Maltese business banking platform Fyorin has entered a partnership with London-based Tribe Payments, enabling the former’s clients to send and receive money across borders using multiple payment methods and create Mastercard virtual cards instantly for online spending.
Fyorin is a business banking platform that provides SMEs and sole traders access to a wide range of financial services, including the creation of dedicated multi-currency IBAN accounts, sub-accounts, corporate virtual cards, and soon invoice financing.
Thanks to its cloud-based platform, Tribe will now enable Fyorin’s UK and European customers to:
“As a platform focusing on making payments and financial operations more efficient for global businesses, Fyorin wanted a technology partner that can deliver versatile and modular services integrated into multiple payment schemes,” Fyorin Co-Founder Christian Joseph Agius said.
“Tribe’s current capabilities and its openness to innovation was key for us to partner with them. We are already thinking ahead in this partnership with custom solutions that would simplify and improve the day-to-day financial operations of any business,” he continued.
By seamlessly connecting an end-to-end global financial ecosystem of banks and non-banking providers such as payroll and accounting solutions, Fyorin’s customers can manage and tailor all their finances from one unified portal.
With Fyorin, customers can reduce time spent interacting with different suppliers for their business needs and automate many essential back-office payment operations, such as financial reporting and reconciliation.
“The business banking space is ripe for disruption, with everyone from corporates to sole traders crying out for integrated and digital first services,” Tribe Payments Managing Director Alex Reddish said.
“With Fyorin, digital businesses are no longer held back by frustratingly slow and labour-intensive processes required to deal with several financial service providers. And now, without modular platform, we’re helping Fyorin’s customers to save time and money by taking the burden out of global payments and transactions,” he concluded.
He takes over from Alejandro Gosttuski, who will now take on the role of an Advisor.
The company, set to launch soon, will seek to provide clients with ‘customer-centric and innovative’ financial services.
The Malta Stock Exchange recently joined other exchanges for the inaugural Ring the Bell for Climate initiative.
Family businesses account for more than 70% of Malta’s SMEs, and are hence vital components of the local economy.