Australia based payment solutions provider OFX (ASX:OFX) has announced a new partnership with German finance software company Technosis, to launch an integrated multi-currency payment solution. This solution aims to help businesses in Germany save time with fast, secure cross-border payments and competitive foreign exchange rates.
Seamless FX Solutions for German Businesses
For businesses looking to make and receive cross-border payments, OFX offers an innovative and competitive alternative to banks. Founded in 1998 and headquartered in Sydney, Australia, OFX has eight offices across the world with more than 700 staff. OFX helps businesses and consumers make international money transfers at great rates in over 50 currencies across 170 countries.
Through its ‘digital + human’ business model, OFX complements its simple, self-service online platform with 24/7 localised customer support. Customers can speak to currency specialists anytime, day or night. OFX specialises in currency risk management for SMEs who trade overseas, helping businesses protect themselves from the risk associated with volatile currency markets.
Innovative Integration
Technosis has integrated functionality into its existing platform to enhance the user experience with simplified FX solutions provided by OFX. This will streamline finance operations for Technosis customers by eliminating the need to juggle multiple payment platforms, lengthy workflows, and manual processes. This integration streamlines the transaction process, reduces transaction costs, and provides real-time tracking and reporting features, making it easier for clients to manage their finances across borders.
Maeve McMahon, President of OFX, EMEA, said,
“We are delighted to partner with Technosis. This strategic partnership supports our ongoing commitment to the German market. Germany is a key growth market for OFX. We recognise the Mittelstand’s need for a fast, secure solution to send and receive money internationally at competitive exchange rates, coupled with excellent customer service. Our partnership with Technosis, along with several key hires in Germany, enables us to offer a unique and compelling value proposition. We’re proud to work with Technosis and provide seamless and cost-effective financial solutions to businesses in Germany.”
Dierk Rathjen, COO of Technosis, remarked,
“Technosis has partnered with OFX to provide our clients with access to favourable exchange rates for bank transfers, combined with the exceptional research and service capabilities of an international partner. This partnership enables our clients to utilise the OFX network to establish bank accounts in countries where their current partners are either not present or inaccessible via EBICS. The integration is seamless, ensuring that existing processes remain unchanged.”
Continued Growth for OFX in Europe
Following the establishment of OFX’s European HQ in Dublin in 2020, OFX’s European business has gone from strength to strength. OFX’s growth in the EU increased by 140% in the financial year ending March 2024. OFX is listed on the Australian Securities Exchange. To date, over 1 million customers globally have trusted OFX with transfers over €176bn+.
About OFX
OFX moves money globally for businesses and individuals. OFX is regulated by the Central Bank of Ireland as an Electronic Money Institution (Firm Ref. No. C190174) and has been listed on the ASX since 2013. We’re regulated by over 50 regulators globally. With 700+ employees globally, we have offices in Frankfurt, London, Dublin, Sydney, Auckland, Hong Kong, Singapore, Toronto, and San Francisco. We’re part of the same local communities as our clients while staying connected to the global OFX network.
About Technosis
Technosis is a German finance software company specialising in cutting-edge technology solutions for the financial sector. Founded in 1992, Technosis aims to transform businesses through innovative software, enhancing efficiency, security, and user experience in financial transactions.
