Maximize Payments Efficiency and Meet Cross-Border Demand

Explore this case study to see how a global currency exchange raised straight-through processing rates while improving cross-border payments efficiency and controlling costs.

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Increase payments efficiency and improve global customer experiences

Payments Efficiency Hockey Player icing

Efficient payments experiences are integral to the success of Cashhome, a global currency exchange enabling customers to buy, sell and exchange currency online. Cashhome provides exchange services in 15 currencies and serves an international base of customers. The company’s rapid growth and ongoing expansion underscore the importance of optimizing Cashhome’s straight-through processing rates to help reduce demands on internal resources and ensure consistently excellent experiences for global customers.

Our case study details how Cashhome is integrating LexisNexis® Bankers Almanac® Validate into the payment setup flow of their website and mobile app to improve payments efficiency and increase straight-through processing rates.

Adding an API-based payment validation solution to correct and enhance payment instructions as the payment is taking place helps minimize disruptions to the customer experience by reducing failed payments. Bankers Almanac verifies payment details against the latest data and compliance rules covering more than 200 countries worldwide. The solution also automatically adds more details to payment instructions, including bank and counterparty bank details, payment routing information, payment network membership details and Standard Settlement Instructions. Integrating Bankers Almanac into their payments workflow helps Cashhome expedite payments and ensure payments are made on time, across multiple global regions.

The case study illustrates three benefits Bankers Almanac Validate delivers for Cashhome:

  • Seamless integration into the existing payments workflow allows Cashhome to validate payments details and prompt customers with required input fields and user notifications as the payment is taking place
  • Reducing failed payments helps improve overall operational and cost efficiencies and allows Cashhome’s teams to focus on higher strategic priorities
  • Providing customers with greater certainty that they entered payment details correctly helps reduce delays and failed payments and improves the overall payments experience

Explore the case study to find out more about how Cashhome is solving failed payments challenges, achieving higher straight-through processing rates and strengthening customer experiences with Bankers Almanac Validate.

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