Asia-Pacific is forecasted to be the fastest-growing market for cross-border payments by 2030, reflecting rapid economic growth and advances in infrastructure and payments technologies. In fact, Australia has been at forefront of payments innovations and adapting to new trends such as real-time payments.
As demand for cross-border payments grows in the region, Convera is excited to announce that it has entered into new agreements with eight Australian based financial institutions, including: Teachers Mutual Bank, Bank First, Greater Bank, Australian Unity, The Mutual, Dnister Ukrainian Credit Co-Operative, Australian Mutual Bank and Southern Cross Credit Union. This extends Convera’s coverage to 60+ financial institutions in Australia and over 1800 banks, credit unions and fintechs globally.
Adam Curtis, Regional Director of Financial Institutions, at Convera highlights the local team’s commitment to customers in the region: “It’s incredible how the team was able to mobilize and support the onboarding and activation of multiple financial institutions in a short period of time. Many of these clients were left without an international payments service following the exit of their provider in 2023, and we were able to match their requirements with speed and agility.
Curtis continued, “Our value proposition has resonated strongly. Beyond the continuity of service, we have also been able to extend additional value to their customers via our highly integrated, multi-channel technology solutions.”
Convera has also announced recent contract renewals with several long-term financial institution partners including Bank Australia, P&N Group (BCU Bank and P&N Bank) and People First Bank.
Sam Fitzpatrick, Global Head of Financial Institutions at Convera, elaborated: “We recognize the important role of trust in servicing our financial institution partners globally. I’d like to thank our clients for the trust they continue to place in Convera to provide international payment and FX services. Whilst the Convera brand may be new, our business has a long history. Our relationships in the Credit Union and Mutual sector have been a core part of our Australian business for over 20 years. We are excited to evolve and continue investing in our Financial Institutions business to better serve the needs of our customers and their members.”
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