OFX provides a cloud‑native platform that consolidates multi‑currency accounts, international payments, corporate cards, and spend‑management tools into a single dashboard. It enables businesses to hold and transact in over 30 currencies, execute spot, forward and limit‑order FX trades at real‑time rates, and automate approval workflows with AI, while integrating with QuickBooks and Xero for seamless accounting.
Funding
Funding not disclosed
Founders
Product
Problem
Businesses that operate across borders must juggle multiple bank accounts, disparate payment tools, and manual FX conversions, which leads to fragmented workflows, high transaction costs, and limited visibility into cash flow and spend. Scaling these processes across multiple entities further amplifies operational risk and administrative overhead.
Solution
OFX delivers a single, cloud‑native platform that consolidates multi‑currency accounts, international payments, corporate cards, and spend‑management tools into one dashboard. Users can hold and transact in 30+ currencies, execute spot transfers, forward contracts, or limit orders at real‑time market rates, and settle payments in over 170 countries. Built‑in AI automates approval routing, flags duplicate or anomalous invoices, and suggests optimal FX hedging strategies. The Control Hub enforces role‑based access, budget limits, and workflow policies, while native integrations with QuickBooks and Xero keep accounting data synchronized. Mobile apps extend the same functionality to on‑the‑go users, ensuring end‑to‑end visibility and control over global cash operations.
Target Audience
The platform is aimed at small‑to‑mid‑size enterprises, multi‑entity corporations, and accounting firms that need a consolidated solution for global payments, FX risk management, and automated spend control.
Features
- Multi‑currency accounts with local account details for USD, CAD, EUR, GBP and 30+ additional currencies, all viewable in a unified balance sheet.
- Real‑time FX engine offering spot, forward, and limit‑order execution, with transparent pricing and automated rate‑lock notifications.
- Batch payment engine that processes thousands of vendor or payroll transactions in a single file, supporting multiple currencies and SWIFT/BIC routing.
- Corporate cards issued instantly, linked to currency balances, with configurable spend limits, receipt capture, and up to 5% cashback on qualified spend.
- AI‑driven approval workflow that learns from historical patterns, auto‑approves routine invoices, and surfaces risk alerts for manual review.
- Control Hub for centralized policy management, role‑based permissions, budget tracking, and audit‑ready logs.
- Bi‑directional integrations with QuickBooks Online and Xero, providing real‑time ledger reconciliation and transaction posting.
- Native iOS/Android business and money‑transfer apps delivering end‑to‑end payment initiation, rate alerts, and transaction monitoring from any device.