OFX and Technosis partner on FX payment solution in Germany

By Gloria Methri

International foreign exchange services provider OFX has teamed up with Technosis to launch an integrated multi-currency payment solution. This solution aims to help businesses in Germany save time with fast, secure cross-border payments and competitive foreign exchange rates.

For businesses looking to make and receive cross-border payments, OFX offers an innovative and competitive alternative to banks. Founded in 1998 and headquartered in Sydney, Australia, OFX helps businesses and consumers make international money transfers in over 50 currencies across 170 countries.

Through its ‘digital + human’ business model, OFX complements its self-service online platform with 24/7 localised customer support. Customers can speak to currency specialists anytime, day or night. OFX specialises in currency risk management for SMEs who trade overseas, helping businesses protect themselves from the risk associated with volatile currency markets.

German finance software company Technosis has integrated functionality into its existing platform to enhance the user experience with simplified FX solutions provided by OFX. This will streamline finance operations for Technosis customers by eliminating the need to juggle multiple payment platforms, lengthy workflows, and manual processes. This integration streamlines the transaction process, reduces transaction costs, and provides real-time tracking and reporting features, making it easier for clients to manage their finances across borders.

Maeve McMahon, President of OFX, EMEA, said, “Germany is a key growth market for OFX. We recognise the Mittelstand’s need for a fast, secure solution to send and receive money internationally at competitive exchange rates, coupled with excellent customer service. Our partnership with Technosis, along with several key hires in Germany, enables us to offer a unique and compelling value proposition. We’re proud to work with Technosis and provide seamless and cost-effective financial solutions to businesses in Germany.”

Dierk Rathjen, COO of Technosis, said, “Technosis has partnered with OFX to provide our clients with access to favourable exchange rates for bank transfers, combined with the exceptional research and service capabilities of an international partner. This partnership enables our clients to utilise the OFX network to establish bank accounts in countries where their current partners are either not present or inaccessible via EBICS. The integration is seamless, ensuring that existing processes remain unchanged.”