{"id":8517,"date":"2025-08-28T20:49:36","date_gmt":"2025-08-28T20:49:36","guid":{"rendered":"https:\/\/demo2.fincode.co.uk\/new\/?p=8517"},"modified":"2025-08-28T21:46:20","modified_gmt":"2025-08-28T21:46:20","slug":"kogopay-case-study","status":"publish","type":"post","link":"https:\/\/demo2.fincode.co.uk\/new\/kogopay-case-study\/","title":{"rendered":"KogoPay Case Study"},"content":{"rendered":"\t\t
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How FinCode Helped KogoPAY to Launch an Award-Winning Multi-currency account and digital wallet transfer services<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Challenge<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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KogoPAY aimed to facilitate fast and affordable payments for customers in the EU through a multi-currency digital wallet but did not have the technology, license for EU compliance, and banking-as-a-service integration process to realise this vision.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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Solutions<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tFinCode is a forward-thinking technology incubator that met KogoPAY requirements, including a multi-currency digital wallet, low-cost remittance capabilities, seamless integration with LHV\u2019s banking ledger, and support in obtaining an EMI license.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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Results<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tFinCode\u2019s technologies enabled KogoPAY to quickly and cost-effectively launch an award-winning multi-currency wallet and remittance app through which customers can store, send and receive e-money.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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KogoPAY aims to revolutionise global payments and digital banking by offering innovative, inclusive financial services. Headquartered in London, with offices in Bangkok and Lithuania, they offer individuals, businesses, and charities a digital wallet solution to send, receive, and manage money across multiple currencies at minimal costs.<\/p>

Beyond payments, the platform supports virtual IBAN in GBP and EUR and champions societal impact through initiatives like \u2018Pay it Forward.\u2019<\/p>

However, making this vision a reality required overcoming significant technological, compliance and operational hurdles. These challenges led KogoPAY to partner with FinCode, a technology provider uniquely equipped to bridge the gap between ambitious technical and regulatory complexities, and a working, user-friendly financial product.<\/p><\/blockquote>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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At the heart of KogoPAY\u2019s mission was the need to develop an intuitive digital wallet that could handle multiple fiat currencies, facilitate low-cost local e-money transfers and be accessible through a web or mobile app. Creating such a sophisticated, user-friendly platform required precision and expertise, especially in managing the intricacies of multi-currency functionality.<\/p>

Another challenge loomed in the area of global remittances. KogoPAY\u2019s core value proposition included enabling users to transfer money across borders efficiently and at minimal cost. This demanded a system capable of real-time currency conversion and seamless international transactions\u2014features that had to function reliably regardless of where the sender or recipient was located.<\/p>

To operate within the European Union\u2019s regulated financial market and hold money on behalf of individuals and businesses, KogoPAY needed to secure an Electronic Money Institution (EMI) license and meet the EU\u2019s stringent compliance requirements. There was also the question of how to integrate with LHV, a prominent Estonian banking-as-a-service provider, for their core banking offerings such as virtual accounts, IBANs, real-time deposits and savings.<\/p><\/blockquote>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Faced with these challenges, KogoPAY sought a forward-thinking, financial technology provider capable of delivering an all-in-one banking platform addressing their unique requirements. FinCode fitted this profile.<\/p>

We combined our cutting-edge technology with compliance expertise to deliver the following:<\/p>