EasyMoney has partnered with AFEX, which provides non-banks with global payment and risk management solutions, to offer better foreign exchange rates and reduced fees.
The peer-to-peer lending platform said that integrating the AFEX API into its platform will also quicken its settlement times via local facilities to investors wishing to fund GBP-denominated assets with a foreign currency.
The AFEX partnership also enables EasyMoney to offer its services to more clients, the platform added.
“We thoroughly researched the market before choosing to work with AFEX,” said Andrew de Candole, chief executive of EasyMoney.
“We were looking for smooth API integration coupled with competitive foreign exchange pricing.
“This service will offer investors with accounts denominated in different currencies the ability to convert their funds into pounds.”
“We’re thrilled to partner with EasyMoney, an innovator in P2P lending,” said Wayne Mitchell, managing director EMEA at AFEX.
“Our API technology will allow EasyMoney to reach more investors and help the platform scale. Our integrated solutions team seek out partners like EasyMoney, which provide technology-driven alternatives to traditional services. We’re looking forward to a successful partnership.”
Over the past two months, EasyMoney has called for P2P platforms to be more transparent over withdrawal waiting times and urged investors to look at Innovative Finance ISA options ahead of the upcoming March Budget.