Challenge

Outdated FX Payments Technologies, Operational and Regulatory Complexities

The first-hand experience of AbbeyCross founders with respect to the outdated technologies and operational and regulatory complexities that dominate the global FX payments landscape, particularly in emerging markets –  and the lack of clear market conventions among FX and payments providers in supporting these markets – demanded a new approach and solution built on the foundations of best-in-class, proven and trusted financial transaction technologies. 

AbbeyCross initially engaged a third-party trading technology company to build out a tactical ‘Proof of Concept’ for its proposed platform. It then pivoted to a longer-term strategic approach of engaging specialist service providers such as Chronicle to work alongside its own development teams.

This nimble and agile approach resulted in faster design and development timelines for a number of phased ABX Platform initiatives coming to market in 2024. 

Solution

Specialist Advisory Services, Dedicated Software and Award-winning Technologies

The ABX Platform delivers a single, flexible integration to products that aim to future-proof FX payments businesses in a changing world. ABX Studio, launched in May 2024, provides unique FX payments market pricing data from multiple sources for greater transparency, insight and benchmarking. ABX Sync will enable users to act on these insights to optimise transaction execution and to send payment instructions to multiple FX payment partners. 

Chronicle continues to work closely with AbbeyCross to provide specialist advisory services, dedicated software development resources and proprietary, award-winning technologies to the ABX Platform. Chronicle resources work directly alongside in-house and other third-party software engineers; we have also contributed directly to the selection and appointment of these resources.

Results

Ongoing, Expert Consultancy and Trusted Software

An integral partner in the successful build and accelerated go to market of the ABX Platform, Chronicle continues to provide:

• Ongoing, expert consultancy/advisory and high-quality software solutions

• Dedicated, specialist Chronicle developer and engineer resources 

• Advice in vendor selection processes for hardware and cloud-based service providers supporting solution delivery 

• Support in recruitment of appropriate skilled in-house resources (technology/software expertise) 

 

Client Testimonial: 

Hear from Ben McConnell, CTO, on how our collaboration accelerated the ABX Platform launch, boosted performance, and delivered ongoing strategic and technical support. Click to watch: AbbeyCross on how Chronicle Software became a perfect fit