London-based foreign exchange FinTech Ebury has signed a partnership with Portuguese bank Crédito Agrícola.
The deal is aimed at empowering the bank’s corporate clients to carry out foreign currency exchange and cross border transactions completely online, enabling them to trade in more than 130 currencies at more competitive rates.
“This partnership is in line with CA Group’s innovation strategy, offering its customers a service that helps businesses mitigate risks arising from international trade,” said Licínio Pina, president of Crédito Agrícola.
Duarte Líbano Monteiro, country manager for Ebury Portugal, added, “Ebury is delighted to be part of this pioneering partnership with a bank that is treading the path of innovation. It is the first time that a Portuguese bank has partnered with a FinTech to provide this service to companies, streamlining their international transactions and allowing them to consolidate their internationalisation.”
Ebury was launched in the UK in 2009. Since then it has grown to have 25 offices in 21 countries across four continents. Over 1,000 people work for the company.
In November 2019, Banco Santander, the Spanish bank, invested £350m into Ebury, That deal also saw Santander acquire a 50.1% stake in Ebury.
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