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Solution significantly lowers Financial Institution settlement costs by up to 90% for international brokerage account transactions
SINGAPORE, 16 March 2022 – Nium, a global leader in modern money movement, today introduced a new brokerage payments solution that offers international financial institutions (FIs) a faster and more cost-effective method of settling transactions to select US brokerages enabling customers to easily invest in US equities. When compared to traditional systems, Nium lowers settlement costs for Financial Institutions by up to 90% for international brokerage account transactions.
Global brokerage firms are seeing increased retail investor interest in overseas equities markets, particularly in the United States. Until now, transaction settlement for financial institutions serving these brokerages over legacy payment networks was costly and slow. Now, with Nium, FIs get the chance to dramatically lower costs and pass those costs to customers, or increase their revenue. The best part, existing Nium customers need no additional technology integrations to take advantage of this solution.
“At Nium, we are constantly seeking to empower growing businesses with global reach to move money in smart, fast, and safe ways. Our new payments solution for FIs that send money to brokerages allows their retail customers to invest in U.S. equities – fast and simple. Nium’s new solution dramatically lowers the expense of these transactions, allowing FIs to either share cost savings with their customers or re-invest profits in the business,” says Frederick Crosby, Chief Revenue Officer at Nium.
Banks and financial institutions integrating with Nium’s global payments network and new brokerage solution will now enjoy the following benefits:
- Cost savings of up to 90%: Global financial institutions leveraging the Nium brokerage solution can save up to 90% on each transfer, and use those savings to drive P&L gains or increase volume by offering customers lower cost transfers.
- Improved customer satisfaction: Decreasing friction associated with investing in the U.S stock market for international investors drives customer loyalty and brand affinity.
- Increased demand for new partnerships: By leveraging Nium’s network to optimize payments to U.S. brokerage accounts, global FIs can reach new customers by taking advantage of Nium’s low-cost transfers to drive new brokerage partnerships.
As retail investors increasingly diversify their investments across global markets, banks and FIs hoping to compete in the global market must continuously innovate, iterate and improve on their technology stack and user experience. Today, integrating with the Nium global payments network enables these global businesses to maintain competitive advantage and differentiate themselves within the industry.
For more information, visit https://www.nium.com/nium-brokerage-transfer.
About Nium
Nium is a global leader in modern money movement. It provides banks, payment providers, and businesses of any size with access to global payment and card issuance services. Its modular platform powers frictionless commerce, helping businesses pay and get paid across the globe with services for pay-outs, pay-ins, card issuance, and banking-as-a-service.
Once connected to the Nium platform, businesses are able to pay out in more than 100 currencies to over 190 countries – 85 of which in real time. Funds can be received in 27 markets, including Southeast Asia, UK, Hong Kong, Singapore, Australia, India, and the US. Nium’s growing card issuance business is already available in 34 countries, including Europe (SEPA), the UK, Australia and Singapore. Nium’s license portfolio covers 11 of the world’s jurisdictions, enabling seamless global payments and rapid integration, regardless of geography.
Nium was named among “Financial Times APAC High-Growth Companies” and “Best B2B Payment Platform at Future Digital Awards” in 2021.
For more information, visit: https://www.nium.com
Media contact:
Tim Black