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AIB and B2B payments fintech TransferMate have agreed to commence a strategic partnership focused on providing Irish businesses with world-leading international payments and receivables capabilities. TransferMate’s award-winning cross-border technology platform sends or collects funds globally. AIB has also agreed to invest €30m in TransferMate in exchange for a small minority equity stake in the Kilkenny-based fintech company.
The collaboration aims to decrease international payment costs for business customers, improve cash flow for businesses with international supply chains and enhance payments transparency through a technology enabled platform.
The investment is in line with AIB’s strategic priority to increase the pace of innovation to serve changing customer needs and continue to ensure AIB Business customers have access to some of the best digital banking capabilities in the world.
AIB is exploring opportunities for our Business Customers to benefit from our new relationship with TransferMate and we will provide you with developments on our AIB Business Website in due course.
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