Crown Agents Bank Ltd. today announces that it is joining forces with MTFX Group, a Canadian based foreign exchange and global payment solution provider, to expand the companies access across emerging markets and Africa. This strategic partnership will provide MTFX’s vast client base increased ability for moving money across Africa and access to exotic foreign exchange currencies.
Crown Agents Bank will provide MTFX with reliable liquidity across emerging market currencies, particularly in African markets, to ensure fast, safe and secure settlement. The bank’s broad access to local correspondent banks, combined with competitive FX pricing across the emerging markets, will make it a cost-effective and faster solution for MTFX’s corporate, SME, education sector and Non-Governmental Organisation (NGO) clients.
In addition to the FX capabilities, MTFX will also be leveraging Crown Agent Bank’s digital payment rails, delivering payments to MTFX’s client’s beneficiaries locally. MTFX Group is one of the largest foreign exchange and global payment solution providers, spanning across multiple industries in almost every business category.
Crown Agents Bank has been operating across emerging markets for nearly two centuries. It has a growing portfolio of Non-Banking Financial Institution and fintech clients, particularly over the last few years of accelerated digital transformation.
David Bee, Head of Client Coverage and Markets at Crown Agents Bank, says, “Moving money across emerging markets has been our specialism for decades. It’s exciting for us to work with technology-led businesses like MTFX and expand their access into our core markets. Our network, FX liquidity and digital payment rails, make us a vital partner for many banks, Non-Bank Financial Institutions, and International Development Organisations. Players such as MTFX who prioritise transparency and value for their clients as much as we do are always desirable partners.”
Arif Harji, Director, Chief Market Strategist, MTFX Group, comments, “Our core focus is providing fast, competitive and secure ways to send money internationally paired with our industry-leading 24/7 customer service. Partnering with Crown Agents Bank will bolster our capabilities in emerging markets and enable us to offer more reliable and faster settlement to our clients. Combining their network and liquidity with our world-class online platform means international payments will be even easier.”