Instant cross-border payments: The ECS Fin – Roxe alliance

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Instant cross-border payments: The ECS Fin - Roxe alliance

Many banks, forex traders, and brokers make today’s cross-border payments expensive, complicated, and slow. The invention of blockchain is revolutionizing the instant global clearing and settlement of payments and remittances, traditional assets, and digital assets. Roxe is a next-generation, open global payment network that uses blockchain technology to save financial institutions significant time and costs.
Instant cross-border payments: The ECS Fin - Roxe alliance

Roxe * ECS Fin = Changing Instant Cross-Border Payments

ECS Fin and Roxe have partnered together to provide an Instant Settlement Network that integrates seemingly into the business operations to provide fast, inexpensive, and highly reliable clearing and cross-border settlement of payments and remittances.

As banks are under pressure to deliver the same domestic payments experience across cross-border transactions, Blockchain has the potential to provide that experience and reduce costs across the payments value chain.
How do ECS Fin and Roxe partnership work?

How do ECS Fin and Roxe partnership work?

ECS Fin ensures that Roxe is seamlessly implemented into your current payment architecture. IMS Payments’ workflow management system systematically orchestrates payments, establishes smart routing rules, builds custom reports, stores data, and much more.
blockchain and cross-border payments
The business will now be able to send and receive flat payment transactions within a few seconds by connecting with Roxe via ECS Fin. A retrospective view of sending the money from America to India was quite different. And correspondent banks played a major role in making the transaction happens. The originator bank needs to send the money first to the correspondent bank in order to make payments to the end beneficiary.

However, Roxe’s hybrid blockchain technology now decentralizes finance liquidity pools (DeFi pool) for FX and makes payments to the end beneficiary without an intermediary. This lowers the risk of FX rate loss, reduces costs for your customers, and frees up capital held in Nostro/Vostro accounts.

  • Send cross-border payments to beneficiaries in seconds
  • No upfront fees and significant cost savings vs messaging services ($1.50 fee vs. $10+)
  • Immutable transaction record

Benefits of Roxe* ECS partnership for cross-border payments

Roxe employs decentralized blockchain technology to settle cross-border payments within seconds antithesis of days. ECS Fin provides the interface (IMS Payments) that banks will use to manage transactions and send/receive instructions to/from the Roxe network. ECS Fin also integrates the solution according to a business’s internal processes, including compliance screening, core, mobile applications, and much more. Below shared are the benefits that you can reap:

Real-time Access

Greater transparency, efficiency, and security about the cash position

STP

Obtain end-to-end STP from initiation to settlement 

Less Expensive

No up-front fees and significantly lower transaction costs*

Nostro/Vostro Channels

Delivery of funds and payment instructions occur in unison.

Workflow Orchestration

Customized to your business processes 

Faster Settlement

Settlement in seconds instead of days

Connectivity

Supports all protocols 

Are you ready to embrace speed, security, and full traceability on cross-border payments?

ECS Fin believes that blockchain technology greatly influences financial infrastructure and empowers financial institutions to deliver better customer experience. Since banks, remittance companies, and payment service providers are ripe to leverage blockchain to reduce costs without exposing themselves to cryptocurrency risk or volatility. Be ready for the upcoming developments in the industry:
Are you ready to embrace speed, security, and full traceability on cross-border payments?
  • Send minted currencies between counterparties faster and cheaper than other methods
  • Reduce fraud prevention operations costs by at least 50%
  • Identity theft or fraudulent transactions much faster
  • Reduce the cost for remittances from an average of 11% to 2-3%
  • Increase reliability, security, and transparency on roxe rail networks
  • Reduce intermediary fees and pass savings on to customers

Enjoy Better Faster Stronger global payments!

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