INTL FCStone launches cross-border payments intelligence portal

Global Payments Network aims to give clients actionable news and analysis from local markets

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Transacting worldwide: "We possess deep and unique knowledge of local markets because we liaise directly" – Carsten Hils, INTL FCStone

INTL FCStone’s global payments division has launched a proprietary intelligence portal for cross-border payments called the Global Payments Network (GPN), aimed at providing clients with access to actionable market news and analysis to aid their foreign exchange and other business transactions.

The global payments division specialises in transferring funds to the developing world. GPN will leverage the division’s relationships with approximately 300 global correspondent banks, regulators and other market participants, so clients gain the information they need to understand the factors affecting their cross-border payments and FX transactions.

“The GPN provides our clients with all of this market-moving information through a single, comprehensive portal, ensuring they are armed with the intelligence necessary to most effectively transact cross-border payments and understand foreign exchange considerations,” said Carsten Hils, global head of the payments division at INTL FCStone.

“We possess deep and unique knowledge of local markets because we liaise directly with global correspondent banks, regulators and other market participants as a core element of our innovative business model, and this knowledge equips our customers for success,” he added.

Through its boots-on-the-ground approach and regular communications with decision-makers in places such as Africa, Asia and Latin America, INTL FCStone says its personnel are able to gain unique intelligence, which offers clients better insight into the local market conditions that enable more efficient cross-border payments. With the GPN, clients will be able to access this knowledge through commodity and currencies commentaries, regional insights and global macroeconomic analysis on a real-time basis. They will also gain intelligence on each country’s regulatory requirements, and economic and socio-political factors, which must be considered for successful transactions.

“With more than 20 years of experience in providing payments to the developing world, the global payments division has developed a global network of expert contacts who afford us industry-leading expertise and intelligence in local market conditions, which is critical to the success of our clients’ operations. The GPN provides clients with significant added value through this intelligence, which helps them to make educated decisions on how to process payments effectively. We look forward to onboarding additional clients to the GPN and unveiling enhancements to the portal in the coming months,” Hils said.

In September 2016, the global payments division launched a financial information exchange (Fix) protocol for cross-border payments in exotic currencies, with plans to integrate it with its FXecute platform. The built-in Fix interface in FXecute will allow banks to receive FX pricing seamlessly and transfer funds through a single system, as well as enabling the payments division’s bank clients to immediately establish the true cost of a cross-border payment.

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