New “neo bank”, Leatherback, has announced that it is poised to disrupt the financial services sector with its one account, multiple currency solution that allows businesses and individuals to conduct global transactions easily, quickly and securely.
In a statement, the company’s Founder and CEO, Ibrahim Toyeeb, said the introduction of Leatherback to the global market is underpinned by a desire to democratise banking and provide opportunities for borderless global trade and commerce.
According to him, “It’s no secret that emerging markets are the principal drivers of global growth. Given this reality – and the fact that the COVID-19 pandemic has imposed numerous restrictions on travel and commerce – Leatherback was formed to simplify global trade for people and operations everywhere, allowing them to seamlessly move money from one continent to the next.
“In this respect, Leatherback provides a much-needed solution for exporters and importers, immigrant-owned businesses, international students, the migrant population in general, tourists and multi-nationals with foreign operations that require financial solutions, payments or foreign exchange.Leatherback is inspired by the leatherback sea turtle, a nomadic creature that roams the seas from the northern regions of the arctic, to as far south as the pacific, without self-imposed restrictions to hinder its movements.”
“Like its namesake, the fintech operation is built on the same principles. It offers multi-currency accounts with the option to exchange currency instantly across multiple countries, including the United Kingdom, Canada, India, Nigeria, Egypt, Uganda, Tanzania, Angola, South Africa, the UAE, Denmark, Ghana and Côte d’Ivoire. The organisation enables clients to create local and foreign accounts to give them the option to remit funds across 40 countries, while businesses can invoice and collect directly in over 13 currencies.
“Notably, Leatherback is fully regulated by the FCA in the UK, Fintrac in Canada, the Central Bank of Nigeria and other regulatory authorities in the 13 countries it is licenced in. “Ensuring our users operate in a secure space is non-negotiable. The multi-layered cybersecurity measures we have deployed are aimed at safeguarding their money and providing them with peace of mind, ”Toyeeb said.
He added, “At the core of Leatherback is the ability to break down payment barriers, promote business expansion, remove barriers to business growth, and build a global digital payments infrastructure that harnesses the rise of digitisation.While it may seem implausible that users can set up accounts, make currency conversions and global payments within minutes, Leatherback has done just that.
“A zero-balance start-up fee and highly competitive rates provide further compelling reasons to join the Leatherback fold.While Leatherback allows for ease of making and receiving payments around the world, it also integrates invoicing and payroll services, tax management services, and revenue management.”
Leatherback, he added, “is a game-changer in the industry. By using Leatherback’s networks, account holders can spend abroad in the local currencies from the comfort of their offices or homes, at competitive exchange rates.
“Through its collections application programming interface (API), clients can accept money globally – in-store or online – from more customers, in their preferred countries, and in small or large volumes. In addition, trade finance unlocks working capital for short- and long-term business goals, business continuity and disaster recovery.”
“With its deep understanding of local markets and global finance, Leatherback’s main objective is to remove borders from transacting, so that people and businesses are encouraged to be ambitious and provide their services freely, making and collecting payments with ease around the world. “We believe in side-stepping convention to continuously find better ways to make things happen,” concludes Toyeeb.