TickTrade Systems Sweetens FX Offering with Payment Solutions

TickTrade enables financial institutions to deploy the solution to best fit their business and operating models.

Toronto-based technology firm TickTrade Systems Inc. has unveiled its new suite of payment solutions, which complements the company’s offering, including an end-to-end FX trading for financial institutions.

The new product enables faster go-to-market for firms looking to tap into TickTrade’s FX risk management and trading platform. With the program, partners can connect to all payment types and integrate into proprietary applications or enable third-party providers. The global payments workflows also help them increase their foreign exchange and payment revenue while managing risk across a dozen markets.

Rather than going through a series of intermediaries when building their offering, TickTrade is giving financial institutions the ability to deploy the solution to best fit their business and operating models.

Although relatively new to the market, their TickTrade FX technology has been adopted by many of North America’s largest banks to optimize access to FX market liquidity and distribute FX rates via a broad range of channels.

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A room in the multi-dealer platform market

Although small vendors such as TickTrade will only grow modestly due to the huge gap between them and the leaders, they still can sell their business in response to increasing demand to connect to multi-dealer platforms.

Earlier in November, the company secured a new investment from SVB Financial Group, the parent company of Silicon Valley Bank, to support its physical presence and growth in the US, Europe, and Asia. In terms of new products, TickTrade said its plans to leverage artificial intelligence (AI) to enable broker partners to better understand the behavior patterns of their clients.

Commenting on the news, TickTrade CEO Baha Ohcebol said, “TickTrade launched our Global Payments solutions to address the concerns we heard from our foreign exchange clients. Leveraging our FX expertise, TickTrade has built a real-time global payments solution designed with the flexibility to deliver tactical or strategic payments solutions while built to be integrated into existing infrastructure.”

Alex Culiniac, TickTrade CPO, added, “Helping financial institutions deliver outstanding products to their customers is TickTrade’s mission. Our real-time global payments solution leverages state-of-the-art technology to give financial institutions of all sizes the tools they need to offer any payment type to any client segment, through any sales channel.”

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