NEW YORK, Feb. 11, 2025 (GLOBE NEWSWIRE) -- StoneX Group Inc. ("StoneX”; NASDAQ: SNEX) announced that its Payments Division ("StoneX Payments”) has entered into a partnership with Fiserv, Inc. (NYSE: FI) to extend its advanced cross-border payments offering to financial institutions. In conjunction with Fiserv's Payments Exchange Services, community banks and credit unions will have an opportunity to directly leverage StoneX's institutional-grade infrastructure, resulting in dramatically improved global reach, ultra-competitive pricing, and robust transparency across cross-border payment lifecycles.
Payments Exchange Services from Fiserv is a flexible, web-based platform for completing end-to-end, real-time payments 24/7/365 through the RTP® Network from The Clearing House and the US Federal Reserve's FedNow® Service, while also offering a range of foreign exchange and global payment capabilities.
"This partnership with Fiserv is a key part of our broader strategic vision to expand StoneX Payments' reach and enhance cross-border money movement for financial institutions globally,” said Thiago Vieira, Global Head of StoneX Payments. "This collaboration represents a significant opportunity for banks and credit unions to obtain enhanced capabilities that have traditionally been reserved for only the world's largest financial institutions.”
StoneX's broad global coverage eliminates redundancies and streamlines processes associated with legacy systems and networks, which are reliant on multiple intermediaries to facilitate international transfers. This approach can result in significant cost reduction, faster payment fulfillment, and an enhanced client experience throughout the payment lifecycle.
"Over time, through our close work with community banks and credit unions, we've recognized the critical need for a more competitive offering compared to what the market has traditionally provided,” said Stephen Kuhl, Managing Director, Financial Institutions for StoneX Payments. "Our platform empowers financial institutions to significantly elevate their client offering with a global payments solution and leverage multiple benefits, including improved client retention, new revenue streams, and enhanced competitiveness. Community banks and credit unions increasingly have realized that offering international payments services is essential to meeting the needs of their diverse client base, including businesses, high-net-worth clients, and individuals at large with global requirements.”
"At Fiserv, we recognize that foreign exchange and international payments are an invaluable part of community banks' and credit unions' product suites. It is imperative that they offer capabilities on par with the broader competitive landscape,” said Justin Jackson, Senior Vice President of Enterprise Payment Solutions at Fiserv. "We look forward to partnering with StoneX to bring their comprehensive service offering to this segment.”
About Fiserv:
Fiserv, Inc. (NYSE: FI), a Fortune 500 company, aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index and one of Fortune® World's Most Admired Companies™. Visit fiserv.com and follow on social media for more information and the latest company news.
About StoneX:
StoneX Group Inc., through its subsidiaries, operates a global financial services network that connects companies, organizations, traders, and investors to the global market ecosystem through a unique blend of digital platforms, end-to-end clearing and execution services, high-touch service, and deep expertise. The company strives to be the one trusted partner to its clients, providing its network, products, and services to allow them to pursue trading opportunities, manage their market risks, make investments, and improve their business performance. A Fortune 100 company headquartered in New York City and listed on the Nasdaq Global Select Market (NASDAQ: SNEX), StoneX Group Inc. and its 4,300+ employees serve more than 54,000 commercial, institutional, and global payments clients, and more than 400,000 retail accounts, from more than 80 offices spread across six continents.
NASDAQ: SNEX
For more information contact:
Stephen Kuhl, Managing Director: Financial Institutions
