INTL FCStone Inc. (NASDAQ: INTL) has announced that its London-based subsidiary, INTL FCStone Ltd’s Global Payments Division (the Company), has opened a new global payments office in Frankfurt, Germany.
Through this operation, located in Frankfurt’s city center, the Company furthers its commitment to its growing global payments client base in the DACH region (Germany, Austria and Switzerland), while expanding its global payments operations.
INTL FCStone Ltd’s Global Payments Division has been active in the DACH region for more than 10 years and has a substantial, existing client base of aid & development organizations, national and international banking organizations and corporate entities, including a longstanding partnership with one of the largest banks in the region. The Company’s relationship with its partner spans a decade long, having facilitated cross-border transactions for the bank and its clients in more than 140 currencies, including the ~90+ exotic currencies used in developing world countries. With the new Frankfurt office, the Company will now be able to serve its customers in the DACH region more directly through on-the-ground personnel that are highly knowledgeable about the local markets.
Jan Kolk, SVP, INTL FCStone Ltd., commented on today’s news:
We are proud to establish a more meaningful physical presence in Frankfurt through our new office, and excited to provide our clients in the DACH region with enhanced cross-border payments, treasury, and foreign exchange services. We have been the industry leader in institutional global payments for almost 30 years and are building upon our successful business through this push into Frankfurt, one of the world’s most important financial markets. I’m looking forward to running our DACH operations out of Frankfurt and would like to thank our team for making this possible as well as our partner for their longstanding support as a cornerstone client in the region.
INTL FCStone Ltd’s Global Payments Division facilitates payments in local currency in more than 140 currencies and more than 175 countries. The Company maintains an extensive network of approximately 300 local correspondent banks worldwide and leverages these trusted relationships to ensure efficient and secure cross-border payments in many countries where transparency is otherwise limited. INTL FCStone Ltd team members regularly liaise with these banks, government and regulatory bodies, and other market participants to source unique local intelligence that is critical to successful payments and foreign exchange operations. The Company offers payments solutions to global financial institutions including eight of the top ten in the Euromoney 2017 survey of FX Market Share, in addition to international aid and development organizations, non-governmental organizations, and multinational corporations.
I am pleased to have good support of team members based in Germany and elsewhere in the DACH region. We therefore have unmatched knowledge of the local markets, but also have unique insights into the payments and foreign exchange conditions for countries around the world given our global correspondent banking relationships. We are proud to utilize this intelligence, as well as our suite of technology solutions, to bring efficiency and security to the payments process, and look forward to expanding our footprint in the DACH region with the onboarding of new accounts.