TransferMate, a cross-border payments provider, is shaking up the world finance space by simplifying global money flow. With over 140 currencies covered and over 100 licenses in jurisdictions globally, the company has emerged as one of the top infrastructure partners for businesses making international payments.

In an interview with FinTech Magazine, CEO Gary Conroy discussed how TransferMate's regulatory-first approach, combined with its API-led architecture, provides frictionless and secure payment capability to clients worldwide.

Multi-Jurisdictional Licensing Ensures Safety

Being a cross-border payments provider, TransferMate's real strength is in its regulatory depth. With regulatory oversight by more than 100 regulators around the world, TransferMate has developed an infrastructure that has compliance, security, and transparency in its DNA.

"We have over a hundred regulators and they're reviewing everything we're doing to ensure that we're adhering to the robust processes that are in place," CEO Gary Conroy said.

TransferMate's regulatory strategy includes strong safeguarding measures that keep client money ring-fenced in separate accounts. This means that in the worst-case scenarios, customer funds are more secure from operational risk.

"That is a way of keeping customer funds segregated so that if something ever did occur to us, our customer funds would be safe," Conroy said.

This multi-tiered system involves oversight not just from regulators but also from third-party auditors and banking counterparties. This integrated system ensures consistency and compliance in all avenues of operations.

Building Embedded Payments with API-First Design

At the heart of TransferMate's success as a cross-border payments provider is its solid technical infrastructure. TransferMate was API-first in its development from an incredibly early stage, allowing businesses to integrate cross-border payments into their own platforms.

This API-centric architecture offers seamless integration for clients with cross-border payment needs. The platform can store 30 currencies of stored value, enabling businesses to receive and store funds locally and do business internationally.

As Conroy describes it, "We've begun from the beginning with APIs supporting embedded payments, and we've layered on top of that stored value accounts so customers can issue accounts denominated in local currency in other jurisdictions."

Innovative Business Tools for Flexibility

TransferMate keeps adapting to fulfil emerging user requirements. Its new features enable customers to receive same-currency cross-border wire transfers in cash and lock in competitive exchange rates before payment. These features are crucial for companies that trade in fluctuating FX markets.

Funding flexibility is the firm's other major area of focus at present. TransferMate has existing prepayment facilities, reverse wire processes, and direct debit arrangements. Its future plans include "push-to-card" payments and further developing more sophisticated payment initiation services, with the aim of giving businesses further control over their cash flow.

“We're building onto payments initiation in that as well. And so, we have a lot of very interesting things in the roadmap that we'll continue to push," Conroy said.

A Scalable, Secure Cross-Border Payments Provider

With its focus on compliance, innovation, and client-driven development, TransferMate remains a pioneer in cross-border payments provider. Its integration of safe multi-jurisdictional operations and adaptable payment solutions makes the company an ideal partner for international businesses.

By setting both technical innovation and regulatory strength at the center of its approach, TransferMate is not merely coping with the intricacy of cross-border payments — it is redefining it.

As global commerce becomes increasingly digital and decentralized, TransferMate's API-first approach and strong compliance platform may be the model for the future generation of cross-border payments firms.