- Global payments platform Nium unveiled a new payments solution.
- The new solution helps international banks increase the speed and reduce the cost of settling transactions to select U.S. brokerages.
- Leveraging the tool, financial institutions can save up to 90% in settlement fees.
Global payments platform Nium unveiled a new payments solution that will help international banks increase the speed and reduce the cost of settling transactions to select U.S. brokerages. As a result, international financial institutions will be able to more easily invest in U.S. equities.
“At Nium, we are constantly seeking to empower growing businesses with global reach to move money in smart, fast, and safe ways,” said Nium Chief Revenue Officer Frederick Crosby. “Our new payments solution for FIs that send money to brokerages allows their retail customers to invest in U.S. equities – fast and simple.”
The new payments tool saves Nium clients up to 90% in settlement fees when compared to SWIFT. “Nium’s new solution dramatically lowers the expense of these transactions, allowing FIs to either share cost savings with their customers or re-invest profits in the business,” added Crosby.
Additionally, the tool increases the potential for new clients by leveraging Nium’s network, decreases investment friction for end users, and does not require Nium clients to undergo new technology integrations.
Nium’s new release comes at a good time. The new decade’s digital-first customers now not only expect to conduct most of their financial activity online, they also expect things to be near-instant. Additionally, retail investors have expressed an increased desire to invest in overseas markets.
Singapore-based Nium was founded in 2015. The company serves over 130 million end customers and helps businesses pay out in more than 100 currencies to over 190 countries– 85 of those in real time.
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