By Zachy Hennessey
A Swiss-Israeli fintech start-up, Okoora has introduced its new artificial intelligence-driven platform, Automatic Business Currency Management, which aims to simplify global payments, banking and risk management, offering businesses a comprehensive solution to navigate the challenges of the international marketplace. By integrating operational tools, currency risk management modules, and access to a wide network of banks and trading rooms, ABCM seeks to streamline currency operations and empower businesses of all sizes.
Okoora’s platform utilizes advanced AI technology to provide real-time insights into currency markets, streamline currency management, and offer AI-driven risk mitigation. The platform’s unified command center enables businesses to manage their foreign currency cash flow, facilitating fee-less global payments across more than 100 currencies worldwide.
Since its launch in January 2022, Okoora has experienced significant growth, attracting over 7,000 enterprises and small-to-medium-sized businesses as customers. The platform has processed tens of thousands of transactions, amounting to billions of dollars. Notably, all customers acquired in 2022 have renewed their ABCM licenses for 2023, indicating high levels of customer satisfaction and the platform’s effectiveness.
How will the Swiss-Israeli fintech start-up Okoora expand?
Looking ahead, Okoora has ambitious plans for expansion and innovation. The company aims to enhance the platform’s functionality by introducing new services and expanding the range of supported currencies. Additionally, it has entered the field of Banking as a Service, forging strategic partnerships with foreign financial institutions and Israeli organizations. This collaboration allows millions of end customers to leverage Okoora’s solutions within their existing financial infrastructure.
In a bid to expand its market presence, Okoora has submitted license applications in multiple European countries. This strategic move aims to accelerate its entry into new markets and foster collaborations with financial organizations and businesses across Europe, positioning it as a global player in the fintech industry.
CEO and founder of Okoora, Benjamin Avraham emphasized the company’s mission to simplify global currency operations and instill confidence in businesses worldwide. “Our advanced AI-based risk management system continuously analyzes customers’ activities, unique characteristics, and the business environment. This, combined with tailored alerts and recommendations, has led to significant financial gains for Israeli businesses, totaling billions of shekels,” he said.
“Building on this success, we now aim to expand our unparalleled technological solution to organizations throughout Europe,” he continued. “As CEO and founder, I am committed to making currency risk management accessible and seamless, empowering millions of businesses to thrive in the global marketplace.”
