IBS Intelligence names okoora as winner of 2024 Digital Banking Award for Forex Management

Swiss-Israeli fintech startup okoora, which has a branch in Cyprus, has been named as the winner of the 2024 Digital Banking Award in the Forex Management category by IBS Intelligence, a leading global financial technology research, news analysis, and advisory firm.

A ceremony announcing all the 2024 Digital Banking Award winners was held last month in Bengaluru, India. The fourth edition of the Digital Banking Awards by IBS Intelligence evaluated over 60 technology projects across multiple geographies, a press release on the prize notes.

"The Digital Banking Awards epitomise the transformative shift in banking, celebrating both digital pioneers and traditional institutions for their adaptability and innovation," said Nikhil Gokhale, Director of Research and Digital Properties at IBS Intelligence. "IBS Intelligence recognised this year okoora's excellence in Forex Management, with their innovative ABCM platform and commitment to empowering businesses of all sizes with effective currency risk management solutions."

"We are honoured to be recognised by IBS Intelligence as the winner of the 2024 Digital Banking Award for Forex Management," said Benjamin Avraham, CEO and founder of okoora. "This is further validation of okoora's innovative, AI-based approach to assisting companies of all sizes with their currency management operations. This award is a testament to our team's dedication and commitment to delivering solutions that empower our clients."

Okoora, which has already gained 15,000 registered clients, is the creator of the Automated Business Currency Management (ABCM™) integrated cloud platform that manages global payments, transactional banking, and currency risk management. Okoora is also the first company in the world to offer an API in the field of currency risk management.

Okoora has taken significant strides toward expanding into new markets over the past year, particularly in Europe. At the end of last year, it opened a new branch in Limassol, Cyprus. The company plans to launch a new office in another European country in the beginning of the second half of the year. This move is part of a longer-term plan to serve the millions of businesses, especially small and medium-size enterprises, operating within the EU.