Company: Neo
CEO: Laurent Descout
Website: https://www.getneo.com
About Neo
Neo is a cross-border payment and FX fintech dedicated to transforming the cross-border payments landscape, for SMEs and large enterprises alike, by eliminating inefficiencies, reducing costs, and enhancing security.
Neo offers a better way for businesses to manage international treasury departments through its all-in-one platform. Its platform provides FX corporate risk management, international multi-currency bank accounts, cash-flow management, and payments data analytics, all from one integrated account.
Cross-border payments with traditional banks can often be fraught with slow processing speeds, high costs and a lack of payment transparency. Neo addresses these issues by providing users with fully registered International Bank Account Numbers (IBANs) from which they can complete same-day payments in over 25 currencies; low trading fees between 0.05% and 0.25%, compared to the typical rate of 1% to 3% charged by many banks with post-settlement reporting.
Many fintechs promise simplicity but ultimately rely on a collection of different software and plugins that each perform different functions, thereby creating layers upon layers of complex technology systems. With Neo, treasurers can complete all key payment functions in one place – a simplification of the cross-border payment process that allows businesses to reduce their payment workflow costs by up to 50 per cent.
Additionally, users can store currency in an unlimited number of currency wallets until they are ready to make a payment or exchange currency. These wallets can be opened and closed on demand.
Neo also recognises that treasurers need to go beyond basic management systems. To excel in their role, treasury teams need to leverage data analytics to become more strategic in their decision-making. As such, Neo’s platform features built-in market data for FX trading, automated hedging, and FX trading capabilities, as well as post-settlement reporting. With this, users can optimise their position to their advantage, while shielding from downturns.
In an era when finance teams are increasingly making international payments and collections from their own homes, rather than on company servers, top-tier security is vital. With full connectivity and membership of SWIFT, payments made through Neo are easily and securely tracked. All actions are also logged and stored, providing a complete audit trail with continuous backups and RSA-2048 standard encryption as standard.
In July 2024, Neo announced our collaboration with Premier League football club, Wolverhampton Wanderers FC, as their Official Foreign Currency Exchange Partner.
This partnership showcases how fintech can streamline high-value, cross-border transactions, such as player transfers, with real-time FX settlement and cost-efficient payment solutions.
Neo’s impact is demonstrated by:
– €20 billion cleared through its multi-currency accounts since launch (€7 billion in 2024 alone).
– 300+ corporate clients across 28 countries, processing payments daily.
– 8,000+ banks connected to Neo’s Bank Identification Code (BIC) on the SWIFT network.
– First European fintech to offer PSD2-compliant payment services from a single platform.
– Achieved profitability in 2024, a significant milestone in the competitive fintech landscape.
Check out what TechRound can do for your business: SEO, PR, HR Software, Payroll Software, IT, VoIP.
