StoneX Financial Ltd, a subsidiary of StoneX Group Inc., has joined forces with NatWest Group PLC. This strategic partnership aims to transform NatWest's international payments capabilities, offering clients seamless cross-border FX services.

Enhancing Global Payment Solutions

Under this collaboration, StoneX Payments, the payments division of StoneX, will provide NatWest with third-party delivery and international FX payment services. This integration will empower NatWest's corporate clients to transfer funds to a wider array of nations. Notably, the partnership will facilitate cross-border payments and extend the bank's local payment reach across an additional set of 10 currencies, effectively granting access to markets previously beyond their service scope.

Thiago Vieira, the Global Head of StoneX Payments, commented on the partnership: “Over the last 30 years, we have developed deep expertise in the cross-border payment space and have found tremendous success in partnering with globally recognized institutions that have digital and transformative ambitions. It’s a privilege to be partnering with the team at NatWest, who share our drive to modernize cross-border money movement and we are committed to maximizing the value our offering will bring to them and their clients."

Central to the alliance is StoneX's API-driven financial institution platform, bolstered by its network comprising over 350 correspondent banks. Leveraging this infrastructure, NatWest will be equipped to deliver enhanced foreign exchange rates and a frictionless payment experience to its clientele.

Payment Clarity and Competitive FX Rates

StoneX Payments ' proprietary network and infrastructure will serve as the cornerstone of this collaboration, ensuring NatWest customers benefit from competitive foreign exchange rates and transparent payment processes. Notably, StoneX Payments will provide NatWest with clarity at the inception of each payment transaction, offering precise details regarding the amount of funds to be delivered to the desired destination.

Abram Tilling, the Goal Lead of Manage my Money at NatWest, stated: “We are delighted that we’re able to introduce 10 new currencies in which our customers can send international payments. Using the StoneX Payments' channels provides our customers with the certainty of value received at destination, avoiding charges from intermediary banks while providing transparency in pricing.”