iBanFirst, global financial services provider delivering solutions across banking borders, announced that they will join forces with NBWM, first foreign exchange start-up in the Netherlands with more than 1000 clients and 2 billion transactions processed a year. Following this move, over 3500 corporate clients across Europe will benefit from iBanFirst’s online platform, an interface to make cross-border payments, hedge foreign exchange risks and finance their international growth.
Joining forces with NBWM falls within the scope of iBanFirst’s stated ambition to increase its geographical footprint in European since its second round of funding in October 2018. But this is also the reunion of entrepreneurs who share the same values and goal of helping companies do business abroad. The founders of iBanFirst and NBWM have worked together at Saxo Bank in the past, as French and Dutch counterparts, and followed parallel journeys since.
Pierre-Antoine Dusoulier, CEO and founder of iBanFirst said: “I have known PJ Datema and Peter Comstock for a long time. We have worked together at Saxo Bank and they started focusing on businesses’ international payment issues at the same time as us. And I was very impressed with what they have accomplished in the Netherlands. NBWM counts, in particular, highly skilled technical teams who have met the needs of very specialised clients.”
Both companies will operate under the iBanFirst brand and iBanFirst will use NBWM’s Amsterdam office until mid-2020. Does it change anything for NBWM clients? They will keep the same contact persons and enjoy the same quality of service. However, they will take advantage of more services such as nominative IBANs, more hedging
solutions and appreciate the user-friendly interface of the iBanFirst platform to make their transactions and international payments.
iBanFirst’s growth has been fueled by a massive investment in its platform and online solutions to offer an ever broader range of financial services to companies, making both fintechs complementary. “The combination of technology and personal service is exactly what we have in common with iBanFirst and what makes it a perfect match.” explained Joost Derks, Director of NBWM.
Looking back on of NBWM’s and iBanFirst’s respective paths and considering their joint future, PJ Datema, founder of NBWM said: “We were the first disruptors in the Dutch market, like iBanFirst was in France and Belgium. Together with iBanFirst we are looking forward to taking the whole organization to the next level with a state-of-the-art
technology platform and a service-oriented sales force. It is a big step forward into the future."