Mercantile Foreign Exchange Accelerates Growth through Expanded Partnership with Kooltra

February 27, 2024
Adam Katz

Learn more about MercFX's growth through their expanded partnership with Kooltra. Experience the power of a unified platform, improved customer experience, and strengthened compliance.

TORONTO – Mercantile Foreign Exchange (MercFX), a fast-growing firm in the foreign exchange market, has announced an expansion of its relationship with Kooltra, a leader in forex and global payments infrastructure. This strategic move has enabled MercFX to launch new offices in key Canadian cities and provide an improved experience for both their team and customers.

Leveraging Kooltra’s Core Platform, MercFX has achieved significant growth and operational efficiency by consolidating its users across departments onto a single, cloud-based system. The integration of Kooltra’s technology into MercFX's operations has resulted in heightened margins, strengthened compliance measures, and a streamlined user experience that benefits both internal users and customers.

"The collaboration with Kooltra has been transformative for MercFX," said Dawson Roes, COO of MercFX. “We’re committed to providing our customers with the very best and the Kooltra Platform has quickly become central to delivering on that promise. As technology and the industry evolve, we know that Kooltra will keep us on the forefront of innovation, and we are excited to deepen our partnership with them”.

Kooltra's Core Platform has been instrumental in digitizing the entire customer journey at MercFX, from onboarding to multi-currency payments, enhancing transparency and improving the efficiency of cross-departmental operations. The platform's scalability and end-to-end capabilities empower financial institutions like MercFX to reduce operational costs and automate complex regulatory reporting, all within a compliant framework.

“Companies like Mercantile have very close relationships with their customers. They process billions of dollars a year in transactions and payments and strive to go above and beyond in their service,” said Adam Katz, CEO at Kooltra. “Our ongoing partnership with MercFX exemplifies our commitment to empowering firms to exceed their growth objectives while delivering a seamless digital experience to customers.”

For additional information on Kooltra and its offerings, please visit www.kooltra.com.

About Mercantile Foreign Exchange

Mercantile Exchange Corporation, founded in 1993, is a prominent financial services fintech company based in Toronto, Canada. It specializes in foreign exchange services and is recognized for providing innovative and cutting-edge foreign exchange products and global payment solutions.

With local offices coast to coast Mercantile is able to connect Canadian companies to global markets and offer a range of products to help them grow their business. Dedicated FX professionals develop tailored strategies in collaboration with clients which reduce risk and cost. By employing the latest technology Mercantile is able to execute on those strategies, securing their clients a competitive edge at home and around the world.

About Kooltra

Kooltra is a worldwide leader in end-to-end foreign exchange and global payments infrastructure. The Kooltra Core Platform empowers financial institutions with scalable technology that accelerates revenue growth, reduces operating costs, streamlines compliance, and automates regulatory reporting.

By bringing employees and customers together on a single cloud-based platform, the digital experience is optimized. This results in streamlined customer onboarding, dealing, settlements & multi-currency payments with a transparent view for each department into the customer and transaction lifecycle. Bringing an entirely new approach to the foreign exchange technology stack, Kooltra is a SaaS company with deep domain knowledge supported by a world class engineering team. 

Note to Editors

For more information, photos, or to arrange an interview, please contact Adam Katz, CEO of Kooltra, at adam.katz@kooltra.com.