100 million in 6 months: discover the successful debut of Kantox’s API
25 July 2016 · 2 min read
As the saying goes, actions speak louder than words. That’s why here at Kantox we prefer to focus on the facts rather than slogans. To live up to our ethos, we devote our resources to product development and innovation. In this regard, at the end of 2015, we launched our new API. This was initially rolled out for use by a group of beta clients. Just over half a year on, thousands of transactions have been completed through the API and the total amount traded with this technology has already broken through the $100 million barrier.
“Our clients were looking for solutions to boost efficiency and productivity by improving their management of their exchange rate risk, currency operations and international payments.”
Philippe Gelis, the fintech firm’s co-founder and CEO.
Kantox API is now available for all clients and can be integrated with their in-house systems in just a few days. Once this integration is complete, clients have full access to Kantox’s various core services – from spot trades to forwards, market orders and international payments – as well as to advanced products such as Dynamic Hedging and the Payments Hub.
But, what is an API?
The abbreviation is short for Application Programming Interface and, without going into the details, this technology allows developers to access external web services securely from in-house applications.
In practice, it allows them to be connected (sending and receiving information) to a web service without needing to interact with the main user interface (i.e. the normal website), whose design or features might be modified or updated independently.
What is Kantox API?
At Kantox, our goal is to gain efficiency through process automatization. In other words, those companies that need to frequently manage their FX exposure and/or process a high volume of international payments 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.
We have first-hand experience of managing the complexities associated with the launch of new products and solutions, especially regarding market acceptance and penetration. However, 6 months after the API launched, and with over $100 million exchanged through thousands of transactions, we are still convinced that our success will continue to be founded on one premise: making our clients’ lives easier.