Crown Agents Bank chosen for payments in Asia and Africa
Crown Agents Bank Ltd (“CAB”) is pleased to announce they have been selected as a new banking partner by Cambridge Global Payments (“Cambridge”), a FLEETCOR company and a provider of integrated cross-border payments and currency risk management solutions. The partnership allows Cambridge to expand its global banking footprint to facilitate payments across emerging and frontier markets in APAC and Africa.
Changing socio-economic dynamics and an increasing prevalence of digital technology are impacting trade and the way organisations do business overseas. A recent Crown Agents Bank study found that in the wake of Brexit, almost two-thirds of UK companies have outreach and expanding plans into Africa alone. CAB’s award-winning service, established network and local expertise spanning across 200 years of history allows it to offer deep liquidity and last-mile termination across 400 currency pairs.
“Since partnering with Crown Agents Bank, Cambridge has added 8 additional currencies to our portfolio and has benefited from demonstrated improvements in the transparency of payments & speed of settlement across frontier and emerging markets” said Mark Frey, president, Cambridge Global Payments. “With Cambridge’s already strong coverage across Europe, North and South America, our partnership with CAB will allow us to further expand our presence across Asia and Africa, providing additional value to our customers.”
Joe Hurley, chief commercial officer, Crown Agents Bank, said: “2021 is proving to be an exciting year for Cambridge as it transitions to its new brand, CorPay. Cambridge is highly regarded worldwide, so we are delighted to have been chosen to support them at this important time for the business”. “Our vision at Crown Agents Bank includes offering our clients cutting edge services that give them every advantage in a competitive environment, particularly in emerging and frontier markets. This partnership enables Crown Agents Bank to continue our rapid digital transformation and dynamic growth and we look forward to our combined success on this journey.”