Fintech Firm Kantox Processes $100 Million in Six Months

Kantox, a fintech company offering FX management solutions, has announced that it has processed $100 million worth of transactions in just six months through the company’s unique API, taking the company's total transaction volume to over $3.2 billion since its launch in 2011.

Finance Magnates last reported on Kantox back in September, 2015 when the company reached over $2 billion in total transactions on its platform.

Kantox API

Kantox, which launched its API beta in late 2015, provides online hedging and Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term services in 34 currencies across 103 countries. With global economic volatility on the increase, strict FX management is vital to ensuring the stability of international enterprises.

Kantox delivers added value by offering headache-free automation of currency management and execution of customised FX rate hedging strategies.

Firms that need to frequently manage their FX exposure or process a high volume of international Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term can integrate Kantox API with their enterprise resource planning (ERP) software or treasury management system (TMS) to automate each and every one of their transactions.

This integration provides benefits not only in terms of efficiency, with fewer hours spent on low-value-added tasks, but also by eliminating the mistakes that commonly occur when data is entered manually.

Philippe Gelis, co-founder and CEO of Kantox, explained: “Kantox delivers genuine added value by offering finance departments headache-free automation of currency management and execution of customised FX rate hedging strategies”.

Following its successful beta launch, Kantox is now set to release the API to its customer base of over 2,000 small, mid-cap and large enterprises who will have access to the full range of services available via the API.

These include spot and forward transactions, market orders, international payments, and the recently-launched Payments Hub, through which clients can make one sole transfer in a single currency to Kantox and have funds dispatched to numerous beneficiaries in multiple currencies.