After a successful entrance into the market, Ebury now plans to further develop its global transaction banking platform for the Latin America market and expand its range of services to better serve companies dealing in this region to meet client demand.
The new office in Sao Paulo, Brazil, gives SMEs in Europe access to a specialist provider of foreign exchange and other corporate banking services in a particularly complex market and access to the wider Latin America region. It also helps businesses within the region simplify international trade.
Ebury’s capabilities allow companies to send and repatriate funds from Brazil, as well as providing foreign exchange protection facilities to hedge against the volatile FX market.
The Brazilian office has also provided European SMEs with local, expert knowledge of the Latin America market which is vital given the specific operational and fiscal characteristics of the region.
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Expansion in Latin America is a major strategic focus for Ebury following the investment of Banco Santander in 2019 as it continues to roll out its innovative proposition to new global markets.
Ebury offers financial solutions to help SMEs and midcaps trade internationally. It specialises in international payments and collections, offers foreign exchange in over 130 currencies for both major and emerging markets, as well as cash management strategy, trade finance, and foreign exchange risk management.
Tom Davies, UK Country Manager at Ebury, said: “For SMEs in Europe that trade with Latin America, Ebury’s services are invaluable in what can be a complex and volatile market.
“It is vital to have an expert partner with boots-on-the-ground to advise and fulfil international payments, hedge against currency risk and provide a high level of operational support and customer service.
“We are excited to accelerate the expansion of our operations in Brazil and the wider Latin America region and cement our reputation as the partner of choice for European SMEs operating in this region.”