Unicaja Banco is partnering with cross borders corporate payments fintech Ebury Partners.
The strategic alliance provides global transactional services and foreign exchange to Unicaja’s 400,000 SME and 3 million retail customers.
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As a result of the deal, Unicaja´s customers can now:
- make international payments in more than 100 currencies;
- collect over 40 currencies across Europe, APAC, Africa and South America;
- use dedicated currency accounts in over 20 countries,
- and access flexible foreign exchange risk management tools for over 130 currencies, via one platform 24/7, from any location.
Ebury was founded in London in 2010. It now serves over 35,000 SMEs and institutions around the globe and executes over $2bn per month in transactions.
Moreover, it has become the biggest fintech global transaction platform to help businesses trade internationally.
Ebury: disintermediation of transaction services accelerates
Ebury says its rapid growth reflects the trend of disintermediation of transaction services, as banks focus on their core offerings.
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By GlobalDataUnicaja Banco is the 7th largest bank in Spain by market capitalisation. Headquartered in Malaga, Unicaja operates a branch network of almost 1,200 outlets.
“I am delighted that Unicaja, one of Spain’s largest banks, has chosen to work with Ebury. Our tailored solution is a cost-efficient way for Unicaja to reverse the trend of banks retrenching the services they provide to SMEs. It marks an important improvement in its capabilities,” says Juan Lobato, Ebury’s co-founder and CEO.
“This partnership is further validation of our strategy. That is to deliver high-quality, efficient cross-border transactional services to SMEs that have difficulty accessing services via a single platform. In partnership with Ebury, banks can help businesses grow internationally while reducing the cost and risk of cross-border transactions.”
Pablo Gonzalez, Unicaja Banco’s CFO adds: “This agreement with Ebury gives a huge competitive advantage to Unicaja’s customers that currently trade internationally or wish to do so.”
