Investing without borders: Plum delivers their mission with Airwallex

Victor Trokoudes

CEO and Co-Founder of Plum

"Airwallex is the perfect cross-border payments and FX partner to support our mission. Their strong technological infrastructure and dedicated engineering support team has allowed for a seamless integration process."

Plum has a mission: to make your money go further. 

The leading wealth management and investing app uses open banking and automation to help clients understand their spending habits, save little and often, and grow their money through investment. 

When choosing a cross-border payment solution for their new stock investing feature, Plum CEO and Co-Founder Victor Trokoudes knew they needed a partner that would help them deliver on their core mission, so he came to Airwallex.

Airwallex’s experience working in the WealthTech ecosystem, and our dedicated engineering teams, allowed for the fast integration of flexible FX capabilities into the Plum platform. 

Airwallex was also able to deliver direct integration with US clearing brokers, and support a variety of broker clearing models, from Fully Disclosed to Omnibus and Self Clearing.  

How is Plum using Airwallex?

Plum’s new investment feature allows clients to trade in a variety of stocks, including fortune 500 companies such as Google and Apple, from as little as £1. 

As part of their offering, Plum enables clients to invest in 500+ US companies across a range of industries and options, including tech, healthcare and ethical finance. And they have plans to expand their offering to the EU.

With their Airwallex cross-border payments integration, Plum can ensure clients get the best exchange rate when buying and selling stocks internationally. With Airwallex’s flexible FX capabilities built into the platform, clients can benefit from a greater return on their investments.

Victor Trokoudes

CEO and Co-Founder of Plum

"Airwallex as a business knew what they were doing, they had done it in other markets, so there wasn’t much of a risk. The willingness to explore and build together led us to work with them."

Building flexible FX into Plum

Problem:

Plum wanted to minimise FX fees for customers when trading international stocks.

They needed a solution which would allow for inexpensive multi-currency exchange and direct integration with US clearing brokers. They also needed a partner that could work quickly and facilitate a fast go-to-market for their new stock investing feature.

Solution:

Plum built Airwallex’s multi-currency payment acceptance and low FX rate into their platform. That means when Plum clients trade stocks from international companies, they can be sure they’re always getting the best exchange rate. 

With the Airwallex solution in place, Plum can collect, hold and convert funds in multiple currencies at a bank-beating FX rate. Additionally, 24/7 FX settlement allows for FX quotes outside of market hours, LockFX adds more stability for quotes, and Post Fund FX reduces the settlement risk for brokers.    

The Airwallex integration will help Plum minimise the cost of international investment and deliver on their promise to make their customer’s money go further.

Seamless platform integration

Airwallex was designed for businesses like Plum. 

The process of building Airwallex into the Plum product was smooth thanks to our experience working in the WealthTech ecosystem, our user-friendly APIs and our fast-working engineering team, who implemented the features to cover Plum’s needs in record time.

Lefteris Economides

Product Manager at Plum

"Building Airwallex into our product was basically seamless, thanks to their easy-to-use APIs and dedicated engineering support team. What was really impressive was that they implemented new features and customised their product really fast to cover all our needs."

Empowering businesses to build without limits

Airwallex helps businesses like Plum grow without borders and deliver the best results for their customers. 

Jed Rose, GM, EMEA at Airwallex, said: “How a person manages their wealth is key to their financial success, and Plum has identified an innovative way to help achieve that. 

We are excited to be Plum’s partner of choice as they look to grow internationally, supporting them on their latest stock investing feature. Our global financial infrastructure aims to empower businesses just like Plum, enabling them to operate anytime and anywhere. We look forward to deepening our partnership and together, continuing to innovate through technology.”