The safe, transparent, and efficient execution of daily cross-border payments is essential to your business’s success. So, as a global business in today’s connected markets, how can you transact with your customers, vendors, and partners across different countries, in multiple currencies, and through various banking channels, but always with peace of mind?
While conventional cross-border banking and payment systems promise safety, they unfortunately fail to deliver transparency in the movement of funds. This means you need to blindly trust the transfer process while offering zero visibility.
Thankfully, modern fintech companies are capitalizing on the market’s need for end-to-end cross-border payment visibility by offering tech-enabled payment solutions. These financial processes will allow you to track their money across borders and banks – from start to finish!
Here’s how your business can leverage these solutions to gain a competitive financial advantage and drive success.
- Improved cash management
End-to-end cross-border transactional visibility is the key to smoother cash-flow management or cash management. By keeping an eye on all financial transactions, your business can reduce debt-servicing risk, pay suppliers and employees on time, gain insight into any foreign exchange risk, and make timely investment decisions.
Axletree’s Symmetree, is one of the leading fintech platforms that empowers you to view, manage, and reconcile all your accounts, payables, and receivables in a single window.
- Improved supplier relations
Gaining transparency into all your cross-border payments helps you deliver a positive transaction experience to your suppliers. You can keep them in the loop on the exact location of their money in the payment supply chain, offering them the chance to improve their cash flow management.
- Streamlined and frictionless transfers
Cross-border business payments typically involve multiple global banks, payment providers, financial messaging systems, and even financial regulators. A breakdown of back-end communication among any of these stakeholders can result in delays.
End-to-end payments visibility allows individuals and organizations on both sides of the transaction to instantly identify and address the cause for delay and reduce friction in the transaction supply chain.
Axletree’s financial messaging, enterprise integration and bank-connectivity solution, Symmetree can help you link modern payment systems with conventional banking infrastructure to enable streamlined, safe, host-to-host connectivity and reliable communication with all your financial partners.
- Reduced FX risks and fees
Cross-border payments conducted via the traditional banking network are prone to absurd amounts of banking fees and significant foreign exchange risks. Your money is typically routed through multiple counterparties, where each handler charges its own fees. These fees and commissions are often hidden, and the transaction parties only realize the impact upon receiving reduced funds at the end.
You can shield yourself and your business from these hidden foreign exchange commissions and charges by using a payment platform that offers transparency across the whole financial supply chain.
- An efficient financial and business ecosystem
Transparent financial transactions are crucial for the joint success of interconnected businesses that operate as separate sub-entities under one big organizational environment. Multiple partners under the ecosystem need to be able to move money in a safe, reliable, and efficient manner.
With end-to-end visibility into each transaction, the entire organizational ecosystem benefits from streamlined cash flows, an increased sense of accountability, smoother operations, and a healthier bottom line.
Unlocking opportunities and obtaining peace of mind with Axletree
A transparent financial supply chain allows all stakeholders the opportunity to grow their businesses, gain a competitive economic advantage, build trusting partnerships and ensure success.
The Axletree Technology suite is designed to empower global businesses with greater control over every financial transaction, allowing them to own their financial success and drive their businesses towards a better future.
To leverage Axletree’s state-of-the-art financial messaging solution, Symmetree and to unlock end-to-end transaction visibility for your clients, get in touch with us today.
June 6, 2022
