Accendo Banco partners with Nium to bolster international payment services

By Pavithra R

Mexico’s leading ‘digital-first’ challenger bank Accendo Banco, focused on providing innovative digital banking solutions has announced expanding its capacity in international payment services through an alliance with Nium, a FinTech platform that offers a global services infrastructure.

International transaction services from Mexico were slow and expensive. Through the partnership, Accendo Banco will further increase its ability to make international money transfers, which will allow its clients to send to more markets abroad and in real-time and supports its clients in their remittance services. Nium, which has already announced alliances in Brazil, Costa Rica and El Salvador, is looking to the collaboration to supports its ongoing plans to use FinTech tools to improve business efficiency and customer experience in Latin America.

“This partnership with NIUM reinforces our position as the leading digital bank in Mexico, we are the first to offer Banking-as-a-service (BaaS) through our cloud-based open banking platform, which allows fintech companies to offer financial services to the entire population, and in particular to those who do not have access to banking services, posted Accendo Banco in its blog.

The alliance with Nium, together with Accendo Banco’s unique digital platform, leads it to a position to offer international money transfers to users easily and in real-time. Clients can leverage the app to send money abroad to major brokers in Europe and Asia at a lower exchange rate than other banks.

“We are very excited to be the trusted provider of international money transfer services for Accendo Banco and its clients. In today’s competitive payments environment, cutting edge technology enhances the customer experience and creates a distinction between providers,” said Rohit Bammi, Global Director of Institutional Sales at Nium.

Founded in 2018, Accendo Banco is a Mexican bank with a focus on clients’ reliable management and global quality standards, without branches and with personalized attention supported by cutting-edge technology. The challenger bank focusses on five main businesses: credit to medium-sized companies, markets (exchange, money market and derivatives), trust, institutional and consumer banking.