iBanFirst
iBanFirst is a financial services platform providing mid-market companies with multi-currency accounts, real-time exchange rates, and international payment capabilities to manage cross-border operations efficiently and securely.
Velmie
Velmie provides a modular white-label banking platform that helps financial institutions and fintech startups launch branded mobile wallets, digital banks, and payment systems with scalable cloud-native technology.
Quick Comparison
| Feature | iBanFirst | Velmie |
|---|---|---|
| Website | ibanfirst.com | velmie.com |
| Pricing Model | Custom | Custom |
| Starting Price | Custom Pricing | Custom Pricing |
| FREE Trial | ✘ No free trial | ✘ No free trial |
| Free Plan | ✓ Has free plan | ✘ No free plan |
| Product Demo | ✓ Request demo here | ✓ Request demo here |
| Deployment | ||
| Integrations | ||
| Target Users | ||
| Target Industries | ||
| Customer Count | 0 | 0 |
| Founded Year | 2013 | 2010 |
| Headquarters | Brussels, Belgium | Vilnius, Lithuania |
Overview
iBanFirst
iBanFirst provides a comprehensive platform for managing your international business finances without the complexity of traditional banks. You can open multi-currency accounts with dedicated IBANs in over 30 currencies, allowing you to collect payments from global customers and pay international suppliers like a local. The platform gives you direct access to real-time currency markets, ensuring you get transparent exchange rates without hidden bank margins.
You can centralize your global cash flow and automate complex payment workflows through a single interface. The software also offers specialized hedging tools to protect your profit margins from market volatility. It is specifically designed for mid-market companies and high-growth startups that handle significant import-export volumes and need a faster, more cost-effective alternative to legacy banking systems.
Velmie
Velmie offers a modular core banking platform designed to help you build and scale financial products quickly. Whether you are launching a digital bank, a mobile wallet, or a payment remittance service, you can use their pre-built modules to handle accounts, payments, and currency exchange. The platform is built with a microservices architecture, meaning you can customize specific features without rebuilding your entire system from scratch.
You can manage your entire financial ecosystem through a centralized back-office while providing your customers with branded iOS and Android apps. The software handles complex regulatory requirements like KYC/AML integrations and multi-currency support out of the box. It is particularly effective for mid-market financial firms and ambitious fintech startups that need to move from concept to market-ready product in weeks rather than years.
Overview
iBanFirst Features
- Multi-Currency IBANs Open dedicated IBANs in your company name for over 30 currencies to collect and hold funds globally.
- Real-Time FX Rates Access live market exchange rates and execute currency conversions instantly with total transparency on every transaction.
- Payment Tracking Track your international transfers in real-time using SWIFT gpi so you know exactly when funds reach your suppliers.
- Currency Hedging Protect your business from market fluctuations using forward contracts and flexible options to lock in favorable exchange rates.
- Bulk Payments Upload CSV files to execute hundreds of international payments simultaneously, saving your finance team hours of manual entry.
- Role-Based Permissions Set up custom approval workflows and limit user access to ensure your company funds remain secure and controlled.
Velmie Features
- Mobile Wallet Apps. Launch branded iOS and Android apps that let your customers manage accounts, send money, and pay bills on the go.
- Core Banking Engine. Manage ledgers, internal accounts, and transaction processing with a scalable, cloud-native engine designed for high-volume traffic.
- KYC/AML Compliance. Automate your onboarding process by integrating with global identity verification providers to stay compliant with local financial regulations.
- Currency Exchange. Offer real-time currency conversion and multi-currency accounts to your users with automated exchange rate updates.
- Payment Orchestration. Connect to various payment gateways and networks like SEPA, SWIFT, or local rails through a single unified interface.
- Card Issuing. Provide your customers with virtual or physical debit cards integrated directly into their digital wallet for seamless spending.
- Crypto Gateway. Enable your users to buy, sell, and hold digital assets alongside traditional fiat currencies within the same application.
- Administrative Back-Office. Monitor transactions, manage user permissions, and generate financial reports through a comprehensive web-based dashboard for your staff.
Pricing Comparison
iBanFirst Pricing
Velmie Pricing
Pros & Cons
iBanFirst
Pros
- Significantly lower exchange rates than traditional commercial banks
- Fast account setup process compared to legacy financial institutions
- Intuitive interface makes managing multiple currencies very simple
- Excellent customer support with dedicated account managers
- Real-time tracking provides peace of mind for large transfers
Cons
- Focuses strictly on B2B, not available for personal use
- Limited physical presence for those who prefer in-person banking
- Verification process can be rigorous for certain complex industries
Velmie
Pros
- Modular architecture allows for high levels of customization
- Significantly reduces time-to-market for new fintech products
- Strong focus on security and regulatory compliance features
- Scalable microservices handle growing transaction volumes easily
- Responsive support team during the implementation phase
Cons
- Initial setup requires technical expertise for integration
- Custom pricing makes it difficult to estimate early costs
- Documentation can be complex for non-technical users