Monex USA Announces Integration with Payments Exchange from Fiserv to Simplify FX Transfers

Monex USA, a company that specializes in global and international payments, corporate FX, as well as currency risk hedge services, recently announced a new integration. According to the recently shared plan, the firm will integrate with Payments Exchange from Fiserv — a global provider of financial and payments technology.

The new collaboration will enable financial institutions that use Payments Exchange to engage directly with Monex USA. In this situation, Monex will act as the foreign exchange partner for international wire transfers.

Advantages of The New Partnership

According to Monex USA’s Managing Director of Financial Institutions, Mike Rockouski, Monex USA’s integration with Payments Exchange will expand financial institution’s service offerings available for its clients.

Furthermore, Rockouski explained that the integration underscores the commitment to meeting the cross-border payment needs of financial institutions. Thanks to the new partnership and the new benefits, features, and services that will come out of it, Monex USA will solidify its position as a trusted partner in digital payment solutions.

Another big change that took place recently is the decision of Nick Edgeley, the CEO of Monex Europe Limited, to step down from his position after 18 years of acting as the firm’s executive. Edgeley was succeeded by Michael Quinn, who became the new CEO, and is now in charge of overseeing both Monex Europe Limited and Monex Europe Markets Limited.

The company grew considerably under Edgeley, expanding to add five international offices to its name and a total of over 300 employees.

The Role of Payments Exchange

Payments Exchange, on the other hand, streamlines the wire transfer process. It can also facilitate straight-through processing, and create a new environment of paperless transactions — all highly beneficial for a company that seeks to evolve to the next level of the payments sector.

Furthermore, the Foreign Exchange services within Payments Exchange can offer even more, such as end-to-end international wire transfers. This can further simplify foreign exchange transactions, and also reduce the time and effort needed to manage global payments.

Payments Exchange also features connectivity to multiple global financial networks, which allows it to act as a single access point for different payment channels. Justin Jackson, Fiserv’s Senior VP of Enterprise Payments, said that international wires are a lifeline or consumers, as well as a necessary service for businesses.

“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,” he added.