Monex USA integrates with Payments Exchange from Fiserv

By Delisha Fernandes

Monex USA, a global payment, corporate FX, and currency risk hedging services provider, has announced plans to integrate with Payments Exchange from Fiserv, a global provider of payments and financial technology.

This integration will allow financial institutions that utilise Payments Exchange to work directly with Monex USA as a foreign exchange partner to complete international wire transfers.

“Monex USA’s integration with Payments Exchange will expand financial institutions’ service offerings for their clients,” said Mike Rockouski, Managing Director of Financial Institutions at Monex USA. “This integration underscores our commitment to meeting the cross-border payment needs of financial institutions and solidifying our position as a trusted partner in digital payment solutions.”

Payments Exchange streamlines the wire transfer process, enabling straight-through processing and a paperless transaction environment. Payments Exchange: Foreign Exchange services enable end-to-end international wire transfers with one-step wire entry for foreign exchange, helping minimize the time and effort required to manage global payments.

“Monex USA simplifies international transactions,” said Mark Hill, Managing Director of Financial Institutions at Monex USA. “Our focus on automating complex processes, along with our commitment to exceptional service, empowers financial institutions to access a diverse range of foreign currency and funds transfer solutions. This not only strengthens existing customer relationships but also expands their customer base.”

Payments Exchange has connectivity to multiple global financial networks, allowing it to serve as a single access point to multiple payments channels.

“International wires are often a lifeline for consumers and a necessary service for business,” said Justin Jackson, Senior Vice President of Enterprise Payments at Fiserv. “The integration of Monex USA with Payments Exchange will allow banks and credit unions to access another option to facilitate these foreign exchange payments, enabling a more seamless experience for both the financial institution and their clients.”