Following its $6.5 million seed funding AbbeyCross has gone live with its new transactional FX platform and its first US Tier1 Bank customer. The platform has been built to transform FX payments in emerging markets for global banks, MSBs, NGOs and their EM payment providers. AbbeyCross reduces technical barriers to integration, addresses compliance and continuity risk, and offers much-needed price transparency to the fragmented and inefficient EM FX payment industry.
Michael Robertson CEO and Founder of Abbey Cross (ex Merrill Lynch, HSBC and RBS head of transactional FX) said: “Today marks a major milestone in our journey to optimise and improve the outdated and inefficient emerging markets FX payments ecosystem. For this US Tier 1 bank client, joining the ABX Platform recognises its commitment to continuous innovation for its global client base. This will ultimately reduce the bank’s client costs, simplify their processes and improve their client experience.”
