AFEX API automates payments & foreign exchange services within the TradeRiver trade credit platform
AFEX, one of the world’s largest non-bank providers of global payment and risk management solutions, has announced a partnership with TradeRiver, the alternative finance provider for SMEs.
The partnership sees AFEX, via its API, embed international payment and foreign exchange capabilities directly into the TradeRiver trade credit platform. TradeRiver clients are now seamlessly able to execute foreign exchange at the same time as initiating their trade credit related payment, providing improved efficiency and transparency to the process.
AFEX clients are also able to benefit from TradeRiver’s cross border trade credit platform to ease cash flow pinches and take advantage of opportunities in the market. TradeRiver offers up to £5million in unsecured growth working capital to businesses provided though a quick and easy online paperless application process.
“This partnership combines our payments and FX expertise with TradeRiver’s trade finance expertise giving clients access to the best possible advice and service with transparent pricing to meet their international working capital needs,” said Stuart Holmes, General Manager EMEA, AFEX. “We are delighted to be partnering with TradeRiver, which shares our commitment to supporting UK SMEs as they look to trade internationally.”
“The strategic corporate partnership with AFEX marks a very significant step for TradeRiver in terms of both improving and expanding our product offering,” said Richard Fossett, Chief Executive Officer, TradeRiver. “In a challenging environment for British businesses this partnership can help give them an edge against their competitors by providing extremely competitive fixed-margin rates for overseas payments.”
Commenting on the API integration, AFEX’s Head of Integrated Solutions for Europe, the Middle East and Africa, Ramnath Ramhit, said, “Like AFEX, TradeRiver is a technology-led financial services company. Their offering is fully online, providing a straight-through service and experience to clients. Our API complements that, enabling its client-base to benefit from AFEX’s extensive payment and foreign exchange capabilities within the TradeRiver ecosystem.”