What is this Solution?
A multi-currency, virtual IBAN account integrated directly with foreign exchange services and a global payments network. This solution allows you to maintain, manage and distribute funds in up to 39 currencies from one single account. Virtual IBANs enable businesses to segregate remittance flows with 100% accuracy and without the need for reconciliation via a master account. From you and your customer’s perspective, either sender or receiver, a virtual IBAN works in the same way as a regular bank account, so there’s no need for complex set up processes.
How it Works
- Make use of an established global network of payment providers and send your domestic and cross-border payments quickly and securely using file upload or API.
- Track payments and account activity from your acount with real-time reporting, statements and audit logs, so that at any time you have total visibility of your business’ activity.
- This banking solution is built on a cloud-based technical architecture, and with stringent compliance tools built into every aspect of the platform, running each payment through sanction, risk and AML checks.
Product Highlights
- As a result of recent regulatory changes, using this technology, you will be able to manage all of your accounts with other institutions through a web portal, thus simplifying your global money management.
- A key feature of your online account is that it is linked to a multi-currency wallet, which can collect monies in up to 39 currencies, all via a single account number.
- You will have access to multiple wholesale liquidity providers, ensuring that you gain from more competitive rates and the best choice across the markets.
- Gain access to your money 24/7 through a web portal, putting you at the heart of your international money management.
- You will have the freedom to pay seamlessly in up to 120 currencies internationally
- Track the status and activity of your account with a real-time reporting feature so you know exactly where your funds are at any time of the day.
