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Ebury, the UK-based payments firm, announced on Tuesday 15 October it is opening its 40th international office in Auckland, bringing trade finance, payments, and foreign exchange services to small- and medium-sized enterprises (SMEs) in the country.
The firm is has been majority-owned by Santander since 2020, and offers cash and foreign exchange risk management services in over 130 currencies. It also services cross-border payments.
The company first penetrated Australia six years ago and now has three offices there. In the Asia-Pacific (APAC), Ebury already has presence in China – New Zealand’s top trading partner along with Australia.
Strengthening APAC connections is crucial for integrating more peripheral countries into the global trade finance ecosystem.
Rick Roache, Ebury’s Asia Pacific managing director who will oversee the New Zealand operations, said, “Right now, there are few options for SMEs looking for cross-border payment solutions and local advice in New Zealand, so we’re really excited to bring our innovative technology platform into the market.”
Ebury’s SME focus is expected to set it apart from competitors, especially in New Zealand, where 97% of businesses are SMEs: employing nearly a third of the workforce.
Roach said, “[There is] a clear mismatch between SME expectations on how payments should work internationally, when it comes to speed, certainty and cost, and how they actually work. As the world becomes increasingly interconnected, simplifying cross-border transactions is essential for the success of any global business.”
