Virtual IBAN and corporate account provider Monneo has partnered with Kantox to offer currency management automation on cross-border payments.
Kantox, With its currency management automation technology, Kantox said it helps businesses to fully automate and streamline their end-to-end foreign exchange (FX) workflow, allowing them to be better protected from risk and helping to increase their competitiveness.
The new partnership means Monneo can now offer this automated solution to those using its service. In doing so, the FinTech said it is helping to provide its customers with more flexibility when managing outgoing payments.
With Kantox’s assistance, Monneo’s customers can perform immediate foreign exchange transfers across different forms of currency, while removing FX risk. What’s more, businesses can use Monneo’s service to make payments in more than 130 different currencies and can choose and connect to eleven banks in its banking network.
The companies said they share the collective goal of accelerating digital growth and transformation within the financial sector. By offering customers a modern, intuitive solution for financial transactions, this partnership is a step towards achieving that goal. The partnership is also helping to give businesses the power to “bank beyond borders in a frictionless manner,” the companies said.
Michael Schimmel, chief commercial officer at Kantox, said, “It’s great to see Kantox’s solution incorporated into Monneo’s exciting service. Despite specialising in different areas, our two companies share a number of important goals, which helps to make us naturally aligned. Now, we’re excited to see how this partnership agreement benefits customers, particularly when it comes to conducting financial transfers across borders.”
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