StoneX Financial Ltd, a subsidiary of StoneX Group Inc., has
joined forces with NatWest Group PLC. This strategic partnership aims to transform
NatWest’s international payments capabilities, offering clients seamless
cross-border FX services.
Under this collaboration, StoneX Payments, the payments
division of StoneX, will provide NatWest with third-party delivery and
international FX payment services. This integration will empower NatWest’s
corporate clients to transfer funds to a wider array of nations. Notably, the
partnership will facilitate cross-border payments and extend the bank’s local
payment reach across an additional set of 10 currencies, effectively granting
access to markets previously beyond their service scope.
Thiago Vieira, Global Head of StoneX Payments, Source: LinkedIn
Thiago Vieira, the Global Head of StoneX Payments, commented on
the partnership: “Over the last 30 years, we have developed deep
expertise in the cross-border payment space and have found tremendous success
in partnering with globally recognized institutions that have digital and
transformative ambitions. It’s a privilege to be partnering with the team at
NatWest, who share our drive to modernize cross-border money movement and we
are committed to maximizing the value our offering will bring to them and their
clients.”
Central to the alliance is StoneX’s API-driven financial
institution platform, bolstered by its network comprising over 350
correspondent banks. Leveraging this infrastructure, NatWest will be equipped
to deliver enhanced foreign exchange rates and a frictionless payment
experience to its clientele.
StoneX partners with NatWest to enhance global FX payment systems https://t.co/ri3OFmxXwS
— Business Money (@BusinessMoney) April 17, 2024
Payment Clarity and Competitive FX Rates
StoneX Payments ‘ proprietary network and infrastructure will
serve as the cornerstone of this collaboration, ensuring NatWest customers
benefit from competitive foreign exchange rates and transparent payment
processes. Notably, StoneX Payments will provide NatWest with clarity at the
inception of each payment transaction, offering precise details regarding the
amount of funds to be delivered to the desired destination.
Abram Tilling, the Goal Lead of Manage my Money at NatWest, stated:
“We are delighted that we’re able to introduce 10 new currencies in which our
customers can send international payments. Using the StoneX Payments’ channels
provides our customers with the certainty of value received at destination,
avoiding charges from intermediary banks while providing transparency in
pricing.”
StoneX Financial Ltd, a subsidiary of StoneX Group Inc., has
joined forces with NatWest Group PLC. This strategic partnership aims to transform
NatWest’s international payments capabilities, offering clients seamless
cross-border FX services.
Under this collaboration, StoneX Payments, the payments
division of StoneX, will provide NatWest with third-party delivery and
international FX payment services. This integration will empower NatWest’s
corporate clients to transfer funds to a wider array of nations. Notably, the
partnership will facilitate cross-border payments and extend the bank’s local
payment reach across an additional set of 10 currencies, effectively granting
access to markets previously beyond their service scope.
Thiago Vieira, Global Head of StoneX Payments, Source: LinkedIn
Thiago Vieira, the Global Head of StoneX Payments, commented on
the partnership: “Over the last 30 years, we have developed deep
expertise in the cross-border payment space and have found tremendous success
in partnering with globally recognized institutions that have digital and
transformative ambitions. It’s a privilege to be partnering with the team at
NatWest, who share our drive to modernize cross-border money movement and we
are committed to maximizing the value our offering will bring to them and their
clients.”
Central to the alliance is StoneX’s API-driven financial
institution platform, bolstered by its network comprising over 350
correspondent banks. Leveraging this infrastructure, NatWest will be equipped
to deliver enhanced foreign exchange rates and a frictionless payment
experience to its clientele.
StoneX partners with NatWest to enhance global FX payment systems https://t.co/ri3OFmxXwS
— Business Money (@BusinessMoney) April 17, 2024
Payment Clarity and Competitive FX Rates
StoneX Payments ‘ proprietary network and infrastructure will
serve as the cornerstone of this collaboration, ensuring NatWest customers
benefit from competitive foreign exchange rates and transparent payment
processes. Notably, StoneX Payments will provide NatWest with clarity at the
inception of each payment transaction, offering precise details regarding the
amount of funds to be delivered to the desired destination.
Abram Tilling, the Goal Lead of Manage my Money at NatWest, stated:
“We are delighted that we’re able to introduce 10 new currencies in which our
customers can send international payments. Using the StoneX Payments’ channels
provides our customers with the certainty of value received at destination,
avoiding charges from intermediary banks while providing transparency in
pricing.”
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- Source: https://www.financemagnates.com//fintech/payments/natwest-collaborates-with-stonex-to-expand-cross-border-fx-capabilities/
