VICTORIA, British Columbia, July 30, 2018 (GLOBE NEWSWIRE) -- EncoreFX (www.encorefx.com), a leading provider of foreign exchange, global payments, and risk management products for corporations, announced today that it has successfully become a member of the global SWIFT network and will begin investigating integration with SWIFT’s global payments innovation (gpi) service.
EncoreFX is now a member of SWIFT, which is a member-owned cooperative that provides the communications platform, products, and services to connect more than 11,000 banking organizations, securities institutions, and corporate customers in over 200 countries and territories. SWIFT enables its users to exchange automated, standardized financial information securely and reliably, thereby lowering costs, reducing operational risk, and eliminating operational inefficiencies. SWIFT gpi will enable EncoreFX’s customers to track the status of a payment in real-time and provide visibility into each payment, including information about each bank in its path and any fees that have been deducted. EncoreFX aims to be the first Canadian foreign exchange and risk management company to offer SWIFT gpi to its clients.
"Integrating directly with SWIFT further solidifies EncoreFX as a global leader in cross-border payments and risk management solutions for corporations. Our clients demand a wide variety of settlement solutions depending on their strategic goals and expect access to innovative technologies to monitor their transactions. Providing clients with the ability to track their payments on the SWIFT network will be groundbreaking in our industry. EncoreFX has always felt it critical to offer leading solutions for payment messaging and investigations," said EncoreFX Director of Treasury Operations, Jennifer Clausen.
Clausen continued, "As global payment experts, integrating directly with the SWIFT network was a logical next step towards strengthening our global presence. Through being a member of the SWIFT banking network, we can process money transfers efficiently and rapidly to almost any bank worldwide.” EncoreFX clients will now have access to the latest SWIFT architecture, increasing their payment efficiency and global reach.
About EncoreFX Inc.
EncoreFX Inc., combined with its subsidiaries, is a foreign exchange, risk management and international payments company headquartered in Victoria, BC, Canada, with a team of experienced professionals operating across Canada, New Zealand, Australia, and parts of the United States. EncoreFX provides customized access to services such as spot foreign exchange, international payments, and risk management strategies including forward contracts and currency options. For more information, visit www.encorefx.com.