iBanFirst announces closing of acquisition of Cornhill, the UK-based FX provider

Global financial services provider, iBanFirst, announces today the closing of its acquisition of Cornhill, a UK-based FX provider. The announcement follows the authorisation of the acquisition by the Financial Conduct Authority (FCA).

The acquisition will help iBanFirst accelerate its international development in the UK. In the coming months, Cornhill’s clients and future clients will benefit from the iBanFirst platform to make cross-border payments, along with a wider range of products and services to hedge against currency volatility.

 Cornhill Executive Director, Vivek Savani said:

“We are thrilled to officially become part of iBanFirst. The FCA’s approval of the closing will enable our clients and partners to benefit from a single intuitive platform to help them run their cross-border operations and track their payments. This union brings together two essential pillars: digital performance and human touch. Cornhill will keep on providing a bespoke personal service to help clients manage their FX risk while also offering them better pricing and a better overall service.”

 Pierre-Antoine Dusoulier, CEO of iBanFirst, added: 

“The closing represents a huge step for the group. Thanks to the acquisition of Cornhill, iBanFirst will deploy all its technological assets in the UK to better serve SMEs and simplify GBP transfers. Day by day, we are achieving our ambition of becoming a global leader in multicurrency payments for SMBs. iBanFirst is building one of the most effective payment networks in the world, allowing companies to do business without borders.”