StoneX partners with NatWest to enhance global FX payment systems
The Payments division of StoneX (StoneX Payments) will supply NatWest with third-party delivery and international FX payment services, allowing the bank’s corporate clients to transfer money to more nations with ease. This partnership will support cross-border payments and expand local payment reach in an additional set of 10 currencies, providing access to customers in markets the bank had not previously serviced. StoneX’s API-driven financial institution platform and extensive network of over 350 correspondent banks will be leveraged.
Thiago Vieira, global head of StoneX Payments, commented on the partnership, saying: “Through its unique solution for financial institutions, StoneX Payments proudly services more than 80 bank customers across the US, EU, UK and APAC regions, including many of the world’s largest and systemically important banks, offering 140+ currencies across 180 countries.” Vieira continued, adding: “Over the last 30 years, we have developed deep expertise in the cross-border payment space and have found tremendous success in partnering with globally recognized institutions that have digital and transformative ambitions. It’s a privilege to be partnering with the team at NatWest, who share our drive to modernize cross-border money movement and we are committed to maximizing the value our offering will bring to them and their clients.”
Abram Tilling, goal lead, Manage my Money, NatWest, stated: “We are delighted that we’re able to introduce 10 new currencies in which our customers can send international payments. Using the StoneX Payments’ channels provides our customers with the certainty of value received at destination, avoiding charges from intermediary banks while providing transparency in pricing. NatWest continues to support the global ambitions of our customers with payment currency choices that enable them to choose from a broader supplier network with reduced processing cost and access to improved terms.”
StoneX Payments’ proprietary network and infrastructure will play a central role in the collaboration, ensuring NatWest customers have access to competitive foreign exchange rates and a seamless payment experience. StoneX Payments’ offering to NatWest includes clarity at the inception of the payment transaction regarding the precise amount of funds to be delivered to their desired destination.
StoneX Payments’ partnership with NatWest represents the StoneX Payments’ commitment to providing competitively priced, transparent, and highly scalable payment solutions for businesses, financial institutions, and international development organizations worldwide. The collaboration is expected to simplify cross-border transactions, reduce costs, and make it easier for NatWest commercial customers to make more international payments in Bankline.
