Nium has introduced a new feature called Global Collection for banks, aimed at enabling banks to offer local currency receivables to their customers across multiple countries.

Global Collection is a white-label service provided by Nium that lets banks introduce multi-currency collection accounts directly to their clients. Using Nium’s virtual account infrastructure and APIs, banks can create customer-named, local currency collection accounts in key markets, allowing their clients to collect funds locally before transferring the money globally without relying on third-party fintech services. Initially, Nium will support EUR, SGD, USD, and GBP for local collections in these countries, with additional currencies planned.

Revenue Opportunities

The launch of Global Collection presents banks with new revenue opportunities by integrating collections, foreign exchange conversion, and payouts into a single platform. Banks can customize the feature to suit their branding while maintaining control over customer relationships and recapturing FX margins lost to fintech providers on inbound cross-border transactions. Customers will benefit from a seamless experience without additional setup procedures.

Banks using Nium’s Global Collections gain access to:

• Local currency virtual accounts in the customer’s name – for collecting payments across Europe, UK, US, and Singapore;
• Integrated foreign exchange and payouts – getting settled in the bank’s preferred currency while capturing FX spreads;
• An API-first approach – APIs to issue accounts, reconcile transactions, and transfer funds instantly;
• Enhanced integration capabilities – integrating Global Collections into various customer service channels like digital banking and branch services.

Enhancing Fintech-Banking Integration

Global Collections are part of Nium’s broader suite of bank solutions, which includes global payouts, real-time foreign exchange, and compliance infrastructure. Together, these tools offer banks the same level of functionality as fintechs while providing greater security, transparency, and reach through Nium’s global network.

In August 2025, Nium partnered with iPiD to enhance its Verify account validation service in Europe. This collaboration allowed iPiD to utilize Nium’s Verify technology to boost their own validation capabilities, marking a significant partnership between two leading Singaporean fintech companies.