Derivative Path, Inc., a leading provider of capital markets technology and derivatives execution services, has announced a strategic partnership with Wells Fargo to enhance global payments capabilities for regional and community banks.
By integrating Wells Fargo’s FX Payment APIs with Derivative Path’s purpose-built platform, the collaboration aims to streamline cross-border transactions, offering real-time FX rates across 120+ currency pairs and optimizing settlement processes. This initiative addresses traditional market barriers, providing smaller financial institutions with the same competitive, secure, and transparent FX payment services as larger banks.
The integrated solution is already live with multiple banks, including Busey Bank and FirstBank (Nashville, TN), with several more institutions in the pipeline.
Pradeep Bhatia, CEO & Co-Founder, Derivative Path, emphasized the significance of this development:
“This collaboration with Wells Fargo represents a major step forward in making global payments accessible and efficient for regional and community banks. Our technology is designed to integrate seamlessly into their digital platforms, enhancing the customer experience while expanding their international capabilities.”
Dan Vogt, Managing Director, Head of FX Payment Solutions Sales & Product Strategy at Wells Fargo, highlighted the bank’s commitment to empowering financial institutions:
“Wells Fargo is dedicated to enhancing the capabilities of regional and community banks through strategic technology partnerships. By working with Derivative Path, our bank clients can now offer FX payment solutions directly within their digital channels, ensuring a seamless transaction experience for their customers.”
The impact of the solution is already evident, with early adopters reporting significant operational improvements.
Neil Denault, Capital Markets Manager, Busey Bank, noted:
“Since implementing the Derivative Path-Wells Fargo FX payments solution, we have processed over 500 FX wires with just one inquiry. This has greatly enhanced our operational efficiency and customer satisfaction, strengthening our competitive position in the market.”
Ron Zimmerman, SVP, Deposit Operations, FirstBank, echoed the sentiment:
“Derivative Path has been a trusted partner for years, and their ability to extend solutions to international payments at a crucial time has been invaluable. Not only has it improved the experience for our customers, but our wire room has also seen remarkable efficiency gains.”
This initiative aligns with Derivative Path’s broader strategy to equip banks of all sizes with cutting-edge financial tools to navigate an increasingly globalized economy. As the company expands its partnerships with top liquidity providers, its focus remains on enhancing service offerings, reinforcing the operational efficiency and market competitiveness of regional and community banks.
