FCA-regulated e-money institution (EMI) Financial House has partnered with ONPEX, a provider of multi-currency IBAN accounts.
The partnership empowers the EMI to offer cross-border transaction banking to its international customer base.
UK-based Financial House provides Software-as-a-Service (SaaS) banking and e-money issuing for small and medium-sized ecommerce businesses across Europe.
ONPEX BaaS allows the EMI to build its own financial services using Application Programme Interfaces (APIs).
Through ONPEX’ BaaS platform, Financial House can now access a wide range of payment and transaction banking features including multi-currency account issuing. This empowers the EMI to offer IBANs in its own and in its customers’ name, send and receive local SEPA and cross-border SWIFT payments, and enable foreign exchange (FX) trade in up to 25 currencies. Additional currencies now offered by Financial House include: Euros, Great British Pounds, Japanese Yen and Indian Rupees.
Once Financial House’s new services are available to customers, ONPEX will be managing the payment flows and processes in the back-end.
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