AFEX partners with TradeRiver to help UK SMEs
The international payments firm will use the alternative finance provider’s platform via an API integration.
The international payments firm will use the alternative finance provider’s platform via an API integration.
Global payment and risk management solutions provider AFEX, which specialises in cross-border transactions is partnering with TradeRiver, the alternative finance provider for small and medium enterprises (SMEs). The partnership sees AFEX, via its application programming interface (API), embed international payment and foreign exchange (FX) capabilities directly into the TradeRiver trade credit platform. TradeRiver clients can now able execute FX at the same time as initiating their trade credit related payment, providing improved efficiency and transparency to the process.
AFEX clients can also benefit from TradeRiver’s cross border trade credit platform to ease cash flow pinches and take advantage of opportunities in the market. TradeRiver offers up to £5m in unsecured growth working capital to businesses provide though a quick and easy online paperless application process.
“The strategic corporate partnership with AFEX marks a very significant step for TradeRiver in terms of both improving and expanding our product offering,” said Richard Fossett, chief executive officer (CEO), TradeRiver. “In a challenging environment for British businesses this partnership can help give them an edge against their competitors by providing extremely competitive fixed-margin rates for overseas payments.”