Derivative Path, Inc., a provider of capital markets technology and derivatives execution services, announced a partnership with Wells Fargo, to enhance the payments capabilities available to banks.
Leveraging Wells Fargo’s FX Payment APIs integrated with Derivative Path’s platform, this initiative is designed to work within the digital experiences of bank customers, “providing real-time FX rates across over 120 currency pairs and streamlining the collection of settlement details at the point of payment creation.”
It marks an evolution in FX payment capabilities for these banks, enabling them to overcome “traditional market barriers efficiently and securely.”
This solution addresses the inefficiencies associated with international transactions by streamlining payment workflows.
Regional and community banks can leverage this tech to provide transparent FX payment services, akin to those “offered by the largest financial institutions.”
The solution has live customers with more “currently being implemented.”
Among the adopters are Busey Bank and FirstBank (Nashville, TN).
Pradeep Bhatia, CEO and Co-Founder of Derivative Path said:
“Our technology is designed not only to meet the current and future needs of these banks, but also to integrate seamlessly into their digital platforms, enhancing the overall customer experience and extending their international capabilities.”
Dan Vogt, Managing Director, Head of FX Payment Solutions Sales & Product Strategy at Wells Fargo said:
“Working with Derivative Path allows our bank clients to leverage our robust APIs to bring FX payment solutions to their customers via digital channels where they want to transact.”
This solution is part of Derivative Path’s strategy to empower banks with “financial tools necessary to thrive in a globalized economy.”
As Derivative Path continues to expand its network of partnerships with liquidity providers, the focus remains on “enhancing service offerings for community and regional banks, reinforcing their competitive edge and operational efficiency.”
Derivative Path empowers institutions across the capital markets “with AI-driven tech and expert advisory solutions.”
Their cloud platform supports banks, credit unions, private equity firms, corporates, money managers, and insurance companies in “managing interest rate, FX, and commodity risks, optimizing hedging strategies, and streamlining cross-border payments.”
With a client base spanning more than 250 institutions, they deliver solutions that enhance risk management and drive operational performance.
Via partnerships including Wells Fargo, FNBO, Q2, and Jack Henry, they provide capabilities to “help clients achieve their financial objectives in an ever-evolving market.”
