Derivative Path partners with Wells Fargo to implement FX payments

Real-time FX payments for small and medium banks

Leveraging Wells Fargo’s FX Payment APIs integrated with Derivative Path’s platform, this integration is designed to work within the digital experiences of bank customers, providing real-time FX rates across over 120 currency pairs and optimising the collection of settlement details at the point of payment creation.

This solution aims to address the complexities and inefficiencies associated with international transactions by optimising payment workflows. Regional and community banks can now leverage this technology to provide secure and transparent FX payment services, akin to those offered by bigger financial institutions.

Wells Fargo’s aim is to make global payments accessible and efficient for regional and community banks. Its technology is designed to integrate into its digital platforms, improving the overall customer experience and extending its international capabilities. Working with Derivative Path allows the company’s bank clients to leverage its robust APIs and bring FX payment solutions to their customers via digital channels where they want to transact.

The integrated solution has several live customers with more currently being implemented. Among the early adopters are Busey Bank and FirstBank. Busey Bank claimed that, since integrating the FX payments solution, they have processed over 500 FX wires with one inquiry. This improved its operational efficiency and customer satisfaction.

This solution is part of Derivative Path's broader strategy to offer banks of all sizes the financial tools necessary to grow.

Other partnerships from Derivative Path

In 2024, the company partnered with FNBO to introduce FX payments for correspondent bank clients. This solution integrates FNBO's banking services with Derivative Path's cloud-based platform to simplify cross-border transactions, providing features such as automated liquidity access, real-time currency conversions, nostro account management, and competitive FX quotes.

Representatives of Derivative Path noted that this extension of their collaboration with FNBO reinforces their shared vision of delivering advanced financial solutions.