iscoverGlobal financial operations company OFX sees its role as completing the financial operations triangle, giving accountants and the SME businesses they advise the tools to gain full control of payments, spend and cash flow across borders.
OFX redesigns its global payments platform, allowing accountants ‘to focus on what matters most’
15 September 2025
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8 minute read
Sydney-headquartered financial operations company OFX, which operates globally, has redesigned its global payments platform slot directly between accounting systems and banks, thus providing a complete payments solution that it says “delivers control, compliance and clarity that was once the preserve of large corporates”.
Accountants know, OFX said in a statement, that lack of cash flow visibility and internal controls are where businesses often stumble, and the provider is aiming to combat this by ensuring those in the business can focus on growth, while the platform takes care of embedded controls without adding friction to the process.
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The platform uses AI to automate invoice capture, bank detail capture, accounting code selection, and tax treatment selection.
Speaking about the changes, OFX global head of product Francois Henrion said: “We are continuously increasing our use of AI to automate low value tasks for our clients so it can free them up to focus on what matters most.”
Moreover, OFX went on, every payment and expense can be subject to a simple or complex approval workflow that's tailored to the business needs.
“OFX isn’t just another way to move money. We’ve built a platform that gives accountants and their clients the oversight and control they need to run their finances properly without adding headcount or manual work,” said Henrion.
The expanded platform will also allow businesses to issue virtual or physical cards, manage team expenses, and set spend budgets that integrate directly into accounting systems.
“It’s a level of integration you don’t get from banks,” said Henrion.
“Every bill, expense, payment, deposit and FX transaction is synced and reconciled in real time with your accounting system. Accountants can spend less time doing grunt work and more time advising their clients.”
OFX global head of non-FX revenue, Jaco Veldsman, noted that the company sees its role as completing the financial operations triangle.
“We act as the glue between a client’s accounting system and their bank, but we don’t just connect the two, we extend what’s possible. Banks move money and accounting systems record it. We build the smart layer in between: powerful spend controls, smarter payment workflows, and global supplier management. All from one platform. That means accountants get accurate, live data, while businesses gain capabilities the bank alone simply can’t deliver,” he said.
And the company’s chief executive, Skander Malcolm, added: “Our mission is to empower small and medium businesses with an end-to-end payment solution that helps them thrive in a fast-changing global environment. For accountants, that means less time spent on low-value reconciliation, and more time helping clients grow with confidence.”
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