Institutionally focused institutional prime of prime broker TopFX has signed a new partnership deal with AI-focused payments technology provider BridgerPay. The deal will enable clients of TopFX to get exclusive terms, while startup brokers benefit from a speedy deployment to market using the integrated all-in-one offering from TopFX.
TopFX has been present in the institutional liquidity market for over a decade delivering tailored solutions to brokers of all sizes. The core offering of the company’s new product is centered on providing multi-asset Tier-1 liquidity via Spotware’s cTrader trading platform suite.
Commenting on the partnership, the CEO of TopFX, Alex Katsaros, said: “BridgerPay impressed us with their technology and innovative solutions. Brokers who choose to onboard will be able to easily add many PSPs without further integration, therefore achieving significant improvements in their transaction approval ratios.”
BridgerPay’s main goal with the partnership is to optimize the payments component of the All-in-One Solution of TopFX by increasing clients’ transactions approval ratios. The company’s product is addressing a key issue for brokers – fragmentation.
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By identifying and routing transactions based on different currencies, volumes, and regions, BridgerPay’s AI-based system is routing different payments via the best-possible payment provider for each case.
The company’s neutral gateway is constantly connected to multiple payment providers via one central admin interface which brokers can use to trace the best payments channels. BridgerPay’s product, therefore, can save integration time to brokers by enabling access to different PSPs, APMs, local providers or wire solutions via a single gateway.
The broker can configure every payment solution to operate in specific countries, currencies, choose volume allocations, among many other options. Increased approval ratios via BridgerPay’s router service are achieved thanks to a process of cascading transactions through the right providers for each route.
Commenting on the advantages of the solution, the CEO of BridgerPay, Ran Cohen, said: “Any client using this solution will be able to add, manage, and optimize multiple payments providers from a single interface. At the same time, they will be able to offer their end clients the unique ability to deposit funds in their preferred currency and payment method via a unified payment page and directly within the trading platform, whether it’s from their mobile or desktop.”
Cohen launched his new venture earlier this year and has attracted the attention of KPMG’s FinTech Start Up Program. According to BridgerPay’s CEO, the consulting giant will guide the firm through its upcoming fundraising rounds. Back in March, the company announced the hire of Bjorn Enqvist as Head of Sales.