Derivative Path and Wells Fargo Set to Boost Global Payments

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Derivative Path and Wells Fargo Set to Boost Global Payments

Why do regional and community banks suffer from market barriers?

Several community and regional banks face traditional market barriers due to a combination of regulatory complexities and limited resources and technology.

They often suffer from higher costs and slower transactions as a result of relying on correspondent banks to help with their lack of global payment infrastructure.

Many struggle to provide real-time, efficient financial services due to the fact they rely on legacy systems.

This, combined with the fact that customers expect faster and seamless transactions and they have little access to risk management and liquidity tools, limits their ability to work in derivatives and FX markets.

However, strategic partnerships with fintech firms and global banks – such as the one between Derivative Path and Wells Fargo – help banks tackle these challenges by embracing modern financial technology to improve competitiveness in our dynamic financial ecosystem. 

What is Derivative Path’s broader strategy?

This partnership will support Derivative Path’s broader strategy to prepare all banks for a globalised economy by providing them with several cutting-edge financial tools.

The organisation does this by focusing on:

Bridging the technology gap – regional and community banks can access risk management, FX and derivatives trading tools through a cloud-based platform

Enhancing global payment capabilities – Derivative Path improves cross-border transaction efficiency, enable real-time FX payments and remove reliance on traditional correspondent banking networks by partnering with large financial institutions

Simplifying regulatory compliance – Derivative Path supports banks to navigate KYC, AML and risk reporting requirements by embedding automated compliance tools 

Increases access to risk management and liquidity – Banks can manage interest rate risks and currency more effectively by equipping them with hedging solutions and connecting them to global liquidity pools 

Driving operational efficiency & cost savings – Derivative Path helps banks improve execution speed, reduce costs and enhance customer experience by automating trading processes and payment workflows

Pradeep Bhatia, CEO and Co-Founder of Derivative Path, explains: “This collaboration with Wells Fargo marks a critical advancement in making global payments accessible and efficient for regional and community banks. 

“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.”

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