Silicon Valley-based Integral, a FinTech company providing foreign exchange trading solutions and services has announced that it has partnered with Western Union, a cross-border, cross-currency money movement and payments provider to employ eFX risk management technology across its Western Union Business Solutions platform.
“We placed a premium on finding a trusted partner that could deliver reliable and leading-edge technology to support our requirements for risk management. Because BankFX is a cloud-based solution, we are able to easily integrate it with our proprietary systems to help us effectively manage payments across our network, which covers over 200 countries and territories and more than 130 currencies. Ultimately, this helps our clients efficiently manage international payments, 24/7,” said Scott Johnson, Head of Product at Western Union Business Solutions.
The Western Union Business Solutions will deploy Integral BankFX across its risk management workflow. The platform offers WU Business Solutions full automation and customization, including an enhanced level of control of more than 10,000 currency pairs available on its system, delivering a tailored eFX service to its clients.
“BankFX is a highly configurable platform, so it is ideal for the bespoke solution Western Union Business Solutions requires. BankFX allows Western Union to further enhance their risk management operations with the support of reliable and state-of-the-art technology. Integral and Western Union share the mission to help customers grow their business. We anticipate a very successful long-term partnership and are honored to work with such experienced industry leaders,” said Harpal Sandhu, CEO of Integral.
Western Union has recently launched a new solution for incoming payments for legal firms.
Founded in 1993, Integral is a financial technology company that helps its customers including banks, Margin brokers, and asset managers outperform their competition in the foreign exchange market through solutions for workflow management and advanced execution. The company provides a cloud-based eFX platform for FX institutions combining features for liquidity management, pricing, distribution and risk management.
