Tramonex, a company specializing in cross-border payments and forex services for SMEs, announced it has teamed up with global transactions services provider Saxo Payments, part of Danish forex brokerage and financial services provider Saxo Bank.
Tramonex has joined Saxo Payments Banking Circle in order to shift away from classical banking and offer new ways of managing cash flows. As part of the new project Tramonex will be offering its clients segregated individual, physical and virtual accounts with their own IBANs, in 25 currencies.
Previously Tramonex only offered its clients accounts from Tier 1 and 2 international banks.
“In the past, only banks were able to offer ‘account opening’ facilities but these were cumbersome with slow and expensive payments processes, but there was no other choice,” noted Amine Berraoui, CEO of Tramonex. “However, the Saxo Payments Banking Circle has changed all that. It offers us the ability to empower our clients in a way the traditional banks never could. The transparency provided to our clients, by having their own unique account, with IBAN, in their own name, is market-leading, helping us to stay ahead of competitive offerings.”
“Tramonex shares many of the same concerns and motivators as Saxo Payments, making this partnership an excellent fit,” said Anders la Cour, Chief Executive Officer at Saxo Payments. “Like us, Tramonex understands the limitations of the current system, customer pain points, and market volatility, and has designed solutions that make managing payments and collections not only simpler and more efficient but also less operationally clumsy.
Tramonex is a financial services provider specializing in providing cross-border money transfers, cash management and forex services to small and medium companies. It is authorized by UK’s Financial Conduct Authority and passported in the EU.
Only last week Tramonex announced it has partnered with the fintech company DLT Financial for the launch of DLT10 – a cryptocurrency financial index, which will track the performance of the major cryptocurrencies.
Saxo Payments specializes in providing global payment account transactions and foreign exchange services to payment providers, including acquirers, payment service providers, FX brokers, money transfer businesses, e-wallets, and alternative payment providers. It is registered as a payment institution in the EU.