Cobase, Ebury Team Up On FX Payments

FinTech firms Cobase and Ebury are now working together to roll out Ebury’s foreign exchange services on Cobase’s multi-banking platform, according to a press release.

Cobase works in cloud-based corporate multi-banking solutions while Ebury is backed by Santander Bank and works in cross-border tech and financial management.

Through adding Ebury’s services to Cobase’s platform, clients will gain better access to cost-effective cross-border services and get competitive quotes from Ebury, booking foreign exchange trades without having to go through other systems.

In addition, users will be able to access real-time statuses for transactions and reporting, letting automation happen for the reconciliation process, the release says.

And, the processes are all integrated with other Cobase modules for cash and treasury management.

Ebury Co-Founder and CEO Juan Lobato said the two new partners think it will be important to have such collaborations going forward.

“We believe that companies of all sizes will increasingly use aggregated platforms, such as Cobase, to access financial services and manage their treasury functions,” he said, according to the release. “Connecting Ebury’s competitive FX services with Cobase will make it easier for companies to access more automated FX services without any additional integrations.”

Cobase Head of Financial Markets and Risk Solutions Joost Kevelam said the companies’ aim “is to make multi banking simple.”

“By adding Ebury as a FX liquidity provider to our FX Exposure Management module, we offer our corporate clients more options to optimize their cross-border operations,” he said, according to the release.

Ebury also recently partnered with Just Cashflow in an example of how FinTechs are working alongside alternative lenders to better compete against legacy financial institutions, PYMNTS writes.

With the apparent disparity between the two companies, officials say there’s a crucial factor to have payments routed effectively, with Ebury’s options for mass payments, invoice scheduling and multiple IBANs helping to address companies’ unique needs.