TreasuryXpress and Ebury Partner to Offer On-Demand FX and Treasury Solution
New York – TreasuryXpress, the global provider of on-demand treasury management solutions today announced its partnership with Ebury Partners to empower mid-market treasuries with broader access to more cost-effective cross-border transaction banking services through intelligent end-to-end trading and treasury solution.
“Ebury exists to remove boundaries that traditionally prevent businesses from achieving their growth objectives,” says Thomas Fakhouri, Head of Technology Partnerships at Ebury. “Small and medium sized organizations often deal with significant FX and transaction banking complexities but lack the large banking resources and structures required to optimize and economize their FX programs.”
According to Tom Leitch, Chief Operating Officer of TreasuryXpress, this is where the joint offering comes into play.
“What we have created with our integrated solution, is a single platform where clients can handle the entire lifecycle of an FX trade,” notes Leitch. “From accessing the best, most competitive rates to executing the trade and settlement through to creating the accounting entries, we have removed the cost and resource barriers associated with traditional FX trading. We have enabled our clients to reduce the cost of their FX trading programs while optimizing their treasury management operations.”
Users of the solution access highly affordable rates for their FX trades powered by Ebury, while signed into TreasuryXpress. Without ever leaving the TreasuryXpress treasury management system (TMS), users can book and confirm their FX trades. Once the trade is confirmed, a forecast entry is automatically created in the TMS. Clients reduce the cost of their FX trades while improving the accuracy of their cash forecasting and bank reconciliation efforts. Clients will also have full access to Ebury’s capabilities, such as multi-currency accounts, competitive international payments and trade finance.
The joint solution characterizes the on-demand technology model of TreasuryXpress. Powered by API protocols, the Ebury and TreasuryXpress partnership reduces the length of traditional TMS and FX solution integration and implementation projects.
“With this partnership, we have achieved an ‘integration-on-demand’ model,” continues Leitch. “Many TMS providers have taken the route of acquiring FX risk management and currency solutions which often take months or years to integrate into a single solution. And in the end, it is usually the client that suffers from lengthy integration periods and costs. With our model, clients can be up and running in a matter of days – accessing the best FX rates and streamlined technology experience available.”
Leitch concludes, “We are extremely pleased to partner with a FinTech innovator such as Ebury to deliver on our shared vision of making financial technology frictionless and accessible to the mid-market treasurer.”
According to both firms, the integrated offering has already been positively accepted in the mid-market by joint clients looking to gain better FX rates and cash management efficiencies.