Fintech Monex To Integrate With Payments Exchange From Fiserv

Monex USA, a partner in global payment, corporate FX, and currency risk hedging services, announced plans to integrate with Payments Exchange from Fiserv (NYSE: FI), a global provider of payments and financial technology.

This integration will allow financial institutions “that utilize Payments Exchange to work directly with Monex USA as a foreign exchange partner to complete international wire transfers.”

Mike Rockouski, Managing Director of Financial Institutions at Monex USA, said:

“Monex USA’s integration with Payments Exchange will expand financial institutions’ service offerings for their clients. This integration underscores our commitment to meeting the cross-border payment needs of financial institutions and solidifying our position as a trusted partner in digital payment solutions.”

Payments Exchange streamlines the wire transfer process, “enabling straight-through processing and a paperless transaction environment.”

Payments Exchange: Foreign Exchange services “enable end-to-end international wire transfers with one-step wire entry for foreign exchange, helping minimize the time and effort required to manage global payments.”

Mark Hill, Managing Director of Financial Institutions at Monex USA, said:

“Monex USA simplifies international transactions. Our focus on automating complex processes, along with our commitment to exceptional service, empowers financial institutions to access a diverse range of foreign currency and funds transfer solutions. This not only strengthens existing customer relationships but also expands their customer base. We’re excited to introduce Monex USA to financial institutions via our integration with Fiserv.”

Payments Exchange has connectivity to multiple global financial networks, “allowing it to serve as a single access point to multiple payments channels.”

Justin Jackson, Senior Vice President of Enterprise Payments at Fiserv, said:

“International wires are often a lifeline for consumers and a necessary service for business. The integration of Monex USA with Payments Exchange will allow banks and credit unions to access another option to facilitate these foreign exchange payments, enabling a more seamless experience for both the financial institution and their clients.”

As covered, Fiserv, Inc. aims “to move money and information in a way that moves the world.”

As a global enabler of payments and financial technology, the company “helps clients achieve results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover cloud-based point-of-sale and business management platform.”