By Mina Martin
An SME business loans provider has forged a strategic partnership with a world-renowned foreign exchange (FX) provider, in a move that will enable the company to deliver FX solutions to its clients.
Moneytech partnered with TorFX to enable its customers to access TorFX’s uniquely dedicated service and ultra-competitive exchange rates while trading online or over the telephone, making it more efficient and affordable to transfer their funds internationally.
“We are excited to announce Moneytech’s partnership with TorFX,” said Nick McGrath (pictured above), CEO of Moneytech. “This partnership will enable Moneytech’s clients to transact their FX requirements through an integrated, secure, and reliable FX platform and provider.”
Elle Pallett, managing director of TorFX, said the FX provider, too, was thrilled to be partnering with a trusted company like Moneytech.
“Clients can manage their international payments with full transparency and knowing their transfers are safe and secure,” Pallett said. “Moneytech’s commitment to customer service and innovative products and platforms were all important deciding factors for us when considering who would be an ideal partner.”
Moneytech was established in 2003 and has since then grown to become a leading provider of SME lending, with more $3.5 billion in lending per annum offering a range of financial products, including lines of credit, debtor finance, trade finance, equipment finance, and term loans.
In recent reports, Moneytech noted that delayed invoice payment was one of the major issues facing Australian SMEs this financial year, impacting their cashflow. The non-bank also identified the factors driving the adoption of technology in finance, including a huge demand from consumers seeking efficiency and speed, and the normalisation of working from home.
TorFX is part of an international group that processes more than $19bn in international payments annually and holds an “Excellent” 4.9 Trustscore on Trustpilot. Established in 2004, it operates in more than 25 global offices across 5 continents and employs more than 700 currency experts that support more than half a billion customers. It is also the only foreign exchange provider to have scooped Canstar's 5-Star Rating for Outstanding Value International Money Transfers for five consecutive years from 2018 to 2022.
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