OFX Group (ASX:OFX) today announced an exclusive strategic partnership with Link Market Services, where OFX will become Link’s preferred partner in Australia for international payments such as dividends and corporate action payments on Link’s Investor Centre platform.
This will make it easier and cheaper for offshore investors who hold investments in listed Australian companies that use Link as their register, to transfer their funds internationally.
The service will initially be offered to investors who currently use Link to receive dividends in a crossborder transactions.
The Partnership will be for an initial term of 5 years and is expected to launch in March 2020.
It will be supported by a capital expenditure investment of approximately $2 million in FY20, funded by cash.
Shares in Link Group (ASX:LNK) are trading 1.5 per cent higher at $5.56.