CaixaBank Offers Cross-Border Payment Wallets Through FXWallets

CaixaBank has unveiled FXWallets. FXWallets is a service that allows a trader to create virtual accounts in an easy and seamless manner. This service supports account opening in a fast and intuitive manner. A user does not have to part with any opening or maintenance costs.

CaixaBank offers cross-border payment wallets

The initiative will see CaixaBank becoming the first Spanish bank to provide virtual account services for currencies. This service will be launched in June in the pilot phase for a select number of companies. From September, the service will be available to the public.

This service can be accessed through the website and app of CaixaBank. This app will also support an FXNow currency market platform. The FXWallets service launched as part of the deal will come with benefits for international payments and security for traditional accounts. Users can also create a wallet in their desired currency in an easy manner.

The director of CIB and International Banking at CaixaBank, Inaki Badiola, commented on the development saying, “The launch of FXWallets is a very significant step in the bank’s steadfast commitment to innovation, internationalization, and engagement with our customers and their needs.”

Badiola has also said that the project’s development involved an in-depth analysis of how the platform could apply new measures to boost usability and customer experience in the currency payments industry. The change would see the focus on payments being on the customer always.

Embracing innovation through FXWallets

FXWallets will be one of the features supported by CaixaBank FXNow. FXWallets is a platform that manages the purchases and sales of currencies. The platform has also been servicing the customers at CaixaBank since the platform was created in 2020. The FXNow platform was also released in Morocco last year and then in Portugal in 2023.

The model used by FXNow offers a balance between professionalism and user-friendliness. The platform has also addressed the needs of many companies, including small and large ones. The annual growth at the company has now surpassed 150% of the currency operations done by CaixaBank through a digital service channel across Spain.

CaixaBank supports innovation and technology. The platform boasts over 11 million users across the digital banking industry. This industry has the largest customer base across the Spanish financial industry.

The bank has been working towards creating new models that will meet the needs and requirements of the customers. It also seeks to bring products, services, and financial models closer to everyone.

The bank is focusing its efforts on digitization. It operates through its own technology subsidiary known as CaixaBank Tech and other teams that focus on using innovation to transform the organization. The financial institution is also promoting projects depending on new technologies such as artificial intelligence, app development, cloud computing, and big data, among others.

The technologies that are supported by the platform give the advisers access to better resources to provide customer advice. The platform also seeks to promote tailor-made commercial offers to boost customer experience.