30 May 2023 – Paris
At a time when the EUR/USD pair has never been so sensitive to market fluctuations, iBanFirst is now offering its clients the possibility of opening local accounts in USD to facilitate the transfer of flows from European SMEs to the US. It can be particularly cumbersome and time-consuming to open a local USD account which is why iBanFirst wants to offer its clients, and especially those operating on marketplaces, a cheaper and faster alternative. For customers with local offices in the US or customers who trade internationally, USD accounts will offer more agility and operational efficiency, from rapid account opening to immediate fund transfers between iBanFirst accounts, flexibility and much more.
Long processing times, rigid processes, and high and opaque fees are among the many obstacles that companies doing business across the Atlantic can encounter. Specialised in international payments, iBanFirst’s main priority is to meet its clients’ needs in this domain.
From now on, thanks to local USD accounts, clients will be able to collect revenues from local sales, aggregate all their accounts in one place, make payments instantly and free of charge, and benefit from favourable exchange rates.
Pierre-Antoine Dusoulier, CEO of iBanFirst, commented on this announcement:"Our mission is to support our clients who trade internationally and to simplify their day-to-day business practices. The US market and the EUR/USD pair are crucial for our clients. It was very clear to us that offering them solutions such as local accounts in USD were crucial. With a presence in 10 countries, the ability to offer local US accounts, and a secure and transparent technological interface, iBanFirst is a natural alternative for international payments."
Ivo Mertens, Chief Revenue Officer, added: “Our objective is to offer our clients the services they need. We’ve noticed that for some of them, expanding to the US can sometimes be complicated just for banking reasons related to collecting profits in USD and managing flows. That is why creating local USD accounts appeared to be an obvious choice. Removing the technical barriers, allowing clients to focus on their international expansion: this is what we do every day with the strength of our technology and the know-how of our FX experts.”
Founded in 2016, iBanFirst has quickly established itself as the leading alternative for businesses that trade and carry out international payments. iBanFirst offers a next-generation cross-border payment experience that combines a powerful platform and the support of FX experts. With iBanFirst, executives and finance teams can get direct access to currency markets, receive, send and track payments and develop tailored hedging strategies.
With more than 350 employees in 10 European countries, processing a volume of transactions worth more than €1.4 billion each month, and listed by the Financial Times as one of Europe's fastest growing companies, iBanFirst became in less than 10 years a trusted partner for SMEs across borders.
iBanFirst has the financial backing of the French public investment bank (bpiFrance), European venture capital leaders (Elaia, Xavier Niel), and the American investment fund Marlin Equity Partners (more than 8 billion dollars of capital under management).
Regulated by the National Bank of Belgium as a payment institution, iBanFirst is authorized to operate throughout the European Union. Member of the SWIFT network and SEPA certified, iBanFirst holds AISP and PISP accreditations under PSD2.