Interview with Doron Cohen from Covercy

Published by Crowdbiz

View original article (German version)

Covercy is a financial service provider for international money transfers with simple and fast transaction processes. Our advantage: We are fast, safe and above all cheap. Before I founded Covercy with my co-founders, I was the CEO and co-founder of Leverate, a leading software provider in international foreign exchange trading, namely FOREX. It quickly became clear to me that a money transfer between different currencies and countries costs a lot of money – of course, I speak here of SWIFT transfers. Small and medium-sized companies in particular suffer from these high costs very much and I was sure there was a solution to this problem. This is how the idea behind Covercy was born and we started to develop a solution to this problem, namely, to reduce transaction costs for foreign transfers by 20 to 80 percent.

As a financial services provider, it has always been our priority to become a fully regulated and licensed company, a challenge that we have successfully mastered quickly. In order to receive our license, we had to develop the right anti-money laundering processes and assemble the perfect team of consultants, financial and business experts. I think we have mastered this very well. In addition, of course, we had to develop a product that perfectly meets the needs of our customers. These included, on the one hand, a customer-oriented front-end user interface, which allows customers to easily and clearly understand transaction processes. On the other hand, a strong back-end is also very important in order to successfully manage the transactions of customers, to minimize risks, and to be able to carry out large transaction volumes at any time…