Premier League club Wolverhampton Wanderers FC has today announced the appointment of Neo, the cross-border payments and foreign exchange (FX) fintech, as its Official Foreign Currency Exchange Partner.

As Official Foreign Currency Exchange Partner of Wolverhampton Wanderers FC, Neo will handle its FX and multi-currency transfer payments and help the club save on its currency FX transaction costs. This move represents Neo’s entry into the world of sports business and will drive brand awareness to the Premier League’s global audience through use of Wolves’ IP and imagery.

Foreign currency transactions can be particularly challenging for football clubs at the highest level. They are often required to make cross-border payments to pay for the likes of players, staff, travel and events and receive funds from broadcasters, investors, other clubs and sponsors.

Neo offers an International Bank Account Numbers (IBAN) through which businesses can send and receive payments in 20+ currencies. It also provides best-in-class FX execution, enabling firms to buy and sell any of these currencies with transparent pricing. Neo’s wallet architecture makes it easy for firms to organise their funds and store multiple currencies, ready for making rapid payments or exchanging currencies, revolutionising the way they transact. Neo has also put a strong focus on state-of-the-art client support by lining up a team of highly skilled professionals who support clients with their cross-border operations.

Barcelona-based fintech Neo has evolved from a platform offering FX trading to becoming a one-stop-shop for businesses across the globe, working with more than 300 corporates across 28 countries and has cleared more than €16 billion through to its Bank Identification Code (BIC) on the SWIFT network.

Russell Jones, Wolves General Manager for Marketing and Commercial Growth said, “Foreign exchange management is an important element of the commercial side of our football club. It’s vital that we work with trusted partners to ensure our processes are optimised and we are confident that our partnership with Neo will add value to our global operations.”

Laurent Descout, co-founder and CEO of Neo, said: “Becoming Wolves’ official FX transfer partner is a huge step forward for Neo and demonstrates our ability to work with exciting, global organisations and help optimise their multi-currency requirements. As a fintech firm operating in an extremely competitive industry, we understand the need to perform at the highest levels and recruit top talent from across the world and so this partnership aligns with our own company culture. We look forward to working closely with the Wolves team and wish them all the deserved success in the season ahead.”