back Back

Crown Agents Bank & AbbeyCross sign FX payments partnership

By Gloria Methri

May 21, 2024

  • AbbeyCross
  • ABX Platform
  • Cross Border Payment
Share

Crown Agents Bank, AbbeyCross, FX Payments, cross-border payments, ABX Platform, FinTech, UKCrown Agents Bank, a UK-regulated bank specialising in FX and cross-border payments, has announced a strategic partnership with AbbeyCross.

The partnership aims to provide FX Payments to emerging markets via the ABX Platform, a marketplace for emerging market foreign exchange and payments. Crown Agents Bank is one of the first banks to join the ABX Platform as a payment provider.

The bank handles cross-border payments in 100+ currencies across 700+ currency pairs. Through the ABX Platform, Crown Agents Bank will provide AbbeyCross users with competitive Emerging Market FX rates, efficient access to its global network and innovative cross-border payment solutions for fast and efficient settlement.

The ABX Platform provides direct access to multiple payment providers for competitive, payment-relevant FX rates in emerging market currencies. Through a single integration, wholesale market participants, including commercial banks, Money Services Businesses (MSBs), NGOs and Charitable Trusts, can access transparent and relevant pricing information for EM currencies.

Users will be able to compare multiple rates and service providers, which will allow payment providers to reach a much wider and deeper network of potential customers.

Colin Digby, Head of Strategic Client Coverage of Crown Agents Bank, said, “Financial institutions are struggling to access hard-to-reach markets, especially as counterparties retreat from these increasingly underserved and challenging geographies. This is why the AbbeyCross ABX Platform is so important. It addresses the technical integration challenges and the transparency dynamic as it provides an easy single access point to these markets via multiple LPs. It’s a real game changer for us, the institutions we serve and the wider market.”

Mike Robertson, CEO and Co-Founder of AbbeyCross said, “We are excited to have Crown Agents Bank join the ABX Platform as a founding payment partner. Their longstanding and rich experience in the Emerging Market FX and payments space builds on our mission to offer an enhanced user experience with greater provider choice, enhanced price transparency and a more efficient settlement experience, in turn enabling market participants to deliver better service levels to their customers and stakeholders.”

Previous Article

May 21, 2024

Coforge & Fiorano rolls out ISO 20022 Compliance as a Service (ICaaS)

Read More
Next Article

May 21, 2024

Navro launches local accounts for business customers

Read More






IBSi Daily News Analysis

cybersecurity,

June 20, 2024

AbbeyCross

Why predictive AI is a critical necessity in the field of cybersecurity

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

4 Open Banking platforms shaping the future of financial data in the US

Read More

Today

Discover Global Network & NETS expand payment acceptance in Singapore

Read More

Today

TerraPay & Thredd to power virtual card payments for the travel industry

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023