The Envoy global banking network contains a large number of local banks in different territories, with the ability to collect funds and execute payments at low cost and in an electronic format. For individuals this offers the ability to transfer funds to other countries using low-cost/fast local (not international) bank transfers. For Merchants it avoids the need to set-up their own banking infrastructure and means they have one electronic view of the entire network. This allows them to streamline cash management functions and outsource foreign exchange, and it saves them the cost of maintaining multiple systems. Envoy concentrates on managing banks and developing the latest bank offerings. It also means Merchants can be satisfied that experienced banking staff are managing their funds at all times.
One link to Envoy gives Merchants a complete view and full access to every bank that Envoy has an account with. This view can be shown in any currency, including multiple currencies. In effect, Envoy provides its Merchants with full access and control to over 65 bank accounts around the world, with more accounts being added each month. The Merchant is able to utilise these accounts as though they were their own local bank accounts in each country.
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