Tramonex teams with Saxo Payments for cross-border transfers
Amine Berraoui, CEO of Tramonex
Finserv provider Tramonex is partnering with Saxo Payments for segregated client accounts in 25 currencies, and foreign exchange (FX) liquidity.
Tramonex has joined the Saxo Payments Banking Circle, and says it is now able to offer its clients individual, physical and virtual accounts with their own unique International Bank Account Numbers (IBANs). Tramonex previously offered its clients’ accounts from Tier 1 and 2 international banks.
It says this is its “vision to shift away from classical banking and offer a new way of managing international cash flows”.
Amine Berraoui, CEO of Tramonex, says: “In the past only banks were able to offer ‘account opening’ facilities but these were cumbersome with slow and expensive payments processes, but there was no other choice. However, the Saxo Payments Banking Circle has changed all that.”
In 2013 Saxo Bank formed Saxo Payments as a new entity, with the purpose of using Saxo Bank’s core capabilities within the non-cash payments market.
Tramonex was founded in 2013 by Amine Berraoui and Marc Avedissian. It is FCA (UK’s Financial Conduct Authority) authorised and a regulated payment institution in the UK, and “passported” in the EU.
