Ebury, one of the UK and Europe’s largest fintechs, is pleased to announce it has entered into a partnership with Spain’s seventh largest bank, Unicaja Banco.
The agreement will enable Unicaja to offer international payments and cash management services through Ebury’s global transaction banking platform to its 400,000 SME customers and 3 million retail customers. Using Ebury’s regulated and future-proofed capabilities, Unicaja will significantly enhance its offering, particularly to its SME customer-base.
Unicaja´s customers can now make international payments in more than 100 currencies, collect over 40 currencies across Europe, APAC, Africa and South America, use dedicated currency accounts in over 20 countries, and access flexible foreign exchange risk management tools for over 130 currencies, via one platform 24/7, from any location.
The partnership demonstrates Ebury’s ability to help banks around the world by enabling them to offer their clients an innovative global transaction banking proposition. Not only do SMEs benefit from increased access to transaction banking products via a single platform, but the banks working with Ebury can deliver their global services quickly, at a very low cost.
Ebury currently serves over 35,000 small to mid-sized companies and institutions around the globe, executing over $2bn per month in transactions. Its rapid growth reflects the global trend of disintermediation of transaction services, as global banks focus on their core offerings.
Juan Lobato, Ebury’s Co-founder and CEO, commented: “I am delighted that Unicaja, one of Spain’s largest banks, has chosen to work with Ebury and will offer our customer-led services to its extensive client base. Our tailored solution is a cost-efficient way for Unicaja to reverse the trend of banks retrenching the services they provide to SMEs, and marks an important improvement in its capabilities.”
“This partnership is further validation of our strategy to deliver high-quality and efficient cross-border transactional services to small and medium companies that have difficulty accessing these services elsewhere on a single platform. In partnership with Ebury, banks can help businesses grow internationally while reducing the cost and risk of cross-border transactions”
Pablo Gonzalez, Unicaja Banco´s CFO, noted "Signing this agreement with Ebury, a leading Fintech specialising in cross-border payments, foreign exchange and cash management solutions to businesses, will give a huge competitive advantage to Unicaja Banco´s customers that currently trade internationally or wish to do so"