CurrencyCloud CTO Eyes Global Growth After Going All-In On AWS

CurrencyCloud CTO Eyes Global Growth After Going All-In On AWS 600 388 C-Suite Network

INTERVIEW: International payments firm set its sights high after embracing the agility and innovation of cloud

The fintech industry is one that has enjoyed supersonic growth over the last few years, as the way in which people pay for goods and services shifts dramatically.

Many regions around the world are fast transitioning to cashless societies where the emphasis is now very much on digital payment platforms that are easy to use and can be seamlessly integrated by vendors.

Nowhere is this trend more evident than in the UK. London is widely known to be one of the leading fintech markets, with some of the world’s biggest financial organisations setting up shop in the capital and the likes of Transport for London leading from the front.

One company that has been busy making the most of this fintech boom is CurrencyCloud, a London-based provider of a global payments platform that helps businesses move money quickly and securely around the world.

AWS or bust

CurrencyCloud has experienced significant success since its birth in 2012, with transaction volume growing at around 50-60 percent annually for each of the last three years.

But with this growth, of course comes complications. Speaking to Silicon at the AWS Summit in London, CurrencyCloud’s CTO Ed Addario outlined why the company reached a point where an all-in move to cloud was the only way forward.

“Moving to Amazon is one of those milestone steps that we need to take,” he said. “We have been seeing phenomenal growth, by the end of June we will have made as many payment transactions as we did in the entire of 2016.

“It got to the point where our existing provider couldn’t scale enough. The question that our CTO had to be able to answer was ‘what happens if tomorrow there is a potential customer who decided to give us a chance to deal with all their international payments?’ Are we in a position to go from 200,000 transactions a month, to 2 million transactions a day?

“From a technology…