Datasoft adds correspondent-banking-as-a-service into its offering

Wednesday 2 June 2021 10:36 CET | News

Datasoft, a global provider of foreign exchange and global payments software solutions, has launched FxOffice Platform-as-a-Service (PaaS).

Datasoft embeds multiple FX liquidity and payment providers into the FxOffice core to bring an array of foreign exchange pricing, execution, and cross border payment services to financial institutions. With inbuilt FX and payments automation, financial institutions can deploy and leverage the respective strengths of multiple partners from Datasoft’s network.

Banks, FX brokers and money services businesses (MSBs) can each benefit from global coverage, FX liquidity pricing, and payment routing within an end-to-end technology platform. Having a network of partners rolled into FxOffice PaaS removes the nature of organically nurturing and implementing individual relationships with correspondent banks. FxOffice PaaS offers over 880 currency pairs with payments to over 140 countries including some in-country corridors.

FxOffice PaaS can be used in conjunction with the existing FX and global payments infrastructure of established financial institutions. By consolidating to a correspondent-banking-as-a-service model, existing valuable relationships can be retained.

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Keywords: FX , banks, payments infrastructure, financial services, product upgrade
Categories: Banking & Fintech | Payments General
Countries: World
This article is part of category

Banking & Fintech