Swiss-Israeli fintech startup Okoora: signing cooperation agreement with the credit card company Max

The Swiss-Israeli fintech startup Okoora announced the signing of a cooperation agreement with the credit card company Max. The collaboration aims to revolutionize the field of foreign exchange through a wider range of solutions that break through the limitations of currency conversions.
The collaboration between Okura and Max will leverage Okura's advanced technological infrastructure and its suite of solutions. Okura's ABCM™ platform: Automated Business Currency Management, is a cloud-based solution that will serve as an integrative environment for all of Max's payment and risk management needs. Using the operational tools of the platform, the risk management modules and access to a wide network of banks and trading rooms, Max will be able to expand its activities in the field of foreign exchange. In addition, Okura will provide Max with guidance regarding financial regulation in Israel and will ensure that Max can build its application in a safe and secure environment that complies with the regulations. Benny Avraham, founder and CEO of the start-up Okoora: "The collaboration between Okora and Max reflects a strategic and comprehensive approach to solutions in the field of foreign exchange and it illuminates the joint commitment of both companies to innovation in the fintech industry. We strive to jointly redefine the foreign exchange market and provide Organizations have a significant platform for the global operation of their foreign exchange activities." Benny Avraham added: "Our goal is to simplify the operation of foreign exchange transactions in the global market and to instill confidence among businesses around the world. Through the cooperation with Max we can expand liquidity and solutions in the field foreign exchange and will enable the efficient execution of multi-currency money transfers on a wide scale. Our platform was designed to speed up money transfers and will allow Max to expand its offering to customers through a digital solution." In conclusion, Avraham noted: "Our infrastructure makes it possible to expand our value proposition and it is possible to integrate structured financial solutions. We are committed to expanding our portfolio of solutions and giving them a competitive advantage for our customers." Yaron Tiktin, VP of Credit, Max: "This is the first time that a credit card company in Israel allows the purchase of foreign currency with the credit card. Max's digital currency wallet is great news for many Israelis who take cash abroad with them. The foreign exchange wallet linked to the customer's credit card makes it possible to purchase foreign currency in a cheaper, friendlier, safer and effortless way before and during trips abroad as well as to pay for online shopping. The collaboration with Okura realizes our goal of making the financial management of The customer is more comfortable and smarter." Okura's AI platform provides real-time insights about the currency markets, simplifies the management of the currencies and offers artificial intelligence tools to neutralize currency risks. The unified management system gives businesses control over their foreign currency flow and enables cross-border payments in more than 100 currencies around the world. Since the launch of the platform in January 2022, Okura has registered significant growth and has gained over 7,000 customers in the corporate sector and among small and medium-sized businesses in Israel who have made tens of thousands of transactions in the scope of billions of dollars in the first year of operation. 100% of the customers who purchased a license to use ABCM in 2022 renewed it in 2023. The connection to the Okura platform allows Max the ability to pay and receive payments in the app in more than 100 currencies worldwide. Okura's infrastructure allows customers to conveniently open multi-currency bank accounts in major cities around the world. Okura works to enrich the functionality of the platform and offer additional services and additional currencies. Okura was founded in August 2021. by Benny Avraham, a reputable entrepreneur and founder of the Ofakim Group, the leading financial risk management company in Israel. Okura currently employs 70 people: 40 in Israel, 20 in Switzerland and Germany and 10 in India. In light of the ongoing growth and the expansion of operations to European countries, Okura plans to double the number of its employees who will help expand the system's capabilities and provide a unique service to an ever-expanding customer base. Okura transitioned to profitability in 2023 and is run as a bootstrap without investments from outside investors.