Form3, the leading provider of cloud-native API payments technology today announced the creation of its International Payments Business, a new initiative by Form3 to give financial institutions servicing consumers and SMEs access to low-cost payments and FX services, utilising its API technology.
Through its initial partnership with Ebury, Form3 will offer end-customers access through their respective banks and fintech to Form3’s API-driven real-time platform. With simple customer onboarding, financial institutions can embed this capability into their existing customer channels and mobile apps. Financial Institutions will be able to provide services that traditionally only global organisations and specialist fintechs could offer to customers.
To accelerate this business to help financial intuitions better serve SME’s, Form3 and Ebury are excited to have been awarded a £5m grant from the Banking and Competition Remedies fund (BCR) which will combine Form3’s API platform and real-time payments with Ebury’s SME offering. Form3 are engaging with other Financial Institutions to enable them to meet their ambitious product release plans for multi-currency domestic payments, forex and payment services capability in multiple countries.
The creation of Form’3 International Payments business is being led by Fabrizio Zanollo who was previously Head of Strategic Partnerships with TransferMate and Intuit.
Fabrizio Zanollo, Head of International Payments at Form3 stated, “Our goal is to dramatically improve access to payment services for SME’s worldwide. Working with our FI partners, we will enable customers to access International Payments (pay-in and pay-out) FX and Trade Finance and settle in up to 140 currencies globally from a single API.”"At Form3, we believe we have the key to unlock the path to success for millions of SMEs across the world through the Power of Partnerships."
Find out more about Form3’s international payments offering at Sibos 2019 on stand 43B in the Fintech Discover zone.