Crédito Agrícola, a financial group covering multiple local banks, and Ebury, a provider of financial service in the UK have recently inked an agreement for a partnership that shall help the corporate clients of the bank to execute cross border transactions and foreign currency exchange entirely online.
Apparently, the partnership has been deemed as an evolution strategy for growth of the CA Group, that intends to constantly provide high-quality digital services to corporate customers.
The corporate clients of the Portuguese bank who access services provided by Ebury will now has the ability to trade in over 130 currencies at even further competitive rates. The offering had been aimed at a broad range of firms that either execute or even have the potential to execute international business operations to export and import goods.
CA Group’s President, Licinio Pina commented that the partnership aligns with the innovation strategy of the Group as it offers all the customers a service that will be helping businesses lessen the risks coming from International trade.
The Country Manager of Ebury Portugal, Duarte Líbano Monteiro highlighted that Ebury is looking forward to running the partnership with a bank that has been walking the path of innovation. It will mark the first time for a Portuguese bank to partner with a fintech to offer such services to firms, streamlining all their international transactions and letting them combine their internationalization.
For the record, Crédito Agrícola is the only cooperative financial institution of Portugal that has an exclusive national capital and the largest network branches within the country. The bank has placed its focus on corporate clients, as indicated in the partnership, besides consolidating the commitment it made for digital transformation via multiple platforms.
Ebury is a renowned fintech firm that specializes in foreign currency exchange as well as provides a wide range of financial solutions across SMEs trading internationally. It has about 25 offices in 21 countries with its headquarters in London.