Earthport, the alternative to the outdated correspondent banking model for cross border payments, has released a trading update for the year ended June 2015. Revenue of at least £19.25m is broadly in-line with market expectations and up c.78% y-o-y. Transacting new clients in the period include the likes of HSBC, Santander and Standard Chartered while the dollar value of payments increased over 75% to a Y/E run rate of $10bn+. The group achieved positive cash flow in several months in H2’15 howe ....
