Corpay, Cambridge Global Payments, and AFEX are trading names that may be used for the international payment solutions and risk management solutions provided by Cambridge Mercantile Corp. or its affiliate entities. International payment solutions are provided in Australia through Cambridge Mercantile (Australia) Pty. Ltd.; in Canada through Cambridge Mercantile Corp.; in the United Kingdom through Cambridge Mercantile Corp. (UK) Ltd.; in Ireland and the European Economic Area on a cross-border basis through Associated Foreign Exchange Ireland Ltd.; in Jersey and the Channel Islands through AFEX Offshore Ltd.; in Singapore through Associated Foreign Exchange (Singapore) Pte. Ltd. and in the United States through Cambridge Mercantile Corp. (U.S.A.). Risk management solutions are provided in in Australia through Cambridge Mercantile (Australia) Pty. Ltd.; in Canada through Cambridge Mercantile Corp.; in the United Kingdom through Cambridge Mercantile Risk Management (UK) Ltd.; in Ireland and the European Economic Area on a cross-border basis through AFEX Markets Europe Ltd.; in Jersey and the Channel Islands through AFEX Offshore Ltd.; in Singapore through Associated Foreign Exchange (Singapore) Pte. Ltd. and in the United States through Cambridge Mercantile Corp. (U.S.A.) (all legal entities in referenced in this paragraph are collectively referred to as “Corpay Cross-Border”).
Corpay Cross-Border is duly licensed, authorized, affiliated, or registered to provide international payment solutions or risk management solutions in each of the aforementioned jurisdictions. Cambridge Mercantile (Australia) Pty. Ltd., ABN 85 126 642 448, is authorized and regulated by the Australian Securities and Investments Commission as an Australian Financial Services Licensee (AFSL No. 351278). Cambridge Mercantile Corp. is registered and regulated as a Money Services Business with the Financial Transactions and Reports Analysis Centre of Canada and the Autorité des marchés financiers. Cambridge Mercantile Corp. (UK) Ltd., registered in England and Wales, Company Number 05271222, with its registered office at 4th Floor, 40 Strand, London WC2N 5RW, is authorized by the Financial Conduct Authority (Register Reference: 900702) for the provision of electronic money and payment services. Cambridge Mercantile Risk Management (UK) Ltd., registered in England and Wales, Company Number 08363276, with its registered office at 4th Floor, 40 Strand, London WC2N 5RW, is authorized by the Financial Conduct Authority (Register Reference: 596682) as a MiFID investment firm. Associated Foreign Exchange Ireland Ltd., with its registered office at 120 - 121 Lower Baggot Street, Dublin 2, Ireland, and whose company number is 597582, is authorized by the Central Bank of Ireland as a Payment Institution pursuant to Regulation 18 of the European Union (Payment Services) Regulations 2018. AFEX Markets Europe Ltd., with its registered office at 120 - 121 Lower Baggot Street, Dublin 2, Ireland, and whose company number is 635056, is authorized by the Central Bank of Ireland as a MiFID Investment Firm pursuant to the European Union (Markets in Financial Instruments) Regulations 2017 (S.I. 375 of 2017). AFEX Offshore Ltd., registered no. 117732, with its registered office at Vantage House, 3rd Floor, 5 Anley Street, St Helier, Jersey JE2 3QE, is authorized and regulated by the Jersey Financial Services Commission for Investment Business and Money Service Business under the Financial Services (Jersey) Law 1998. Associated Foreign Exchange (Singapore) Pte. Ltd. with its principal office located at 3 Church Street, #27-01, Samsung Hub, Singapore, 049483 (UEN 200921111C) holds a capital markets services licence (CMS Licence Number: CMS101059) under the Securities and Futures Act (“SFA”) by the Monetary Authority of Singapore for dealing in capital market products that are over-the-counter derivatives contracts and is an exempt financial adviser and is licensed and regulated by the Monetary Authority of Singapore as a Major Payment Institution (Payment License Number: PS20200055) to carry on the business of providing cross-border money transfer service, domestic money transfer service and account issuance service under the Payment Services Act. Cambridge Mercantile Corp. (U.S.A.) is licensed and regulated as a money transmitter, or the local equivalent, by numerous State executive agencies including, but not limited to, the California Department of Financial Protection and Innovation, New York State Department of Financial Services and Texas Department of Banking. For a complete listing of licenses maintained by Cambridge Mercantile Corp. (U.S.A.), visit https://payments.corpay.com/compliance.
This brochure has been prepared solely for informational purposes and does not in any way create any binding obligations on any party. Relations between you and Corpay Cross-Border shall be governed by applicable terms and conditions. Corpay Cross-Border is the issuer of the products discussed in this brochure and would be a counterparty to any transaction you undertake with us. The information provided here should not be construed as providing advice or recommendations of any kind. You should use your independent judgment and consult with your own independent advisors in evaluating whether to enter into a transaction with Corpay Cross-Border. Currency options and other derivative products are not suitable for everyone. You should ensure the risks involved are fully understood before purchasing these products. Clients may be required to meet certain eligibility requirements in order to enter into certain foreign exchange transactions with Corpay Cross-Border. No representations, warranties or conditions of any kind, express or implied, are made in this brochure.
Cross-Border
4 min watch
GLOBAL
Compilation
Business continuity planning in a more complex world
Corpay Cross-Border Solutions
In an age of uncertainty, a well-designed business continuity plan is crucial. What it includes depends on the complexity of the business; the stakeholders, the reach of the business, and the critical systems that keep the business functioning. Each functional team has a role to play and a contribution to make.
We gathered members of Corpay Cross-Border Solutions’ leadership teams for insights into business continuity planning. Their varied perspectives demonstrate the multi-faceted nature of business continuity planning-- and the commonalities in their approaches.
Communication amongst stakeholders is crucial. And all would agree that the time to craft a business continuity plan is well before you need it.
Clear, consistent communication is key to a business continuity plan.
The first questions to ask, once a business disruption occurs, are
usually these:
- What happened?
- Who is affected?
- What is the impact to the business?
- Who needs to address the problem?
- Who needs to know first?
- What are the priorities?
- And how do we communicate it?
But the planning has to start well in advance of any sort of disaster. It’s a matter of planning and developing the continuity plan across teams, across the business‘s operations, and considering how to communicate it.
That's where a lot of organizations could fail: if they don't have a continuity plan that includes all aspects of the business, not just from an operational standpoint, but every aspect, including communication.
5 min read
GLOBAL
Brad Loder | VP Global Marketing
Corpay Cross-Border Solutions
Brad leads global marketing for Corpay Cross-Border, establishing the company’s global marketing and communications and corporate sponsorship strategies and programs. His team spans North America, EMEA and APAC. With over 20 years’ experience in marketing and demand generation, digital marketing, branding, sponsorship programs and marketing research obtained across the financial services and international healthcare industries, Brad is a proven B2B marketing and business development strategist, focused on the twin goals of building and nurturing high-performing teams and delivering marketing programs that generate results.
01
Communications
We’re in a period where events are more unpredictable than ever. A lot of these events feel like they are coming out of nowhere. But they do have outsized impacts on businesses.
Financial risk is typically factored into business continuity planning at the earliest stages. Modelling the financial impact unforeseen events might have on your business can help you see where gaps might be, and develop a way to address them. From the financial perspective, business continuity planning primarily comes down to two things: Protection and Diversification.
Make sure your insurance coverage suits your business and your systems. Climate issues, cyberattacks, and fraud are more common. Market volatility, be it local or global, can also affect your costs and your planning.
Diversify your business services, from banking partners to suppliers, as well as where critical knowledge rests.
In short: make sure you have a backup plan.
6 min read
GLOBAL
Stephen Pereira | SVP Finance & Accounting
Corpay Cross-Border Solutions
Stephen has primary responsibility over financial reporting, budgeting, forecasting, management
reporting, compensation analysis, tax, financial
regulatory compliance, and A/R and A/P functions
across the global organization.
Stephen has been with the Corpay Cross-Border business since 2016 and has over 18 years’ experience in the Financial Services industry. He has been involved in several pivotal projects including the acquisitions of Cambridge Global Payments AFEX and Global Reach Group by FLEETCOR Technologies and their integration and alignment with FLEETCOR financial reporting and SOX implementation.
02
Financial Planning
Business operations are often disrupted by unpredictable events and extrinsic risks, not necessarily by an internal error. It could be a natural disaster, a system outage, a power failure., but something that you hope never happens.
Often modernizing legacy systems involves balancing the financial
investment against the likelihood of an event: what might happen and the resources available for maintenance. Regular drills can help you discover
an intrinsic problem before it happens, and gauge responses in the event
of an extrinsic issue.
Most important is that you have a plan: one that suits your business and can adapt as your business evolves and to the world we live in today.
7 min read
GLOBAL
Michael Larkey | SVP Global Operations
Corpay Cross-Border Solutions
Mike leads the company’s Global Operations with regional teams in APAC, EMEA, Canada, and the US. He is a key stakeholder in the ongoing management
of the organization’s global banking relationships
and has worked diligently with our Product and Development teams to significantly scale operational capacity. Prior to joining Corpay Cross-Border, Mike worked for 15 years at State Street holding senior operational leadership roles based in various
global locations.
03
Operations
Our age of hybrid and remote working requires a different cybersecurity mindset, especially when it comes to IT and systems security. Keeping systems safe is both simpler and more complex.
New considerations include maintaining business-level security protocols with a distributed workforce; cloud storage capabilities lessening dependence on multiple data centers, and the communication challenges when you go from ‘ten branch offices to 450’ –when every employee’s home or local coffee shop becomes a branch.
8 min read
GLOBAL
Nish Patel | Chief Information Officer
Corpay Cross-Border Solutions
Nish oversees software development, production, and application support functions for the Cross-Border business, along with providing input and direction for
the network infrastructure and architectural design
of the firm’s technology footprint which is managed centrally through FLEETCOR.
Nish was the very first developer employed by Cambridge Global Payments (now part of the Corpay brand), in 2004, and progressed through many more senior positions before ascending to the role of Chief Information Officer for Corpay Cross-Border in 2022. Over the course his career, Nish has played a foundational role in both the infrastructure design and software development of the firm’s core technology products and platform. Nish earned a Master of Science in Information Technology with a focus on Software Engineering from Carnegie Mellon University.
04
IT Systems and security
Sound cybersecurity practices and Disaster Recovery planning in the event of a system hack or outage are an important component Business Continuity Planning. Cyberattacks and hacking attempts are constant, and can come from everywhere and anywhere.
Kenneth Foster, FLEETCOR’s Vice President of IT Governance, Risk and Compliance, puts it in context for us.
Key Takeaways:
- Keeping critical systems and data safe—and having a plan to address the problem and the recovery in the event of a breach, is a pillar of a Business Continuity plan.
- A cybersecurity programme must start with the business goals, and the potential business risk. The programme needs to be tailored to the business, not created in a vacuum.
- Having clear documentation, ‘playbooks’ that anticipate the knowns and the unknowns, helps to address the problem methodically, calmly and quickly.
- Determine who needs to be involved in the recovery; who needs to know. Clear and frequent communication—to the right people— is vital.
- The time to create your disaster recovery plan is well before you need to implement it.
6 min read
GLOBAL
Kenneth Foster | VP IT Governance,
Risk and Compliance
FLEETCOR Technologies
Kenneth Foster is Vice President, IT Governance, Risk and Compliance for FLEETCOR Technologies. He is an accomplished CISO with 20+ years’ experience and a proven track record of implementing Cyber Security programs and strategy, joining FLEETCOR in 2021. He is also a US Navy veteran with expertise in Information Risk, Governance, and IT enterprise operations and enterprise architecture in the public and private sectors.
Ken is a transformational leader who excels at developing and implementing strategic, technical, and operational security/infrastructure architectures that are aligned with business goals and objectives using a risk based methodology. He is an innovator in his field, utilizing technology and processes effectively to minimize operational risk, cost, and increase operational efficiency to meet business goals by building a strategy that becomes a business differentiator
05
Cybersecurity and disaster recovery
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Mauris accumsan libero urna, volutpat scelerisque ligula dapibus eu. In pulvinar quam et ante viverra consequat. Vestibulum vel nulla gravida lorem fermentum faucibus. Phasellus eget porttitor lectus, nec venenatis lacus. Praesent viverra mi maximus pulvinar mattis. In fermentum sit amet diam ac egestas. Etiam non aliquet nisi, ac gravida quam.
Integer ultrices, nisl non dictum pharetra, purus mi auctor lectus, in dapibus nibh lectus a metus. Phasellus vitae purus cursus, porta sapien sed, suscipit arcu. Pellentesque ac est sagittis, porta sem vitae, semper dui. Integer vel ex eget arcu condimentum pellentesque et a ante. Nunc non tincidunt quam.
Donec id mi blandit, lobortis purus vel, iaculis elit. Ut imperdiet iaculis magna, in facilisis mi euismod sed. Vestibulum ante ipsum primis in faucibus orci luctus et ultrices posuere cubilia curae; Nam nec quam nunc.
# min read
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Name | Title
Corpay Cross-Border Solutions
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Nullam eget congue neque, non faucibus neque. Maecenas vitae vehicula ligula. Duis eu sapien fringilla, consectetur urna tristique, tempor turpis. Aenean turpis elit, tempor eget ex eu, aliquam porta erat. Nulla enim ante, dapibus pulvinar posuere vel, commodo et augue. Morbi placerat lectus non volutpat laoreet. Etiam ultricies faucibus ante, ac bibendum magna.
06
Counterparty Risk
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Mauris accumsan libero urna, volutpat scelerisque ligula dapibus eu. In pulvinar quam et ante viverra consequat. Vestibulum vel nulla gravida lorem fermentum faucibus. Phasellus eget porttitor lectus, nec venenatis lacus. Praesent viverra mi maximus pulvinar mattis. In fermentum sit amet diam ac egestas. Etiam non aliquet nisi, ac gravida quam.
Integer ultrices, nisl non dictum pharetra, purus mi auctor lectus, in dapibus nibh lectus a metus. Phasellus vitae purus cursus, porta sapien sed, suscipit arcu. Pellentesque ac est sagittis, porta sem vitae, semper dui. Integer vel ex eget arcu condimentum pellentesque et a ante. Nunc non tincidunt quam.
Donec id mi blandit, lobortis purus vel, iaculis elit. Ut imperdiet iaculis magna, in facilisis mi euismod sed. Vestibulum ante ipsum primis in faucibus orci luctus et ultrices posuere cubilia curae; Nam nec quam nunc.
# min read
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Name | Title
Corpay Cross-Border Solutions
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Nullam eget congue neque, non faucibus neque. Maecenas vitae vehicula ligula. Duis eu sapien fringilla, consectetur urna tristique, tempor turpis. Aenean turpis elit, tempor eget ex eu, aliquam porta erat. Nulla enim ante, dapibus pulvinar posuere vel, commodo et augue. Morbi placerat lectus non volutpat laoreet. Etiam ultricies faucibus ante, ac bibendum magna.
07
Compliance Risk
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Mauris accumsan libero urna, volutpat scelerisque ligula dapibus eu. In pulvinar quam et ante viverra consequat. Vestibulum vel nulla gravida lorem fermentum faucibus. Phasellus eget porttitor lectus, nec venenatis lacus. Praesent viverra mi maximus pulvinar mattis. In fermentum sit amet diam ac egestas. Etiam non aliquet nisi, ac gravida quam.
Integer ultrices, nisl non dictum pharetra, purus mi auctor lectus, in dapibus nibh lectus a metus. Phasellus vitae purus cursus, porta sapien sed, suscipit arcu. Pellentesque ac est sagittis, porta sem vitae, semper dui. Integer vel ex eget arcu condimentum pellentesque et a ante. Nunc non tincidunt quam.
Donec id mi blandit, lobortis purus vel, iaculis elit. Ut imperdiet iaculis magna, in facilisis mi euismod sed. Vestibulum ante ipsum primis in faucibus orci luctus et ultrices posuere cubilia curae; Nam nec quam nunc.
# min read
GLOBAL
Name | Title
Corpay Cross-Border Solutions
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut finibus vestibulum mattis. Duis convallis vulputate mi. Proin sagittis quam quam. Suspendisse dolor justo, feugiat sit amet sapien et, aliquet viverra nisl. Maecenas sagittis sem quis sapien scelerisque suscipit. Morbi iaculis mi elit. Aliquam molestie molestie lorem, non sollicitudin justo molestie a.
Nullam eget congue neque, non faucibus neque. Maecenas vitae vehicula ligula. Duis eu sapien fringilla, consectetur urna tristique, tempor turpis. Aenean turpis elit, tempor eget ex eu, aliquam porta erat. Nulla enim ante, dapibus pulvinar posuere vel, commodo et augue. Morbi placerat lectus non volutpat laoreet. Etiam ultricies faucibus ante, ac bibendum magna.
08
Disaster Planning
GLOBAL
32 min read
Executive summary: