“Monex USA’s integration with Payments Exchange will expand financial institutions’ service offerings for their clients.”
Monex USA has plans to integrate with Payments Exchange from Fiserv to allow financial institutions that utilize Payments Exchange to work directly with Monex USA as a foreign exchange partner to complete international wire transfers.
The firm specializes in global payment, corporate FX, and currency risk hedging services, and the integration of Fiserv’s Payments Exchange would enhance its capabilities by:
- streamlining the wire transfer process, enabling straight-through processing and a paperless transaction environment
- enabling end-to-end international wire transfers with one-step wire entry for foreign exchange, helping minimize the time and effort required to manage global payments
- connect to multiple global financial networks, allowing it to serve as a single access point to multiple payments channels.
“A diverse range of foreign currency and funds transfer solutions”
Mike Rockouski, Managing Director of Financial Institutions at Monex USA, said: “Monex USA’s integration with Payments Exchange will expand financial institutions’ service offerings for their clients. This integration underscores our commitment to meeting the cross-border payment needs of financial institutions and solidifying our position as a trusted partner in digital payment solutions.”
Mark Hill, Managing Director of Financial Institutions at Monex USA, commented: “Monex USA simplifies international transactions. Our focus on automating complex processes, along with our commitment to exceptional service, empowers financial institutions to access a diverse range of foreign currency and funds transfer solutions. This not only strengthens existing customer relationships but also expands their customer base. We’re excited to introduce Monex USA to financial institutions via our integration with Fiserv.”
Justin Jackson, Senior Vice President of Enterprise Payments at Fiserv, added: “International wires are often a lifeline for consumers and a necessary service for business. The integration of Monex USA with Payments Exchange will allow banks and credit unions to access another option to facilitate these foreign exchange payments, enabling a more seamless experience for both the financial institution and their clients.”
Monex USA is part of the wider Monex Group, founded in 1985 and managing US$303 billion in deliverable FX trades and US$11.1 billion worth of assets across the globe, and employing over 2,700 people globally.
