TransferMate and Axletree have now partnered

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TransferMate, the world’s leading provider of payment infrastructure as a service and Axletree, the leading provider of global financial connectivity and integration solutions  announced their agreement to enter a strategic alliance to enable cross border payments and receivables services across Axletree’s global and diverse client base.

Through this partnership, Axletree will integrate its financial messaging integration platform, Symmetree with TransferMate’s global payment network to provide a seamless cross border payment and receivables experience. This provides a greater level of flexibility, speed and visibility to deliver a frictionless payment experience.

The primary benefit of the TransferMate-Axletree partnership is that Axletree customers now have access via the Axletree Marketplace to an expansive international banking network that allows them to make and receive global B2B payments as easily as making a domestic funds transfer. TransferMate provides this solution in multiple currencies, faster and more securely than traditional banking methods and with complete transparency of the transaction to the point of final reconciliation. This delivers a level of confidence to its customers never experienced before, eliminates unnecessary financial risk and drives significant cost-efficiency benefits. This is made possible because TransferMate is the world’s leading B2B provider of payments infrastructure as a service. It has 4 core competencies that have been meticulously built over more than 10 years which are driving a new way of doing business. These are:

(1) the most comprehensive global licensing network that incorporates 54 currencies in every major jurisdiction around the world;

(2) the resulting banking network covering over 200 countries and jurisdictions;

(3) a world-beating compliance infrastructure to proactively mitigate and manage risk; and finally,

(4) TransferMate’s advanced API technology.

Leveraging these 4 core competencies, Transfermate offers a global payments infrastructure that results in significant financial and efficiency gains across the entire payment journey for both suppliers and buyers.

“Our unrivaled licensing and banking networks are setting new standards of security, transparency and speed for B2B cross-border payments,” said Sinead Fitzmaurice, CEO of TransferMate Global Payments – a subsidiary of the CluneTech Group. “We are delighted to bring these industry-leading capabilities to this new strategic partnership with Axletree, helping them deliver best-in-class connectivity and a new level of international payments experience to their clients in Latin America and across The Caribbean.”

For over 20 years, Axletree has provided many of the top financial institutions and corporates across 3 major continents with secure and innovative financial messaging solutions using the SWIFT network to facilitate straight through processing and interoperability.  In many cases, regional challenges related to correspondent banking networks has resulted in friction being introduced to the payment lifecycle, thus making it cumbersome and cost-prohibitive. Given Axletree’s philosophy of providing peace of mind to our clients, the company realized that together with TransferMate, they would be able to address these challenges and provide value-added benefits within the payment lifecycle, including speed of execution, end to end tracking and visibility.

“Following our successful brand launch in September 2021 and in line with our strategy to provide our clients with the best-in-class financial connectivity and integration experience, we identified TransferMate as being a key strategic partner in helping us to achieve this goal,” said Andrew O’Garro, Head of Strategic Innovation at Axletree. “When we looked at the profiles of both our companies, we saw many synergies that makes this partnership a no-brainer and a win-win for our clients. The challenges that exist in many countries related to correspondent banking and the heavy friction of moving funds internationally are addressed through TransferMate’s global network. Our expertise in connecting our clients to global market infrastructures and networks allows us to seamlessly integrate with TransferMate’s global payment network which covers 160 countries in 134 currencies. We are excited about this partnership and see this continuing to grow in the near future.”

Symmetree by Axletree is a state-of-the-art solution that normalizes, validates, enriches, and transports financial messages to any payment rail or market infrastructure, thus enabling STP and lowering the cost of payment processing. Symmetree has allowed Axletree’s global client base to benefit from efficient payment processing through its agnostic approach to global formats and payment rails.

About TransferMate

TransferMate is a subsidiary of the CluneTech Group founded by Terry Clune — is the world’s leading provider of B2B payments infrastructure as a service, enabling companies to send and receive cross-border payments faster, easier and at lower cost. TransferMate, under the leadership of Clune and CEO Sinead Fitzmaurice, has built one of the largest portfolios of payments licenses worldwide, including 51 US states and territories, to support trading in more than 160 countries and 134 currencies. Leading banks, fintechs and software providers partner with TransferMate to offer an enhanced user experience for their business customers. The company has created bespoke integrations for banks like ING and AIB, who are also investors in the company. The TransferMate API solution allows partners to digitalise the payments flow within their software, enabling all businesses to achieve significant time and financial savings.

About Axletree

Axletree Solutions delivers mission-critical services across the financial transaction ecosystem forfinancial and non-financial institutions worldwide. Axletree understands the unique challenges banks and corporates face while optimizing their financial connectivity and payment processes, and helps them remain agile in a rapidly evolving landscape by combining best practices with future-ready solutions. Founded in 2001 in the United States, Axletree’s purpose is to deliver peace of mind through innovative technology and an unrivaled client experience.


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Vice President - Cyber security - State Street

Liam is an experienced Cyber Security Manager with a demonstrated history of working in the information technology and security industry. Skilled in Incident Response, People Management, Talent Development and Process improvement. Strong SOC and Talent Management experience with a MSc in Computing focused on Applied Cyber Security from Technological University Dublin. While also holding certs in GIAC SANs Incident handler (GCIH) & Cyber Security Leadership from the Professional development academy.

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