A larger trend toward the democratization of financial services is seen in the recently launched Okoora app marketplace. The dominance that big banks held over the provision of what were once thought of as banking services has been undermined by open banking and regulatory reforms.

Through its ABCM platform, Okoora, a fintech firm based in Switzerland and Israel, aims to provide small and medium-sized enterprises with enhanced control over their currency operations. Any Okoora user, regardless of whether they have a paid subscription to the ABCM platform or are on a free plan, can access the recently created app marketplace.


"The app marketplace represents the next step towards Okoora's mission of democratising financial services and empowering businesses to fine-tune their currency management experience," stated Benjamin Avraham, CEO and founder of Okoora.

"Our objective is to improve the control and efficiency that small and medium-sized businesses have in managing their currency operations as we break free from the constraints of traditional banking."
 

The Okoora app marketplace now offers a number of apps. These include FX Expert Package, which offers a team of experts to guide the company through the complexities of FX management; Free Outgoing Payments, which allows companies to cut costs by sending free, regular payments; and FX Hedging Policy, which allows users to create a personalized FX hedging policy that meets their business needs and strategic goals.


Founded in 2021 by Avraham, the creator of the Ofakim Group, a financial risk management company located in Israel, Okoora presently employs 100 dedicated professionals from Israel, Switzerland, Germany, and India. In order to enhance its operational capability and deliver exceptional customer service to its expanding clients, Okoora is preparing to extend its team as it sets its sights on additional European expansion.