Fortu Wealth, a UK-based fintech that provides an all-in-one personal finance platform for high-net-worth individuals and a B2B banking-as-a-service (BaaS) solution for private banks and wealth managers, announced on Monday it has formed a new partnership with Currencycloud, a provider of B2B embedded cross-border solutions, to allow its clients to make multi-currency payments globally through its Currencycloud Spark solution.
Fortu reported that through the partnership its customers now gain access to leading foreign exchange rates, international payments in all major currencies, as well as the provision of virtual IBANs through Currencycloud Spark.
“The partnership represents the latest development on Fortu’s journey to revolutionize the worlds of private banking and wealth management. In a sector fraught with inertia, Fortu has created a groundbreaking all-in-one financial solution which meets the everchanging needs of the busy UHNWI millennial, signing up Swiss Banking Group as a pilot customer for their BaaS product.”
Fortu co-founder and CEO, Azamat Sultanov, spoke about the partnership by stating:
“For too long, our customers have had to deal with slow legacy technology and an outdated approach when it came to making international payments. The partnership will allow all Fortu users to be truly global in their approach, making cross-border payments seamlessly.”
Nick Cheetham, Chief Revenue Officer at Currencycloud, added:
“Private banking has been the reserve of a select few traditional names, but Fortu is changing the dynamic of the industry and appealing to a broader, digital audience that has been under-served by traditional institutions. We are thrilled to be working with Fortu to help deliver a 21st century solution for their customers.”
Founded in 2019, Fortu describes itself as a fintech project developed by asset managers with more than 15 years of experience in private banking, with extensive knowledge and experience in compliance and risk mitigation, insight into issues of the banking sector and regulatory trends, and a strong UHNWI client base.