Information Technology
Nium Launches Global Collections to Power Cross-Border Collections for Banks
This launch unlocks new revenue streams for banks by combining collections, FX conversion, and payouts in one platform. Banks can white label the solution, retain ownership of the customer relationship, and recapture FX margins lost to fintechs on inbound cross-border payments. Customers benefit from a one-stop-shop experience without additional onboarding requirements.
"With Global Collections, we're continuing to close the loop for banks, who are currently losing volumes to fintech providers," said Ranaditya Palit, Head of Product at Nium. "For years, Nium has helped banks and financial institutions power their payouts. Now, they can collect funds on behalf of their customers, settle in any currency, and capture the revenue opportunities of cross-border flows, all through our APIs."
By using Nium's Global Collections, banks gain access to:
Global Collections joins Nium's growing suite of solutions for banks, including global payouts, real-time FX, and compliance infrastructure. Together, they provide banks with the same rails as fintechs, with the security, transparency, and reach of Nium's global network.
Nium, the leading global infrastructure for real-time cross-border payments, was founded on the mission to deliver the global payments infrastructure of tomorrow, today. With the onset of the global economy, its payments infrastructure is shaping how banks, fintechs, and businesses everywhere collect, convert, and disburse funds instantly across borders. Its payout network supports 100 currencies and spans 190+ countries, 100 of which in real-time. Funds can be disbursed to accounts, wallets, and cards and collected locally in 40 markets. Nium's growing card issuance business is already available in 34 countries. Nium holds regulatory licenses and authorizations in more than 40 countries, enabling seamless onboarding, rapid integration, and compliance – independent of geography. The company is co-headquartered in San Francisco and Singapore .
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