Signature Bank announced today that it is using American Express FX International Payments Platform to process online orders for international wire transactions by Signature Bank corporate customers.
Those customers who wish to place orders from Signature Bank will log into the secure, online platform of American Express, which has features that include:
An easy to use and secure online platform to send wire payments in USD or foreign currency
File upload with the ability to store repeat wire and beneficiary information saving time
Email notification to beneficiaries when a payment is initiated and complete
"International wire transactions is one area of banking that is lagging technology solutions to common inefficiencies," stated Mick O'Rourke, president of Signature Bank. "We wanted a customer-facing solution that would give our customers more control over their international wire transactions and allow them to build efficiencies for repeat payments. American Express FX International Payments solved this problem allowing us to offer features that rival the competition in convenience and confidence."
Signature Bank began offering international wires to its small and mid-sized corporate customers with international banking needs in the third quarter of 2011. Many of the bank's manufacturing and industrial customers source parts and supplies from overseas and began using the product immediately.
"Sending and receiving international payments is a challenge for many businesses that are often hindered by paperwork, surprised by unexpected fees, and lack confidence that funds will reach their final destination," stated Brett Weinhouse, Vice President & General Manager, FX International Payments at American Express. "We are delighted to partner with Signature Bank to deliver a best in class solution to their corporate customers who want to simplify their international payments processes."