Nium launches Global FX to solve risk of currency fluctuations & cash flows
By Gloria Mathias
Nium has announced the launch of Nium Global FX, a product that allows for guaranteed and competitive FX rates.
This includes the ability to lock and hold an FX rate for up to 24 hours and settle FX conversions on a future scheduled date, which helps businesses mitigate the risk of currency fluctuations and improve cash flow.
Global FX allows businesses to lock and hold funds in more than 60 different currencies, allowing for instantaneous payments to employees and vendors worldwide, while Nium’s transparent pricing structure ensures that businesses can conduct FX trades with a simple, single markup.
The company also introduced the FX rate comparison calculator, which enables real-time access to the last interbank rates as well as access to historical rates so you can compare costs from other providers and reveal the hidden markups and fees.
“Our technology teams have been working hand in glove with customers to solve some of the hardest pain points to moving money globally in real-time,” said Ramana Satyavarapu, CTO at Nium. “Our payments infrastructure has the most logistics capabilities so that customers have complete transparency and visibility into where their money is and how much it costs to send. Gone are the days of cross-border money movement being an opaque black box. We’re bringing global business payments into the light.”
Additionally, Nium announced a suite of products and features focused on transparency, predictability, and reliability, including the Nium Chronometer, which optimises payment routing for time, market availability, and cost efficiency with artificial intelligence and machine-learning-driven payment delivery estimation.
The revolutionary payment routing solution addresses the challenges of managing manual payment processes through multiple intermediaries.
With these introductions, Nium empowers banks, businesses, and platforms to address some of the barriers to real-time global money movement by streamlining global payment operations and logistics, making it easier for developers to test integrations, routing payments optimally, and mitigating FX risk.
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