- Company adds streamlined payments functionality for banks while continuing to offer innovative services to corporate and charitable clients
LONDON – INTL FCStone Inc. (NASDAQ:INTL) today announced that its London-based subsidiary, INTL FCStone Ltd’s Global Payments Division (“GPD” or “the Company”), has enhanced its proprietary FXecute global payments technology platform with the addition of streamlined functionality that bridges its client’s foreign exchange and payments services.
FXecute is INTL FCStone Ltd’s proprietary global payments platform that provides clients with a one-stop solution for making payments in more than 175 countries. Clients have access to live currency market rates, and can seamlessly execute payments in more than 140 currencies, which includes the world’s roughly 90 exotic currencies used in the developing world. This enhanced and customizable solution can easily adapt to the nuances of each client’s internal procedure whilst ensuring that they are maintaining proper controls for their international payments. The system also provides integration solutions via our Web Services API which clients can use to retrieve rates and execute trades. Additionally, FXecute now enables clients to make payments using the local ACH system, ensuring seamless and less expensive payments while eliminating execution gridlocks. The Company has onboarded a multitude of its correspondent bank partners in developing countries for ACH functionality in order to provide uninterrupted payment delivery in local currency for those clients sending money to these markets.
Carsten Hils, Global Head of INTL FCStone Ltd’s Global Payments Division, commented on today’s news, “We are committed to maintaining an open dialogue with our customers and continually improving the services that we offer based directly on their feedback, and the recent enhancements to FXecute directly serve the needs of our major bank clients. Payments technology changes at a rapid pace, and these additions to FXecute ensure that it remains the industry-leading payments execution service for exotic currencies. We have utilized our more than 20 years of experience in providing payments to the developing world, as well as the expertise of our best-in-class information technology team, to provide our customers with an even more efficient, secure, and effective global payments platform.”