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Fiserv Integrates with Monex USA for International Wire Transfers

Fiserv Integrates with Monex USA

Monex USA is known for its global payment and currency risk hedging services. It has recently announced a plan to integrate with Payments Exchange from Fiserv (NYSE: FI), a worldwide provider of payments and financial technology. With this integration, financial institutions using Payments Exchange will be able to collaborate directly with Monex USA for international wire transfers.

Highlights:

  • Monex USA plans to integrate with Payments Exchange from Fiserv.
  • Payments Exchange streamlines wire transfers, making them faster and paperless while simplifying international wire transfers.
  • The integration benefits banks and credit unions, providing a smoother way to handle foreign exchange payments and enhancing global transactions.

The Integration

Mike Rockouski, the Managing Director of Financial Institutions at Monex USA, sounded optimistic. He stated that the collaboration with Payments Exchange will let financial institutions using the platform directly work with Monex USA for international wire transfers. He mentioned that this partnership expands service offerings for their clients and shows their commitment to meeting cross-border payment needs.

Additionally, Payments Exchange streamlines the wire transfer process, making it faster and paperless. Their Foreign Exchange services simplify international wire transfers, making global payments easier to manage.

About Payments Exchange

Justin Jackson, Senior Vice President of Enterprise Payments at Fiserv, mentioned that Payments Exchange acts as a single access point for various payment channels. Thus, it will be connecting to multiple global financial networks. He stated that international wires are crucial for consumers and essential for businesses.

He further explained that the integration of Monex USA with Payments Exchange will provide banks and credit unions with another option to facilitate foreign exchange payments, creating a more seamless experience for both financial institutions and their clients.

Final Words

Therefore, Monex USA’s plan to integrate with Payments Exchange from Fiserv is a big step toward improving international wire transfers for financial institutions. Mike Rockouski is hopeful about the collaboration, saying it will expand service options and meet cross-border payment needs.

Justin Jackson also noted that Payments Exchange is a central hub for various payment channels and emphasised the importance of international wires for consumers and businesses. This integration offers banks and credit unions a smoother way to handle foreign exchange payments, benefiting everyone involved in global transactions.