Doron Cohen is CEO of Covercy. He founded the company in 2015 to break the stranglehold the traditional banks have on the international business money transfer market (with 95% of payments around the world handled by them in this sector).
During his days as a co-founder and co-CEO of Leverate, a leading forex technology provider, he saw how expensive the SWIFT international payments network was. Unlike others, coming from the FX world, he knew that it could be done differently - and Covercy was born.
He set the company up to reduce this cost to businesses by 20-80% and level the playing field for SMEs and is an outspoken critic of the SWIFT international payment network, going so far as to suggest it “is dead”. A transaction with his company takes typically 24 hours and it is fully licensed by the UK’s Financial Conduct Authority (FCA) as an authorised payment institution.