Finmo has launched a Business Account that lets SMEs manage their money and make international payments from one platform.

Businesses can collect payments in more than 45 currencies using local account details in their own name.

They can also hold over 27 currencies and send money to more than 195 countries and territories.

Finmo handles transactions under its own regulatory licences and through its payment partner network.

The account integrates with Finmo Treasury, which consolidates balances across multiple entities and banks and provides 13-week cash flow forecasts.

Finance teams can use the platform to identify funding gaps, move funds and convert currencies in real time.

“Businesses have usually had to choose between a provider that moves their money and software that shows them where it is.

Because Finmo holds the licences and partnerships to move money itself, the Business Account closes that gap. A company can see its position and act on it in one place, on infrastructure we operate.”

Other features include bulk payments, scheduled transfers, accounting integrations and approval controls.

Finmo holds 11 licences and regulatory permissions across eight markets, including a Major Payment Institution licence from the Monetary Authority of Singapore.

The Business Account is open for online applications, with Singapore-incorporated companies able to apply through MyInfo Business using Corppass and Singpass.

Featured image: Edited by Fintech News Singapore, based on image by Magnific

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