iBanFirst to simplify forex payments management with new solution

Belgium-based financial services provider, iBanFirst has released a solution that aims to assist companies in overcoming financial challenges including changes in the financial services and banking ecosystem.

The supplier, through its payment engine, is expected to provide technological products to the CFOs. The payment engine has been designed with 50 business specialists, technology experts, architects and data intelligence specialists. This core technology is supported by financial and technical partners specializing in vertical needs (market data, verification of identity documents, monitoring of the risk of customers, etc.).

Oualid Abderrazek, Chief Product Officer at iBanFirst said, “iBanFirst focuses all its know-how and innovation first and foremost on clients in order to ensure the security and transparency of their cross-border payments, and free them up from time-consuming tasks with no added value. We focused our efforts in R&D to create services that save our clients both time and money. What makes us stand out in the crowded ecosystem is the quality of our services.”

According to the supplier, traditional banks nowadays face challenges with respect to the changing banking structure and the lack of qualified experts to rely on. Outsourcing technology requirements also result in a lack of technological independence as well as rising infrastructure costs. To solve this, capabilities provided by the solution include international payments to around 240 countries, registered and customized payment accounts in 30 currencies, provision of a single online platform to connect and view different bank accounts, integration with accounting and treasury software via EBICS, SWIFTNet, etc.


Established in 2013 in Belgium, iBanFirst provides a specialist online platform for multicurrency transactions and enables a payment experience and package of financial services addressing the needs of SMEs in their daily operations.

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