Monex USA, which specializes in global payment services, corporate foreign exchange and currency risk hedging services, has announced plans to integrate with Payments Exchange from Fiserv, a global payments and fintech provider.
Integration of bank transfers
This collaboration will enable financial institutions using Payments Exchange to deal directly with Monex USA as their foreign exchange partner for international bank transfers.
“Monex USA’s integration with Payments Exchange will expand the service offerings that financial institutions offer to their customers,” said Mike Rokowski, Managing Director of Financial Institutions at Monex USA.
“This integration underscores our commitment to meeting the cross-border payment needs of financial institutions and strengthens our position as a trusted partner in digital payment solutions.”
Payments Exchange simplifies the wire transfer process, facilitating straightforward processing and creating a paperless transaction environment. The foreign exchange services within Payments Exchange provide end-to-end international bank transfers, simplifying foreign exchange transactions and reducing the time and effort needed to manage global payments.
🚀@Monex_USAyour trusted partner for global payments, corporate FX, and currency risk hedging services, is pleased to announce our integration with Payments Exchange from @Fiservthe leading global provider of payments and financial technology.https://t.co/qkrS1WPSlS
– Monex USA (@Monex_USA) June 4, 2024
Meanwhile, Nick Edgley, CEO of Monex Europe Limited, has resigned from his position after 18 years of service, Finance Magnates reported. He was succeeded by Michael Quinn as the new CEO, overseeing both Monex Europe Limited and Monex Europe Markets Limited. Under Edgley's leadership, the company has grown significantly, expanding to five international offices with more than 300 employees.
Single access point for payments
By connecting to multiple global financial networks, Payments Exchange acts as a single access point for different payment channels.
“International remittances are often a lifeline for consumers and an essential service for businesses,” said Justin Jackson, senior vice president of enterprise payments at Fiserv.
“Integrating Monex USA with Payments Exchange will allow banks and credit unions to access another option for facilitating foreign exchange payments, enabling a more seamless experience for both the financial institution and its customers.”
This article was written by Tariq Sikdar at www.financemagnates.com.