Deltec Bank & Trust Limited (“Deltec Bank”), a leading private and corporate bank with a history of innovation and stability spanning over 75 years, today announced that it has joined Visa B2B Connect, a multilateral payment solution that enables faster and frictionless cross-border payments for its corporate clients, built upon Visa’s extensive global network.
Deltec Bank has a strong history serving global, rapidly-scaling entrepreneurs and their enterprises – where speed, reliability, predictability, and security are paramount. Through its implementation of Visa B2B Connect, Deltec Bank’s corporate and institutional clients will achieve faster, more secure, and more efficient cross-border payments with near real-time visibility into payment statuses and the necessary reconciliation and compliance data.
“We are thrilled to join Visa B2B Connect network to deliver this innovative and future-ready cross border payment network offering to our clients,” said Odetta Morton, CEO of Deltec Bank. “As entrepreneurs and enterprises strive to expand their global footprints, they truly value partners that offer simple and highly secure cross border transactions, along with solutions that help to improve their operational efficiencies. We are proud to partner with Visa in removing hurdles that have previously existed in the payment journey, while providing a seamless and secure payments process for today’s global enterprises.”
Frank Gandarillas, General Manager for the Caribbean at Visa, said “Visa B2B Connect is our multilateral network that enables predictable, secure, and effective cross-border B2B transactions for financial institutions and their corporate clients. We aim to continue expanding the ecosystem with innovative solutions that create opportunities for partnering as we have done with Deltec to invigorate the way of moving cross-border funds.”
Presently, Visa B2B Connect is available in 118 countries in 6 continents, and Bahamas is one of these countries that are ready to send and receive funds through a state-of-the art technological platform that provides enhanced efficiencies, promotes greater transparency, and reduces the complexity and slowness of the intermediation under which operates the traditional correspondent banking networks, said Edward Dominguez, Head of Money Movement Specialized Sales for Banks and Remitters – LAC Region.
Visa B2B Connect aims to address these challenges by modernizing existing global payment processes through its digital-first capabilities. The unique network dramatically simplifies international corporate cross-border payments by facilitating transactions between the bank of origin, directly to the beneficiary bank. By increasing the visibility and predictability of the transaction flow, Visa B2B Connect simplifies global payments and creates more cost-effective cross-border transactions by improving fee transparency, transaction accuracy, and helping companies manage their cash flows and streamline settlement.
About Deltec Bank
Founded in 1946, Deltec Bank & Trust Limited (Deltec Bank) is a leading private and corporate bank, specializing in forward-thinking financial and wealth planning solutions for high-net-worth individuals and their enterprises.
In addition to having the highest financial expertise, Deltec Bank is dedicated to accelerating the growth of global innovation, leveraging an expanded ecosystem of regulated financial services covering multi-currency and digital banking, investment management supported by institutional-grade trading and payments.
About Visa
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions, and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable, and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement.
