LONDON – AFEX, one of the world’s largest non-bank providers of global payment and risk management solutions, has appointed Ramnath Ramhit as its new Head of Integrated Solutions for Europe, the Middle East and Africa.
Ramhit, who has over 25 years of experience in the corporate foreign exchange industry, will focus on integrating AFEX’s comprehensive FX and payments infrastructure with clients’ accounting and enterprise resource planning (ERP) systems using its application protocol interface (API) technology. The new role has been created in response to increased demand from corporate clients with high payment volumes looking to streamline their payments processes and from commercial partners such as trade finance, international payroll and legal firms as well as start-ups looking to incorporate AFEX’s payments capabilities as part of their service offering.
“In the last 12 months we’ve seen a significant increase in European corporates using our API to connect their accounting systems with our international payments systems,” said Stuart Holmes, General Manager for EMEA at AFEX. “We expect demand to continue to grow as firms look to reduce the time, cost and frustration associated with managing global payments and we are delighted to welcome someone of Ramnath’s experience and expertise to lead this programme.”
Ramhit joins from HSBC, where he was a director within the investment bank, responsible for the FX and interest rate needs of its corporate clients. Prior to that he was part of the team that founded Thomas Cook Financial Services’ corporate FX division in the early 1990s which launched the world’s first online FX payment platform. Following its acquisition by Travelex in 2000, he joined Travelex’s EMEA leadership team, responsible for dealing sales and customer relationship management. Ramhit is based in AFEX’s London offices on The Strand and will report to Tony Rea, EMEA Sales Director.