IBS Intelligence Names okoora as Winner of 2024 Digital Banking Award for Forex Management

TEL AVIV, Israel and ZURICH, Switzerland, May 9, 2024 /PRNewswire/ -- Swiss-Israeli fintech startup okoora has been named as the winner of the 2024 Digital Banking Award in the Forex Management category by IBS Intelligence, a leading global financial technology research, news analysis, and advisory firm. A ceremony announcing all the 2024 Digital Banking Award winners was held last month in Bengaluru, India. The fourth edition of the Digital Banking Awards by IBS Intelligence evaluated over 60 technology projects across multiple geographies.

"The Digital Banking Awards epitomize the transformative shift in banking, celebrating both digital pioneers and traditional institutions for their adaptability and innovation," said Nikhil Gokhale, Director of Research and Digital Properties at IBS Intelligence. "IBS Intelligence recognized this year okoora's excellence in Forex Management, with their innovative ABCM platform and commitment to empowering businesses of all sizes with effective currency risk management solutions."

"We are honored to be recognized by IBS Intelligence as the winner of the 2024 Digital Banking Award for Forex Management," said Benjamin Avraham, CEO and founder of okoora. "This is further validation of okoora's innovative, AI-based approach to assisting companies of all sizes with their currency management operations. This award is a testament to our team's dedication and commitment to delivering solutions that empower our clients."

Okoora, which has already gained 15,000 registered clients, is the creator of the Automated Business Currency Management (ABCM™) integrated cloud platform that manages global payments, transactional banking, and currency risk management. Okoora is also the first company in the world to offer an API in the field of currency risk management.

Okoora has taken significant strides toward expanding into new markets over the past year, particularly in Europe. At the end of last year, it opened a new branch in Limassol, Cyprus. The company plans to launch a new office in another European country in the beginning of the second half of the year. This move is part of a longer-term plan to serve the millions of businesses, especially small and medium-size enterprises, operating within the EU.

About Okoora

Okoora, established in 2021 by Benjamin Avraham, the founder of Ofakim Group – Israel's premier financial risk management firm, currently boasts a committed team of 100 professionals across Israel, Switzerland, Germany, India and Cyprus. With sights set on further European expansion, okoora is gearing up to expand its workforce, aiming to bolster its operational capacity and provide outstanding service to its growing clientele. Okoora, which achieved profitability in 2023, operates as a bootstrap and is self-financed.

SOURCE Okoora