AFEX Forms Partnership with TradeRiver

AFEX API automates payments & foreign exchange services within the TradeRiver trade credit platform 

AFEX, one of the world’s largest non-bank providers of global payment and risk management solutions, has announced a partnership with TradeRiver, the alternative finance provider for SMEs.

The partnership sees AFEX, via its API, embed international payment and foreign exchange capabilities directly into the TradeRiver trade credit platform. TradeRiver clients are now seamlessly able to execute foreign exchange at the same time as initiating their trade credit related payment, providing improved efficiency and transparency to the process.

AFEX clients are also able to benefit from TradeRiver’s cross border trade credit platform to ease cash flow pinches and take advantage of opportunities in the market. TradeRiver offers up to £5million in unsecured growth working capital to businesses provide though a quick and easy online paperless application process.

“This partnership combines our payments and FX expertise with TradeRiver’s trade finance expertise giving clients access to the best possible advice and service with transparent pricing to meet their international working capital needs,” said Stuart Holmes, General Manager EMEA, AFEX. “We are delighted to be partnering with TradeRiver, which shares our commitment to supporting UK SMEs as they look to trade internationally.”

“The strategic corporate partnership with AFEX marks a very significant step for TradeRiver in terms of both improving and expanding our product offering,” said Richard Fossett, Chief Executive Officer, TradeRiver. “In a challenging environment for British businesses this partnership can help give them an edge against their competitors by providing extremely competitive fixed-margin rates for overseas payments.”

Commenting on the API integration, AFEX’s Head of Integrated Solutions for Europe, the Middle East and Africa, Ramnath Ramhit, said: “Like AFEX, TradeRiver is a technology-led financial services company. Their offering is fully online, providing a straight-through service and experience to clients. Our API complements that, enabling its client-base to benefit from AFEX’s extensive payment and foreign exchange capabilities within the TradeRiver ecosystem.”

Established in 1979, AFEX is a leading global payment and risk management solutions provider that specialises in cross-border transactions and provides market expertise and unrivalled customer service for businesses and private clients. With a client base of over 35,000 active commercial customers worldwide, AFEX prides itself on tailoring its payment and foreign exchange services to meet its clients’ needs. AFEX’s online payment platform – AFEXDirect provides clients with one consolidated overview of their currency exposure and makes it easy for companies to manage international invoices. AFEX maintains offices across the Americas, EMEA and Asia Pacific.

TradeRiver is changing the way trade is financed. TradeRiver is a simple alternative to conventional bank trade facilities and provides a source of unsecured working capital, allowing companies to grow faster. TradeRiver provides UK businesses with unsecured revolving credit facilities to quickly fund their suppliers Since 2012 TradeRiver has funded over 1,700 transactions in 30 countries around the world.