global money transfer summit presentation

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FX and Settlements

Michael Laven, CEO

@currency_cloud

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Foreign Exchange costs too

much

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Global remittance flows about $400-$500B a year

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Global Import/export $30T/year 50 times larger <put in 1% savings of 30T here>

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What’s the problem?

Controlled by banks who run in fear of regulators

Old infrastructure that doesn't’t keep up with increasing flows

Regulatory overhead + old technology = high prices and bad services

Consumers and small business pay the price

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What’s the way out

Dramatically reduce cost

Take out friction

Increase transparency

<4th one?>

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The Currency Cloud

• Fixed cost--converting FX from brokerage to service

• Infrastructure for the next generation

• Basis points, not percentages

• FX everywhere—easy to integrate via API

• Full price transparency

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Sample of Our Customers

Hi-Volume Payments

100’s payments / day$100-$5,000

Local pay-out / pay-in

Hi-Value Payments

Customers Infrastructure End-Users

Client

Apps

API

1-10 payments / day$50k-$1m

SWIFT

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The Currency Cloud

• $4 Billion per year run-rate of payments

• Currently processing 10,000 payments/month growing to 50,000 in 2014

• 100 direct customer’s and 50,000 channel customers

• Global banking network

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Here’s the way to do all those things

New Money Transfer Companies

New Digital Platforms

New Partnerships

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“We make 1% of the value of each transaction, but if we get one transaction wrong it could cost us over $100m in lawyer fees and $1-2bn of lost

business. For ten bucks, who’s going to risk that?

Big banks have a role to play but it’s not bringing the people from a remote village into mainstream banking – that’s a job for another

type of institution. Regulation is against us, the market is against us, reality is against us.”

(Financial Services Club Blog, June 2010)

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Small businesses, the underbanked & underserved

need a new deal.