“A new payment solution for FIs that send money to brokerage firms allows individual clients to invest in US stocks quickly and easily,” said Nium’s CRO Frederick Crosby.
Nium is a new securities firm that provides International Financial Institutions (FI) with a faster and more cost-effective way to settle transactions to select a US brokerage firm that allows customers to easily invest in US stocks. We have started a payment solution.
A new solution leveraging Ripple’s blockchain network, Ripplenet, claims to reduce financial institutions’ settlement costs for international securities account transactions by up to 90% compared to transactions settled through the SWIFT International Payments Network.
Frederick Crossy, Nium’s Chief Revenue Officer, said: A new payment solution for FIs that send money to brokerage firms allows individual clients to invest in US stocks quickly and easily. Nium’s new solution dramatically reduces the cost of these transactions, allowing FI to share cost savings with customers or reinvest profits in the business. “
Nium points out three key benefits of a global payment network and new intermediary solutions. It’s up to 90% cost savings, increased customer satisfaction, and increased demand for new partnerships.
- Save up to 90%: Global financial institutions leveraging Nium broker solutions can save up to 90% on each transfer and use those savings to P & L by providing customers with low-cost transfers. You can promote your profits and increase your volume.
- Increased Customer Satisfaction: Reduced friction associated with investing in the US stock market for foreign investors promotes customer loyalty and brand affinity.
- Increasing Demand for New Partnerships: By leveraging Nium’s network to optimize payments to US brokerage accounts, Global FI will leverage Nium’s low-cost transfers to partner with new brokerage firms. By promoting, you can reach new customers.
Private investors are flocking to investing in the entire global market as they seek to diversify. Banks and brokers must be able to accommodate new market participants and meet their demands. The Nium Global Payments Network allows these global businesses to maintain their competitive advantage and differentiate themselves within the industry.
Founded in 2014, Nium leverages Ripple’s advanced blockchain technology to process customer transactions in real time.
It is said to be the first in the region to provide a corridor from the Americas to many destinations in Southeast Asia. The new connections on the network also helped Nium solidify its presence throughout Australia, Singapore and Malaysia.
