Finmo Introduces Direct Real-Time Payment (RTP) Integration in Australia and Expands Global Team

SINGAPORE, April 18, 2024 /PRNewswire/ -- Finmo Tech Pte. Ltd. ("Finmo"), a Singapore-headquartered leading global payments company dedicated to delivering the world's premier all-in-one Treasury Operating System (TOS) has announced its direct integration with Australia's New Payment Platform (NPP) as an identified institution through its partner bank, Australian Settlements Limited (ASL), a market-leading payments pioneer. This milestone collaboration marks a milestone for ASL, to partner with a leading global fintech like Finmo to offer real-time payment (RTP) capabilities to merchants both domestically and worldwide.

This strategic partnership further expands Finmo's regional and global network capabilities, and is additive to its ability to provide cutting-edge RTP solutions to the growing merchant customer base. The integration also marks Finmo's commitment to continuously improve and add to its solutions and offerings in Australia, and complements the company's established presence in Singapore, Thailand, Philippines, New Zealand, the USA, Europe, and broader South East Asia.

"Australia holds significant importance for us. As a licensed Australian Financial Services (AFS) provider, we are dedicated to delivering relevant and meaningful products and services to our local merchant base while leveraging our regional expertise to foster their global growth. We are privileged to be the inaugural Fintech partner for ASL in the Australian market and are confident in our ability to offer Australian businesses a distinctive proposition that adds tangible value," commented David Hanna, CEO of Finmo.

In addition to achieving these milestones, Finmo has made substantial additions to its global team, doubling the size of its product and technology teams to strengthen its product-led approach. The team expansion is the company's strategic investment made based on its customer-first operating principles, and as a response to substantial year-on-year growth in Finmo's customer base in Australia and Singapore, and marks Finmo's prioritisation of product delivery and customer service for its partners and customers.

Since its inception two years ago, Finmo has facilitated a total payment volume exceeding US$4 billion, and has established its global collection and payout capabilities through collaborative partnerships with additional global banking entities, all aligned with its treasury operating system (TOS) strategy.

Key features of Finmo's offerings include:

• Global Currency Accounts (GCA), enabling businesses to transact seamlessly in multiple currencies.
• Competitive domestic and cross-border money transfer services, empowering businesses to capitalise on favourable exchange rates.
• Streamlined multi-currency wallets and online payment acceptance, fostering a convenient and efficient payment ecosystem for companies operating globally.

Developed by ex-senior executives from global financial institutions such as Citi, PayPal, and Visa, the game-changing Finmo TOS solution was built on the foundation of real-time payments (RTP) rails, and facilitates instant money transfers, accurate cash flow forecasting, optimized liquidity management, effective financial risk mitigation, and seamless compliance with financial regulations. By consolidating these essential functions into one category-defining product, Finmo addresses a critical unmet need in the market and sets a new standard for how financial technology platforms can support SMEs' financial stability and ensure their continued success beyond mere fund transfers.

About Finmo
Finmo is a full stack digital payments platform with the world's first all-in-on treasury operating system (TOS) that allows its merchants with money movement (funds-in and out) and cash management including FX solutions. Its mission is to simplify payments, automate mission-critical treasury functions, and empower businesses and consumers to transact with only the most relevant methods that optimise for speed, convenience and cost. The Finmo Global Currency Accounts platform supports global payouts to more than 180 markets and more than 35 currencies.

For more information, please visit. www.finmo.net

SOURCE Finmo