moneycorp, the foreign exchange and international payments specialist, has announced a partnership with Achilles, global leaders in supply chain risk and performance management. The partnership will enable Achilles customers to access cost effective expert advice on international payments and currency exchange, which will reduce supply chain currency costs and increase efficiency.
Achilles’ worldwide network of buyers and suppliers will now be able to streamline business payments using moneycorp’s innovative single IBAN multi-currency international banking solution. Offered by moneycorp bank, this solution allows payments across 39 currencies, thus opening up opportunities in new markets and regions across the world.
Launching with immediate effect, features include:
- Lower costs and increased efficiency – real-time access into a significant panel of top-tier global providers for foreign exchange liquidity and an integrated payments network
- Payment accuracy – beneficiary details can be pre-validated routed to ensure consistent straight-through processing
- Rich data – accurate reporting for account reconciliation and true cash positions intra-day
Strong supply chain management is more important than ever. With international trading risks currently in the spotlight because of Brexit and Covid-related uncertainty, finance and procurement departments ocusing on diversification and cost-saving when it comes to overseas transactions. To protect themselves from over-reliance on generalist banking providers, businesses are now turning to international trade specialists such as moneycorp, to help them navigate the challenges and potential risks of new markets overseas.
To drive ease of use and transparency in international transactions, the partnership will give Achilles customers direct access to moneycorp’s Innovation Team, who can tailor Bulk Payments solutions and ERP integration via moneycorp’s full-service API. In addition, Achilles customers will be able to access faster payments to Brazil, facilitated by moneycorp Banco de Câmbio, one of only five FX banks to be licensed by the Central Bank of Brazil.
Lee McDarby, Managing Director of U.K. International Payments at moneycorp said:
“At moneycorp, ease, speed and security are our priorities for businesses trading overseas. This is why we are delighted to partner with Achilles, who are renowned and admired for their global expertise in helping thousands of businesses within their global community to navigate risk and complexity, ultimately facilitating better global trade.
“Like companies across the globe, they have been busy throughout 2020 helping their customers rise to the challenges and disruption the year has brought us. Managing currency risk is arguably more important than ever given the volatile global environment and we’re excited to extend moneycorp’s international payments and banking expertise through an exciting new partnership that will help to drive high standards in supply chain management into 2021 and beyond.”
Katie Tamblin, Chief Product Officer at Achilles commented:
“We’re delighted to be partnering with moneycorp. They have over 40 years’ experience advising customers like ours on currency exchange and international payments. Covid-19 has hit global trade hard, and so for Achilles customers, whether they trade internationally, or aspire to do so, this is a really valuable addition to our offering. As global markets become more important and accessible than ever, managing foreign exchange fluctuations and having cost effective expert advice is critical to success.”