TMF Group to broaden access to cross-border payments via Ibos network
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The agreement, formalised through a memorandum of understanding signed by both parties, will bring the following benefits:
• Clients' expanded global access to banking and corporate services across 87 jurisdictions, thanks to a structured process for collaboration between TMF Group and IBOS member banks.
• Joint market intelligence initiatives to support informed decision-making, including assets like TMF Group's Global Business Complexity Index and country profiles.
• TMF Group's anticipated entry into IBOS as a Strategic Affiliate is currently subject to legal and governance review. This move aims to unlock joint operational efficiencies and strengthen mutual cross-referral channels.
• Establishment of a formal governance structure and dedicated working groups to oversee the partnership, enhance compliance and track performance.
Mark Weil, TMF Group's CEO, commented: 'This partnership builds on our strong track record of regional collaboration, including our long-standing relationship with Banco Santander. This deal is the natural evolution of TMF Group's and IBOS' shared commitment to simplifying global business. By combining our global infrastructure and compliance expertise with IBOS' trusted banking network, we'll be able to deliver a more seamless service for clients navigating complex international markets.'
Mario Recchia Domenico, Chairman at IBOS Association, said:'TMF Group brings a level of global coverage and service integration that complements our member banks perfectly. Together, we'll offer clients a more connected and efficient way to expand internationally. We're delighted to welcome them into the IBOS ecosystem!'
Manoj Mistry, Managing Director of IBOS Association Ltd, added: 'This partnership with TMF Group marks a pivotal step in our mission to provide clients with seamless access to global banking and corporate services. TMF Group's extensive jurisdictional reach and operational expertise align perfectly with IBOS' commitment to delivering trusted, cross-border solutions. Together, we are creating a more connected ecosystem that empowers businesses to expand with confidence and clarity in an increasingly complex world.'
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