StoneX Financial Ltd, a subsidiary of StoneX Group Inc., has partnered with NatWest Group PLC. This strategic collaboration aims to revamp NatWest's international payment capabilities, providing customers with seamless cross-border foreign exchange services.

Enhancing Global Payment Solutions

In this partnership, StoneX's payment division, StoneX Payments, will provide NatWest with third-party delivery and international foreign exchange payment services. This integration will enable NatWest's corporate clients to transfer funds to more countries. It's noteworthy that this collaboration will facilitate cross-border payments, expanding the bank's local payment coverage to an additional 10 currencies, effectively allowing entry into markets previously beyond its service scope.

Thiago Vieira, Global Head of StoneX Payments, commented on the collaboration: "Over the past 30 years, we have accumulated profound expertise in the field of cross-border payments and have achieved great success collaborating with globally renowned institutions that have digitalization and transformation ambitions. It is an honor to collaborate with the NatWest team, who share our drive for modernizing cross-border fund flows, and we are committed to maximizing the value our services bring to them and their clients."

At the core of this alliance is StoneX's API-driven financial institution platform, supported by its network covering over 350 correspondent banks. Leveraging this infrastructure, NatWest will be able to offer its clients enhanced foreign exchange rates and a seamless payment experience.

Clarity in Payments and Competitive Foreign Exchange Rates

StoneX Payments' proprietary network and infrastructure will serve as the cornerstone of this collaboration, ensuring NatWest's clients benefit from competitive foreign exchange rates and transparent payment processes. It's noteworthy that StoneX Payments will provide clarity from the outset of each payment transaction, offering accurate details regarding the amount of funds to be transferred to the destination.

Abram Tilling, NatWest's Head of "Manage My Money" objectives, stated: "We are pleased to introduce 10 new currencies, enabling our clients to send international payments. Utilizing StoneX Payments' channels provides certainty of value received at the destination for our clients, avoiding intermediary bank fees, and offering pricing transparency."