The platform offers BCS’ corporate and institutional clients fast, simple and secure payments and FX experience to manage every aspect of foreign payments.

It has 24-hour advanced functionality for institutions to authorize and receive payments, execute FX transactions, view balances and cash positions. The new consolidated system makes global payments an effortless and efficient process.

Offering payments in a broad range of currencies, the new corporate cash management is the core functionality of the payments service. The new payments solution will allow BCS’ clients in the UK to accept and make payments to and from third parties across selected markets such as the EMEA and APAC regions, as well as Australia, Singapore and Indonesia.

Dr Evgeny Kunts, Head of Transaction Banking at BCS Global Markets who joined the firm to develop the new payments service commented: “We are providing a consolidated, easy-to-use service which gives our corporate and institutional investor clients, as well as High Net Worth Investors, a seamless process through their accounts with BCS Prime Brokerage.

We obtained our transaction banking license in 2018 and are proud of what we have been able to develop since then. The global payments service which will be further expanded to include additional markets is the first move towards a diversified product offering which will be part of a suite of strategic products across the transaction banking platform.”