#None #Okoora #FX Infrastructure #DashDevs

Okoora and DashDevs Join Forces to Enhance FX Infrastructure

In a significant move set to reshape the landscape of financial technology, Okoora, an innovator in global foreign exchange (FX) infrastructure, has announced a strategic partnership with DashDevs, a prominent fintech product engineering firm. This collaboration aims to provide a seamless and effective solution for integrated foreign exchange functionality within digital financial tools.

The Collaboration Explained

Okoora's cutting-edge FX360 engine, which leverages artificial intelligence to offer real-time management of FX risks, liquidity routing, and execution of cross-border transactions, is ready to be integrated with DashDevs' extensive expertise in the end-to-end development of fintech products. By combining their capabilities, these two companies aim to deliver a streamlined pathway for fintech organizations to launch scalable products while incorporating built-in mechanisms for currency risk mitigation.

This partnership addresses a pressing issue many fintech startups and financial platforms face: the challenge of efficiently managing currency risk and cross-border payments on a larger scale. Traditionally, many companies opt for stiff bank systems, invest heavily in internal infrastructures, or postpone resolving FX issues until they escalate into significant business challenges.

Delivering Unique Solutions

The integration process involves DashDevs embedding Okoora's FX360 components directly into the backend of the fintech platforms it develops for its clients. Utilizing Okoora's robust application programming interfaces (APIs), DashDevs can incorporate essential features such as real-time exposure monitoring, automated hedging, and pay-in/pay-out functionalities into financial transaction processes. This functionality allows fintechs to eliminate the complexities associated with maintaining an intricate in-house treasury setup.

The joint approach offers several benefits:
1. Real-time FX Intelligence: Integrated right into core systems, ensuring swift access to critical information.
2. Automated Rate Optimization: Enhances liquidity routing processes seamlessly, running in the background to ensure optimal transactions.
3. Compliance and Scalability: Full adherence to regulatory requirements without imposing additional operational burdens on fintech companies.

Remarks from Leadership

Benjamin Avraham, CEO of Okoora, touched on the significance of this partnership, stating, “Joining forces with DashDevs has made the embedded FX infrastructure not only invisible but also essential. Financial service providers no longer have to choose between constructing intricate FX systems or depending on rigid banking solutions. Okoora imbues the FX360 engine with embedded intelligence, and DashDevs ensures its flawless deployment within their products. This collaboration yields a financial framework that diminishes currency risk, accelerates market entry, and permits service providers to offer institutional-level control without extra overhead.”

Igor Tomych, CEO of DashDevs, echoed these sentiments, saying, “The strength of embedded financing is directly tied to the infrastructure on which it stands. Our partnership with Okoora speeds the journey toward maturity in embedded financial solutions by breaking down barriers related to currency risk and cross-border transactional issues. By incorporating Okoora’s FX capabilities into our products, we empower fintechs to launch quickly, scale intelligently, and operate globally with assurance.”

About Okoora & DashDevs

Founded to empower businesses in managing cross-border operations with ease, Okoora has established itself as a pioneer in financial infrastructure. Its AI-driven platform encompasses risk management for FX, payments, wallets, and tools for embedded finance, minimizing currency exposure amidst fluctuating markets. Recognized as one of the top 250 fintechs globally by CNBC and Statista, Okoora serves diverse industries worldwide.

On the other hand, DashDevs has over 15 years of experience in supporting banks and fintech clients across the UK, US, EU, and MENA regions in developing premium financial solutions. They specialize in everything from minimum viable products (MVPs) to extensive enterprise platforms, reinforcing compliance while enabling rapid development and scalable solutions for fintechs, embedded finance, lending, Banking-as-a-Service (BaaS), and more.

This partnership between Okoora and DashDevs marks a significant step towards solving the challenges faced by fintech companies and sets the stage for a more integrated future of finance.