Tramonex, an international financial services provider, has embarked on a partnership Saxo Payments, a global transactions services provider, to push more cohesive cross-border transfers for clients, according to a Saxo Payments statement.
The decision to team up with Saxo Payments is noteworthy as it also coincides with its entry into the group’s Banking Circle, a comprehensive marketplace that offers its members the capability to make and receive high-speed cross-border transfers in a secure and compliant cloud-based environment.
The partnership also helps advance Tramonex’ agenda to move away from traditional banking business and segmentation, thereby offering a new way to manage international cash flows. By joining Saxo Payments Banking Circle, the group will also be able to offer its clients individual, physical and virtual accounts with unique International Bank Account Numbers (IBANs).
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Prior to the shift, Tramonex had offered its clients’ accounts from either Tier 1 and 2 international banks. However, the rigors of a dynamic global marketplace have ultimately necessitated a more flexible and efficient service, which Tramonex found in Saxo Payment’s Banking Circle.
According to Amine Berraoui, Chief Executive Officer (CEO) of Tramonex, in a recent statement on the partnership: “In the past, only banks were able to offer ‘account opening’ facilities but these were cumbersome with slow and expensive payments processes, but there was no other choice.”
“However, the Saxo Payments Banking Circle has changed all that. It offers us the ability to empower our clients in a way the traditional banks never could. The transparency provided to our clients, by having their own unique account, with IBAN, in their own name, is market-leading, helping us to stay ahead of competitive offerings,” he added.
“Tramonex aims to put its clients in control of their international working capital, and we are helping them to do that by providing a transparent, efficient and cost effective cross border transfer solution. We look forward to working together to further develop solutions to benefit Tramonex clients in their FX transactions,” explained Anders la Cour, CEO of Saxo Payments, in an accompanying statement.