Nium, a global leader in modern money movement, today introduced a new brokerage payments solution that provides international financial institutions (FIs) with a faster, more cost-effective method of settling transactions to select U.S. brokers enabling clients to easily invest in US stocks.
Compared to transactions settled through the SWIFT international payments network, Nium reduces settlement costs for financial institutions by up to 90% for international brokerage account transactions.
Global brokerage firms are seeing increased retail investor interest in foreign stock markets, particularly in the United States. Until now, transaction settlement for financial institutions serving these brokerages on traditional payment networks has been costly and slow. Now, with Nium, FIs have the opportunity to significantly reduce costs and pass those costs on to customers or increase revenue. The best part, existing Nium customers don’t need any additional technology integration to take advantage of this solution.
“At Nium, we are constantly looking to give growing businesses global reach to move money smartly, quickly and securely. Our new payment solution for FIs sending money to brokerages enables their retail clients to invest in U.S. stocks – quickly and Nium’s new solution dramatically reduces the expense of these transactions, allowing FIs to share the cost savings with their clients or reinvest profits back into the business,” says Frederick Crosby, chief revenue officer at Nium.
Banks and financial institutions that integrate with Nium’s global payments network and new brokerage solution will now enjoy the following benefits:
Cost savings of up to 90%: Global financial institutions using the Nium brokerage solution can save up to 90% on every transfer and use those savings to generate P&L gains or increase volume by offering customers transfers cheaper.
Improved customer satisfaction: Decreased friction associated with investing in the US stock market for international investors boosts customer loyalty and brand affinity.
Increased Demand for New Partnerships: By leveraging Nium’s network to optimize payments on US brokerage accounts, global FIs can reach new customers by leveraging Nium’s low-cost transfers to create new brokerage partnerships.
As retail investors increasingly diversify their investments into global markets, banks and financial institutions hoping to compete in the global marketplace must continually innovate, iterate, and improve their technology stack and user experience. Today, integration with the Nium global payments network allows these global companies to maintain a competitive edge and differentiate themselves within the industry.
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