Building on a successful existing relationship, Derivative Path, Inc. and FNBO (First National Bank of Omaha) are delighted to announce the expansion of their partnership to introduce an advanced FX Payments solution tailored for correspondent bank clients. This collaboration builds upon the solid foundation of trust established through FNBO’s use of Derivative Path’s DerivativeEDGE platform and leverages each organization’s strengths to deliver innovative financial opportunities to the market.
The expanded partnership capitalizes on Derivative Path’s cutting-edge technology and FNBO’s extensive banking network to offer a differentiated FX Payments option designed to streamline international payment processes. By combining FNBO’s banking services with Derivative Path’s cloud-based platform, correspondent bank clients will have a solution that simplifies the complexities of cross-border transactions, offering features such as automated access to liquidity, real-time currency conversions, nostro account management and competitive FX quotes.
Zack Nagelberg, Chief Growth Officer at Derivative Path, emphasized the mutual benefits of the new solution: “We’re proud of the relationship we’ve built with FNBO over the last several years as we’ve helped them strengthen their interest rate derivatives capabilities. Extending our collaboration to include FX Payments for mutual depository clients further solidifies our shared vision for offering state-of-the-art financial solutions. Together, we’re setting new standards in the industry for efficiency and customer experience in international payments.”
Michael Salerno, Managing Director of Global Banking at FNBO, echoed Nagelberg’s sentiments, “Our collaboration with Derivative Path has already brought great value to our Rates Hedging Program. Incorporate the FX Payments solution was a natural next step. This move aligns with our commitment to innovation and excellence in banking services.”
The FX Payments product offers quick implementation, branding and white-labeling capabilities, and an intuitive interface, ensuring a seamless and efficient experience for banks and their customers. This strategic move demonstrates the commitment of FNBO and Derivative Path to innovation and client service in the financial sector.