The fintech startup okoora has launched an App Marketplace for its Automated Business Currency Management (ABCM) platform. This provides businesses with a secure and user-friendly environment to buy additional services that enhance the core functionality of the ABCM cloud-based platform for managing currency operations.

The okoora App Marketplace reflects a broader trend toward the democratization of financial services. Open banking and regulatory changes have weakened the hold major banks have had on the provisioning of what were traditionally viewed as banking services. Okoora, a Swiss-Israeli fintech startup, has been focusing on improving the experience small and medium-sized businesses have in managing their currency operations and giving them greater control through its ABCM platform. The App Marketplace is available to any customer regardless of whether they are on a free plan or have a paid subscription to the ABCM platform.

Currently, several apps are available on the okoora App Marketplace. These include Free Outgoing Payments, where companies can reduce costs by sending free, regular payments; an FX Expert Package, which provides a team of experts who will walk the company through the complexities of FX management; and an FX Hedging Policy, which enables users to build a custom FX hedging policy that serves their strategic objectives and business needs.

“The App Marketplace represents the next step towards okoora’s mission of democratizing financial services and empowering businesses to fine-tune their currency management experience," said Benjamin Avraham, CEO and founder of okoora. “As we break away from the limitations of traditional banking, our goal is to enhance the control and efficiency that small and medium-sized enterprises have in managing their currency operations.”

Okoora, established in 2021 by Avraham, the founder of Ofakim Group – Israel's premier financial risk management firm – currently boasts a committed team of 100 professionals across Israel, Switzerland, Germany, and India. With sights set on further European expansion, okoora is gearing up to expand its workforce, aiming to bolster its operational capacity and provide outstanding service to its growing clientele.