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Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Finance

Enterprise Savings, Simplified

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According to a recent Mckinsey report on Global Cross border payments ,” International payments have long served as the engine enabling cross-border trade and investment, and have been instrumental in the emergence of today’s global economy” Although cross-border flows represent only one-sixth of total transaction values, international payments revenues total up to $200 billion globally(mainly to Banks), split roughly evenly between transaction fees and foreign exchange (FX) revenues.

There are many platforms also allow to process cross-border payments, but there is no services aggregator in the market, Fairexpay brings together multiple Cross border payment provider companies like  TransferWise, XE, VEEM, Cambridge, AFEX to showcase the best Fx rate and enable transactions on its platform.

Fairexpay gets the best Fx rates for the customer and help businesses save between 3% to 7% of the total amount. A recent exercise Fairexpay did with one of their prospects they estimated to save $300,000 USD for a transaction of $10m USD between the US office and their subsidiaries.  Another positive point for Fairexpay is the ability to integrate with any ERP out there.  Fairexpay has the benefits of savings, security, transparency and choice for Cross border payments customers. Fairexpay’s products are a web app and an API which can integrate with any financial application, its customer onboarding is simple, user friendly application along with a nice dashboard with features like Bidding, real time Fx rates and comparison.

Fairexpay’s Industry agnostic solution is helping businesses save money and improve efficiencies in treasury processes, its Integration with ERP’s is a value add to customers. Fairexpay has been designed and developed by Experienced professionals. Check fairexpay.com

 

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