Bank of Ireland Global Markets, a unit of Bank of Ireland, has teamed up with British fintech firm WorldFirst to launch a new foreign exchange and international payments service for its US customers.

The new service, known as Bank of Ireland Global Payments, will include spot contracts, bulk payments, regular transfers and forward contracts.

The service will be rendered to US businesses, free of transfer fees.

Bank of Ireland Global Markets US head Darsh Mariyappa said: “Our research has clearly shown that U.S.-based companies have a strong appetite for a fast, secure, easy and efficient alternative to their traditional solution for international payments.

“Bank of Ireland’s new service with WorldFirst will ensure that business customers have access to a seamless interface that offers great rates, no transfer fees and is powered by a platform that customers can trust.”

WorldFirst global head of partnerships Alex Arnold added: “This represents an exciting partnership, opening up a more diverse client base for Bank of Ireland and we’re delighted to be working together.”

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By GlobalData