Nium, a leading international player in modern money movement, has reportedly introduced a new brokerage payments method that provides the global financial institutions (FI) a cost effective and faster way of settling transactions. This allows the institutions to select United States brokerages allowing customers to invest in U.S. equities easily.
During comparison to transactions settled through the renowned International Payments Network SWIFT, Nium has lowered the settlement price by up to 90% for the Financial Institutions for international brokerage account dealings.
As per credible reports, the brokerage firms across the globe are witnessing an increase in the retail investment in the global equities market, especially in the United States.
Till now, the transaction settlement for financial institutions providing services to these brokerages over legacy payment networks has been slow and expensive.
However, with Nium, Financial Institutions will get the opportunity to bring down costs and pass the prices to customers or enhance their profits.
Apparently, one of the perks for the existing Nium customers is that they don’t require additional technology incorporations to take advantage of this solution.
Frederick Crosby, Chief Revenue Officer at Nium stated that they are constantly aiming to strengthen the evolving businesses with an international presence to make money movements in a fast, smart, and safe way.
Frederick commented that the advanced payments methods for the Financial Institutions which transfer money to brokerages permit their retail users to invest in the fast and simple US equities.
He further added that the new solutions at Nium reduces the transaction expenses allowing FI’s to either re-invest the profits in business or share the cost savings.
According to sources, the financial institutions and the banks merging with Nium’s international payments network and new brokerage methods will enjoy the benefits of improving customer satisfaction, cost savings of at least 90%, and augmented demand for new partnerships.