FinXP launches multicurrency accounts

The new multicurrency service allocates virtual IBAN accounts to clients, allowing them to hold, manage and pay with multiple currencies from a single account. This setup makes it simpler to manage the flow of funds while providing clients with important benefits such as fast settlement times and low foreign exchange fees.

Commenting on the new service, FinXP CEO Jens Podewski said: “The company has already started rolling out the service to existing clients and from the feedback received, we’re confident that multicurrency accounts are going to be a game-changer for many companies.

“Many established businesses today operate across borders and they want their payment processes to be as straightforward as possible. This is where multicurrency accounts come in as by using such cloud-based banking solutions, companies no longer need to maintain separate accounts for different currencies.”