TreasurySpring has partnered with Global Reach Group, a leading provider of foreign exchange and international payments, to deliver seamless access to each other’s services to the two companies’ combined client base, see figure.
TreasurySpring-Global Reach Partnership
Source & Copyright©2020 – TreasurySpring and Global Reach Group
The partnership is based on:
- Shared introductions and on-boarding:
- TreasurySpring and Global Reach introduce clients to each other. Upon client consent, TreasurySpring and Global Reach share client KYC and AML data in order to facilitate a swift onboarding process, with minimal additional input required from the client.
- Client access to best-in-class cash investment and FX products and services:
- Global Reach clients minimise risk and maximise return on excess cash balances by investing in Fixed-Term Funds directly through the white-labeled Global Reach platform.
- TreasurySpring clients can access competitive FX execution and advice directly from Global Reach, with minimal additional onboarding.
Classic fintech win-win
For corporates, on-boarding for any new service is a many weeks/months problem and is getting worse as AML procedures tighten. The attraction of seamless access to two essentials – who doesn’t need FX payments and advice + great investment opportunities - best-in-class services is a natural partnership. It doesn’t need explaining, it is obviously beneficial to all parties and their clients.
This is yet another example of how banks are not involved in the front-end of a vital new service.
CTMfile take: This partnership sounds simple and obvious but integrating on-boarding services is not easy and takes sensitive and detailed development. The quality and efficiency of this new on-boarding will determine the level of demand from corporates.
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