Bank of Ireland Global Markets has today announced that it is expanding its U.S. customer offering by launching Bank of Ireland Global Payments – a foreign exchange and payments service in partnership with WorldFirst.
This unique alliance between a FinTech company and a traditional bank will allow businesses in the U.S. to make fast and safe international payments with no transfer fees.
Recent research amongst U.S.-based small and medium-sized enterprises (SMEs) highlights that many are looking for a more efficient and cost-effective way to make international payments. Bank of Ireland’s new solution with WorldFirst affords business customers access to a dedicated user-friendly service that is available 24/7 with competitive foreign exchange rates and no transfer fees.
Speaking about the alliance, Darsh Mariyappa, Head of Bank of Ireland Global Markets U.S., said, “As a long-established supplier of treasury services across North America, we are constantly innovating in order to enhance the overall customer experience, and we are therefore delighted to announce our new international payments partnership with WorldFirst.”
“Our research has clearly shown that U.S.-based companies have a strong appetite for a fast, secure, easy and efficient alternative to their traditional solution for international payments,” said Mariyappa. “Bank of Ireland’s new service with WorldFirst will ensure that business customers have access to a seamless interface that offers great rates, no transfer fees and is powered by a platform that customers can trust.”
Speaking at the launch, Alex Arnold, Global Head of Partnerships for WorldFirst said, “This partnership represents a great example of traditional banks innovating to meet their clients’ needs by working with FinTech companies. The FinTech sector has improved the opportunities available to U.S. SMEs when it comes to working globally. Research told Bank of Ireland there was an opening in the market and our international payments solution meets that need.”
“WorldFirst and Bank of Ireland have a lot in common with strong ties back to European headquarters, a desire to build long-term relationships with our clients and constantly striving to improve our respective product offerings. This represents an exciting partnership, opening up a more diverse client base for Bank of Ireland and we’re delighted to be working together,” said Arnold.
The online product range will include spot contracts, bulk payments, regular transfers and forward contracts, and is suited to businesses across all sectors looking for a better solution than their main banking provider for their international payments needs.