- Money Mover and AIMA partnership will be useful for the latter’s 1,900 corporate members
- The UK fintech firm acknowledges the need for faster and cheaper international money transfer solutions
- Partnership “makes perfect sense for AIMA”, says AIMA CEO
The Alternative Investment Management Association (AIMA) and international money transfers brand Money Mover just signed a partnership deal that will help AIMA’s 1,900 corporate members save money on overseas payments.
The announcement is a welcome development to AIMA’s clientele because they can now send money abroad without the burden of hefty bank fees.
According to the Cambridge Network, banks in the United Kingdom “charge small and medium-sized enterprises nearly £4bn in hidden fees each year” – a significant amount of capital that enterprises could utilise and reinvest in other critical business-related endeavours.
Money Mover’s focus on delivering affordable international business payments fits right into AIMA’s mission to offer sound practice guidelines to its members. The UK fintech firm is committed to providing better exchange rates and lower payment costs for small businesses, according to its representatives. It will deliver this kind of service to AIMA through a business-focused platform that is easy to use and equipped with security features that AIMA corporate members require.
In an interview, Money Mover CEO Hamish Anderson said: “A large proportion of AIMA members make international payments on a regular basis, paying international suppliers and consultants, making overseas payrolls and converting management fees. Both organisations saw the immediate benefit Money Mover’s intuitive online service could bring to their members who often find international payments opaque, time-consuming and expensive.”
According to AIMA’s CEO Jack Inglis, the partnership makes “perfect sense”.
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