This partnership will see the two fintechs cooperate in terms of data sharing, technical integration as well as leveraging each other’s established networks.

The partnership will bring new value to their users across Singapore and Malaysia, thus building the foundation for future cooperation.

In a crowded fintech space where start-ups are vying to provide consumers with on-demand services and information, solving the problem of transparency when it comes to cash exchange rates is a challenge that has been taken on by a number of organisations.

Some are tackling the issue via crowdsourcing or P2P models.

4xLabs and Moneybay work directly with money service businesses to display their rates online through exchange rates aggregation and booking service platforms for travellers.

Moneybay also offers a premium delivery service for customers who book their currencies online in Malaysia.

The first phase of the partnership, and resultant technical integration, will provide money changers with one better platform to manage their rates.

Through Biz4x, money changers would only need to input their rates into the system once, to be able to display these rates on Moneybay, Get4x and rate boards, as well as accept bookings from travellers in Singapore and Malaysia.

Previously, a money changer would have to enter their rates into disparate systems, a cumbersome process that is tedious and prone to inaccuracy across platforms. Having one platform to manage their rates across multiple systems ensures accuracy, consistency and timeliness.

Building on the success of the first phase, the second phase would involve innovating upon the launched services, to optimise the process of currency exchange for both the travellers and money service businesses, potentially through an enhanced delivery service across SIngapore and Malaysia.


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This partnership will provide the following direct benefits. Money changers will benefit from one better consolidated system to manage their business.

Travellers benefit from more data, choice and convenience when it comes to online currency booking for Singapore and Malaysia.

With 4xLabs and Moneybay, the benefits of the partnership will allow them to optimise their resources to focus on the unique experience they each provide to their user base.

For Moneybay, this partnership will allow them to focus on building a unique B2C experience for travellers such as the expansion of their currency delivery service.

Moneybay CEO Christian Teo said, “Partnering with 4xLabs is part of our strategy to enhance Moneybay’s competitive advantage in the Southeast Asia region.

“Through our combined expertise, technology and networks, we believe that our collaboration will allow us to bring real value to the industry, and the ultimate beneficiaries will be the money service businesses and travellers as we elevate the currency exchange experience for them.”

For 4xLabs, it will result on more money changers within the Get4x and Biz4x network in Malaysia.

4xLabs CEO Chris Vanden Berghe said, “4xLabs and Moneybay see a lot of strategic alignment in our vision for the physical FX industry. Instead of expending time and resources building out two business management systems that would be inferior to one consolidated system, we’ve opted for another better route.

“It makes more business sense to work together to leverage our respective strengths where we each have a strong user base and develop new and improved services for our external stakeholders across borders.”

The partnership between 4xLabs and Moneybay was officially signed during the recent inaugural 2017 MCX (Money Service Business Customer Experience) Awards in Malaysia that was organised by the Malaysia Association of Money Services Business.

“The market opportunity when it comes to the physical FX industry is huge. Rather than fighting over a small slice of the pie, we believe in pursuing a path of open collaboration with like-minded entrepreneurs that share the same values and goal of pioneering technological and business innovations, that will improve the entire state of the physical FX industry in a holistic manner. Likewise, we believe that the way forward for many fintechs will be through such collaborative partnerships,” said Vanden Berghe.