Waza, a B2B payment provider for emerging market businesses, has announced the launch of a new multi-currency account platform, Lync, that combines market-leading foreign exchange (FX) liquidity solutions with cutting-edge banking experience to power a new era of global trade for emerging market businesses based in the United States, United Kingdom, or Europe.
Many businesses serving emerging markets, particularly those with an emerging market founder or shareholder, face challenges accessing financial services like bank accounts and credit facilities due to arbitrary compliance thresholds and perceived risk appetite.
Recent incidents have seen financial services providers unexpectedly discontinue services, leading to financial losses and disrupted trade flows. This situation hinders businesses from planning and scaling their operations, preventing them from reaching their full potential and seizing available opportunities.
Lync is a platform designed to facilitate global commerce for emerging market businesses, suitable for businesses with existing global operations, large enterprises, technology companies, and those expanding internationally. Lync offers multi-currency accounts with payments to over 100 countries, accepting various payment methods like ACH, Fedwire, SWIFT, and local payment rails like Faster Payments in the UK.
It provides a credible alternative to existing choices for organizations serving new regions, allowing them to manage their payments and foreign exchange liquidity on a single platform.
Lync’s FDIC-insured accounts provide businesses with the confidence to explore new markets and opportunities. With competitive FX rates, it’s an ideal solution for global expansion and efficient financial management.
Speaking about the new platform, Maxwell Obi, CEO and co-founder of Waza, said, “We created Lync to serve as a pivotal platform that will not only support business payments and liquidity but also drive broader economic growth and prosperity in emerging markets.
By unlocking access to essential financial services, we are confident that Lync will empower more businesses to expand, reach new markets, and overcome longstanding financial barriers. We are incredibly excited about the potential of Lync to transform how businesses operate, making it easier for them to scale, optimize cash flow, and drive sustainable growth.”
