Currencycloud and Future FinTech Labs team up to launch Remittance Tempo app

  • Currencycloud has partnered with Future FinTech Labs (FTFT Labs) to help the New York-based fintech launch its Tempo app.
  • Tempo is designed to make it easier, safer and more efficient for American immigrants to send money abroad.
  • Acquired by Visa in 2021, Currencycloud has processed more than $100 billion in cross-border money transfers since its inception in 2012.

Global payment solutions and infrastructure company currency cloud has partnered with Future FinTech Labs (FTFT Labs) to help the New York-based fintech launch a new remittance solution for US-based immigrants. The new offering, an app called Tempowill help immigrants living in the United States send money securely to North America, Italy, Spain, France, Germany, United Kingdom, India and the Philippines.

Tempo will give FTFT Labs customers access to a multi-currency wallet that makes sending money internationally easier and more cost-effective compared to other high-fee money transfer services. Tempo app users will be able to take advantage of both FTFT Labs conversion tool to buy and exchange currencies and use FTFT Labs Funds feature to complement their digital portfolio.

“Tempo represents an easy, fast and secure way to transfer money overseas,” said Sean Liu, CEO of FTFT Labs. “Working with Currencycloud and utilizing the scope of services allows us to offer our customers a seamless process from start to finish. We are confident that we will be able to continue to make funds transfer a seamless process for our users. finals.”

Tempo users pay a $2.99 ​​pre-trade fee – although the company is currently offering customers free trades when they sign up. Transfers through Tempo happen instantly rather than the typical three business days of other money transfer apps, and users can send as little as $20 or up to $1,500. Tempo sees its transfer amount limit as an advantage over other money transfer apps that don’t have a limit, seeing the limit as a way to help ensure “a high level of security, through its design, for users”. The Tempo app is available for Android and iOS devices.

Debuting at Finovate in 2012, Currencycloud recently showcased its technology at FinovateSpring 2018. The London-based company serves banks, fintechs and currency brokers, helping them and their clients transact seamlessly and securely across borders in several currencies. Since its inception, Currencycloud has processed over $100 billion transferred between over 180 countries. Acquired by Visa in 2021, the company includes other Finovate alumni dwola and Mambu among its partners. Currencycloud has offices in New York, Amsterdam, Cardiff and Singapore.

“Migrants in the United States should be able to send money abroad without friction and without prohibitive costs,” said Lewis Nurcombe, vice president of sales at Currencycloud. “A fintech like Future FinTech Labs understands the needs of workers who want to send money to family and friends, and as such is successfully reinventing the way money flows for this huge market.”

Future FinTech Labs is a subsidiary and a research and development center of the FTFT group. FTFT Labs is dedicated to the design, development and provision of operational support for FTFT’s digital banking and payment service offerings.

Photo by Francesco Ungaro


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