Nium, a firm in modern money movement, has 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 transactions settled via the SWIFT International Payments Network, Nium lowers settlement costs for Financial Institutions by up to 90 per cent 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, Nium.
