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Financial services KVB Global Capital teams up with Xero to bolster cross-border settlements for SMEs

Sydney, Australia – Given the growing demand by SMEs for international payments, financial services company KVB Global Capital has partnered with Xero, the global small business platform, to offer multi-currency cross-border payments with competitive exchange rate advantages and a global payment network.

The partnership aims to simplify cross-border payment processes and improve financial workflows for SMEs by combining Xero’s capabilities and the advantages of GCFX, which is its global currency trading and settlement service provider,  further reducing the costs of engaging in global business.

Business users only need to connect their GCFX account with Xero to enjoy two major benefits, namely automatic bank feeds, which synchronize transactions conducted through GCFX to the user’s Xero account daily without the need for re-entry of data, simplifying the reconciliation process for the finance team; and the express FX payments of bills, where users can manage payment instructions by currencies, recipients or due dates, and enjoy a competitive exchange rate to cater for their different business and geographic needs by using the GCFX app.

Ning Sun, KVB Global Capital’s executive director, commented, “We are pleased to work with Xero in empowering SMEs engaged in global businesses, and reducing the time and money spent on cross-border settlement for them, along with enjoying an efficient and convenient funds transfer experience.”

KVB Global Capital said that the integration with Xero will be initially launched in Australia and then connected to other countries and regions later.