San Francisco-based financial services platform Modern Treasury is introducing a product called “Global ACH” which it bills as “a new payment service” that enables lower-cost cross-border transfers than options like SWIFT by utilizing local payment rails.
To launch Global ACH, Modern Treasury is partnering with Silicon Valley Bank.
According to a Thursday (March 2) press release, Global ACH offers “customers more choices for cross-border payments beyond the SWIFT network. With Global ACH, customers can automate international payments using the ACH- and RTP-equivalent payment rails in other countries. This helps companies expand international capabilities with less upfront investment while driving efficiency into their global operations.”