Derivative Path, FNBO Partnering to Offer Advanced FX Payments Solution for Correspondent Bank Clients

Derivative Path, FNBO Partnering to Offer Advanced FX Payments Solution for Correspondent Bank Clients 

Author:  Michael Salerno, Vice President, International Banking

Building on a successful existing relationship, FNBO is expanding its partnership with Derivative Path, Inc. to introduce an advanced foreign exchange (FX) payments solution tailored for correspondent bank clients.

The collaboration builds upon the foundation of trust established through FNBO's use of Derivative Path’s DerivativeEDGE platform, which has brought great value to the bank’s Rates Hedging Program. Incorporating an FX payments solution was a natural next step, and the move aligns with our commitment to innovation and excellence in cross-border payments.

The expanded partnership capitalizes on Derivative Path's technology and the bank’s front office, operations, and network to offer a differentiated FX payments option designed to streamline international payment processes.

Combining FNBO’s banking services with Derivative Path's cloud-based platform, will give correspondent bank clients a solution that simplifies the complexities of cross-border transactions, offering features such as automated access to liquidity, real-time currency conversions, nostro account management and competitive FX quotes.

The FX Payments product offers quick implementation, branding and white-labeling capabilities, and an intuitive interface, ensuring a seamless and efficient experience for banks and their customers.

Zack Nagelberg, Chief Growth Officer at Derivative Path, said extending the collaboration to include FX payments for mutual depository clients further solidifies the organizations’ shared vision for offering state-of-the-art financial solutions.

“Together, we're setting new standards in the industry for efficiency and customer experience in international payments," Nagelberg said.

For more information about the FNBO and Derivative Path partnership and the FX payments solution, visit FNBO and Derivative Path.

About the Author

Mike Salerno joined the bank in 2002 and currently leads the Global Banking team, which includes business development, international payments, foreign exchange management and trade finance solutions for corporate and correspondent banking customers. International issues can present challenges for organizations, and Mike enjoys creating simple and transparent solutions that reduce the complexity of doing business internationally.