Payoneer deals with disbursing payments around the world in a variety of ways, including wire transfers, local bank transfers, credit cards, echecks and more, in multiple currencies. As a consequence, its treasury team is responsible for managing a large number of banks and accounts around the world. Managing such a large number of banks and accounts is cumbersome and challenging. Payoneer’s global treasury staff needed a solution that would aggregate all the bank and transaction information and present it in an easy-to-understand, intuitive user interface that would enable them to make important decisions in real-time.
In 2015, Payoneer started looking for a multi-banking connectivity solution that could aggregate all the data from the banks and make it easy for the team to view and analyze that information in a variety of ways. The team made the conscious decision to decouple the connectivity and TMS solutions, in order to have TMS flexibility for future. After an RFP process, Fides was selected.