LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
The international financial services provider Tramonex has partnered with global transactions services provider, Saxo Payments, for segregated client accounts in 25 currencies, and FX liquidity. As part of Tramonex’s vision to shift away from classical banking and offer a new way of managing international cash flows, the company has joined the Saxo Payments Banking Circle, and is now able to offer its clients individual, physical and virtual accounts with their own unique International Bank Account Numbers (IBANs).
Tramonex previously offered its clients’ accounts from Tier 1 and 2 international banks. But, responding to the changing global marketplace, the business wanted to be able to offer a more flexible and efficient service, as Amine Berraoui, CEO of Tramonex, explained:
In the past only banks were able to offer ‘account opening’ facilities but these were cumbersome with slow and expensive payments processes, but there was no other choice. However, the Saxo Payments Banking Circle has changed all that. It offers us the ability to empower our clients in a way the traditional banks never could. The transparency provided to our clients, by having their own unique account, with IBAN, in their own name, is market-leading, helping us to stay ahead of competitive offerings.”
Khalid Talukder, Chief Revenue Officer for Tramonex, added:
Our clients are already excited about the opportunity to have access to a more dynamic and fluid banking facility powered by Saxo Payments. We are equally excited to be working with such an innovative company which shares our values for giving control back to the client.
Saxo Payments is constantly challenging the status quo and pushing boundaries to make corporate banking better. With such like-minded visions and goals we see this as the start of a long lasting and highly profitable working relationship.”
Anders la Cour, Chief Executive Officer at Saxo Payments, concluded:
Tramonex shares many of the same concerns and motivators as Saxo Payments, making this partnership an excellent fit. Like us, Tramonex understands the limitations of the current system, customer pain points and market volatility, and has designed solutions that make managing payments and collections not only simpler and more efficient, but also less operationally clumsy.
Tramonex aims to put its clients in control of their international working capital, and we are helping them to do that by providing a transparent, efficient and cost effective cross border transfer solution. We look forward to working together to further develop solutions to benefit Tramonex clients in their FX transactions.”