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.
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.
Unicaja 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.”