Global fintech infrastructure platform Nium has established a strategic collaboration with Banco Hipotecario to enhance international transfer for consumers and businesses in El Salvador. The collaboration will open the marketplace to new international corridors beyond Latam, media reports said.
Nium’s real-time fund transfer technology and its extensive portfolio of regulatory licenses will add value to the bank’s payments across borders. Rohit Bammi, Global Head of Institutional Sales at Nium, told the media, “We are at a point where banking as we know it is undergoing a fundamental transformation. Today we envisage a future where fintech can be used to promote greater financial inclusion while also lowering the entry barriers for businesses of all sizes to participate in the global digital economy.
“Through our partnership with Banco Hipotecario, Nium is expanding our presence in Latin America. We’re very excited to be able to introduce a more holistic financial service offering in El Salvador and simplify the cross-border payment experience for consumers and businesses alike.”
Banco Hipotecario is a commercial bank and mortgage lender in Argentina. It is reported that the bank chose Nium as its payments partner to deepen cross-border transactions for corporate and individual clients in the region. With that, it will expand its presence into international markets including Europe, the US and the UK. The collaboration will introduce secure and real-time global payment capabilities for the bank’s corporate and individual clients.