AFEX, a non-bank provider of global payment and risk management solutions, has appointed former HSBC executive Ramnath Ramhit as its new Head of Integrated Solutions for Europe, the Middle East and Africa.
Ramhit brings to the company over 25 years of experience in the corporate foreign exchange industry. He will be tasked with integrating AFEX’s comprehensive FX and payments infrastructure with clients’ accounting and enterprise resource planning (ERP) systems using its application protocol interface (API) technology.
Ramhit was previously at HSBC, where he was Director, UK Corporate & Commercial Sales from April 2011 to September 2016, with responsibility for the FX and interest rate needs of its corporate clients.
Prior to that he wasa member of the team which founded Thomas Cook Financial Services’ corporate FX division in the 1990s which launched the world’s first online FX payment platform. After the company’s acquisition by Travelex in 2000, he joined the EMEA leadership team, responsible for dealing sales and customer relationship management.
The new role was created in response to increased demand from corporate clients with high payment volumes seeking to streamline their payments processes.
Commenting on the new appointment, Stuart Holmes, General Manager for EMEA at AFEX, said: “In the last 12 months we’ve seen a significant increase in European corporates using our API to connect their accounting systems with our international payments systems. We expect demand to continue to grow as firms look to reduce the time, cost and frustration associated with managing global payments and we are delighted to welcome someone of Ramnath’s experience and expertise to lead this programme.”