iBanFirst targets over EUR 1 bln cross-border transfers operated this year

iBanFirst, one of the largest international providers of foreign exchange and international payments for companies (PSP - Payment Service Provider), targets "to double at over EUR 1 bln "the volume of cross-border payments intermediated, from the EUR 0.7 bln worth of transactions operated last year.

In 2022, the number of Romanian companies using the iBanFirst platform quadrupled, reaching 330 clients.

On average, 30 new Romanian companies open accounts every month, mainly for international digital payment services and hedging solutions. Most of these companies deal with import-export activities and operate in the automotive, agriculture, IT and telecommunications, construction, and retail industries.

The value of transactions carried out via the platform thus varies, depending on the profile of each client, from a few thousand euros to millions of euros.

"We can definitely say that Romania is one of the most dynamic markets for us and a success story for the region. The local office is the first one to reach this volume of transactions after only one year of operations. It is a result of both the local team, which has solid expertise in the FX market, especially of Romanian companies, which in the context of a challenging year, with the war in Ukraine and high inflation, not only demonstrated their resilience but have been able to increase their business activities across borders", said Johan Gabriels, Regional Director iBanFirst.

(Photo source: the company)