iBanFirst heads to UK to resolve Brexit payment issues with Cornhill Buy

The pandemic has highlighted the importance of digitizing payment processes and combining strong foreign exchange (FX) risk management with technological know-how. With the UK’s exit from the EU, UK small and medium-sized enterprises (SMEs) are facing difficulties making and receiving payments across Europe due to EU legislation.

Banking big on growing demand for enhanced cross-border experience, financial services platform iBanFirst acquired the London-based FX provider Cornhill. Supporting its ambitious plan to expand multi-currency payments for SMEs outside of Belgium, the new purchase marks the company’s entry into the UK

Speaking of his arrival in the UK, Pierre Antoine Dusoulier, CEO of iBanFirst said: “Our arrival here represents a key step and marks our presence in 10 countries. We will continue our growth in Europe and now turn our attention to Switzerland, Scandinavia and North America.

An alternative to the traditional banking offer, the French company headquartered in Belgium helps international SMEs to prosper while simplifying their daily operations. The company’s core banking platform enables fast, secure and cost-effective multi-currency transactions. The acquisition is expected to strengthen iBanFirst’s value proposition for SMEs, simplifying trading in GBP in a post-Brexit environment and giving Cornhill customers access to its cutting-edge cross-border technology, the CEO added.

Vivek SavaniExecutive Director of iBanFirst UK added: “The agreement will allow our customers to benefit from an improved cross-border experience with features such as payment tracking, to track payments in the same way consumers can track parcels. .”

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