Source: site
To begin, Nium will be able to collect EUR, SGD, USD, and GBP locally in these countries.
This launch unlocks new revenue streams for banks “by combining collections, FX conversion, and payouts in one platform.”
Banks can white label the solution, “retain ownership of the customer relationship, and recapture FX margins lost to fintechs on inbound cross-border payments.”
Customers benefit from a one-stop shop “experience without additional onboarding requirements.”
Ranaditya Palit, Head of Product at Nium, said now, banks can collect funds on behalf of their customers, settle in any currency, using their APIs.
Global Collections joins Nium’s suite of solutions for banks, “including global payouts, real-time FX, and compliance infrastructure.”