech expand into Europe

A well established APAC Fintech was looking to expand into the UK and Europe. However, they didn't know whether their brand would succeed in Europe and were hesitant about the time and cost it would take to obtain their own e-money licences.

By leveraging Currencycloud’s licences in the UK and Europe this client was able to rapidly achieve the global scale they desired. Because Currencycloud was handling their compliance, this client was able to fully focus on how to position their brand in their new jurisdiction.

Getting a UK and EU SME banking Fintech to market fast

A well-backed UK and EU Fintech focusing on SME banking wanted to accelerate their time to market. They didn't want to take on the potentially 12+ months work to obtain their own licences as well as the challenges of building out all areas of an effective compliance function.

They were able to leverage Currencycloud’s UK and EU licences to provide payment and e-money services to their customers via Currencycloud in a much shorter time frame than 12 months. They were able to demonstrate to their investors that they had a viable proposition.

The Fintech was also able to take advantage of our strong compliance function, knowing that Currencycloud’s compliance controls would help prevent any bad actors taking advantage of their product.

Working to increase your global offer 

We continually monitor the list of countries and territories associated with permitted jurisdictions where we are permitted to onboard our clients and their customers. Since our licences are expanding, it means that we can offer enhanced local services to both you and your customers. So in turn, you have the opportunity to do business in more countries and jurisdictions around the world. For example, we recently gained our Australian licence, allowing us to operate in Australia.

We work hard behind the scenes to safely and securely expand the number of countries where we can collect funds on behalf of you, as an approved client, and your end customers worldwide. There are currently more than 180 countries on the list, meaning you can safely expand your business globally and offer your customers an even better service.

By protecting flows and enabling the safe movement of money globally from permitted jurisdictions, we are continually able to improve our global offering, enabling faster local collections and payments for you and your customers, wherever you want to do business.

Each of these services is designed to back your bold. Find out how Currencycloud can help you stay one step ahead wherever you and your customers are doing business. Get in touch with an expert and start your more secure journey today.

By: Currencycloud
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