Fiserv Expands Cross-Border Payment Options for Financial Institutions
New integration will enable seamless connection to global financial networks, including SWIFT
Brookfield, Wis., April 4, 2023 – Financial institutions can simplify cross-border payments for their corporate clients with expanded financial network connectivity from Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions. Through an integration with Axletree, clients of Payments Exchange and Enterprise Payments Platform from Fiserv will be able to connect into global financial networks, including SWIFT, providing a cost-effective option to facilitate secure cross-border payments.
Financial institutions rely on the ability to transmit financial transactions quickly and efficiently on behalf of their customers, both domestically and internationally. In addition, institutions are seeking multi-channel environments to ensure they can cater to their clients’ increasing demand for efficient routing when moving money.
With the integration of AxleConnect to Payments Exchange and Enterprise Payments Platform, financial institutions will be able to access the AxleConnect multi-rail environment for sending financial transactions, bypassing the complicated interfaces typically needed to communicate with separate systems across multiple organizations, domestic and international financial networks. With end-to-end financial message processing and visibility, financial institutions can streamline payments communications, improve efficiencies and onboard customers seamlessly.
“Financial institutions are seeking agile and secure financial messaging solutions that integrate seamlessly with the digital financial ecosystem and support ecommerce,” said Bailey Nelson, vice president of Financial & Risk Management Solutions at Fiserv. “This integration with Axletree will simplify the complexities of cross-border financial messaging for our clients, allowing them to meet the payment needs of their customers while operating efficiently with straight through processing.”
Payments Exchange from Fiserv gives financial institutions the ability to complete end-to-end, real time payments 24/7/365, with minimal financial investment and time commitment. The solution complements Enterprise Payments Platform from Fiserv, which enables financial institutions to process payments across channels, clearing schemes and payment types to simplify their payments infrastructure and deliver an effective payments strategy on a single, integrated, real-time platform.
The addition of connectivity to more global financial networks furthers the ability of these solutions to serve as a single access point to multiple payments channels.
“We process more than US$1 Trillion transactions daily through our infrastructure,” said Mohan Murali, President & CEO at Axletree. “The integration of our platform with Payments Exchange and Enterprise Payments Platform will provide a secure and seamless cross border payments experience to transform, validate, enrich and normalize any inbound and outbound financial transactions.”
In a world moving faster than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com.
Fiserv, Inc. (NASDAQ: FISV) 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.
Axletree Solutions delivers mission-critical services across the financial transaction ecosystem for financial and non-financial institutions worldwide. Axletree understands the unique challenges banks and corporates face while optimizing their financial connectivity and payment processes, and helps them remain agile in a rapidly evolving landscape by combining best practices with future-ready solutions. Founded in 2001 in the United States, Axletree’s purpose is to deliver peace of mind through innovative technology and an unrivaled client experience.
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