Dime Community Bancshares, Inc., a New York State-chartered trust company with over $13.5 billion in assets and the number one deposit market share among community banks on Greater Long Island, has announced key technology enhancements for its business customers. The bank is expanding its Commercial Online Banking platform to allow clients to initiate international wires in both USD and foreign currency. This upgrade will also provide real-time requests for foreign currency rates and make Dime an active member of the SWIFT Network.
These enhancements are part of the bank’s growth plan to provide business customers with the necessary tools to effectively run their businesses. Avinash Reddy, Senior Executive Vice President and Chief Financial Officer, stated that these upgrades will help Dime stay competitive in the market by providing clients with access to more advanced banking services.
Dime’s Commercial Online Banking platform is designed to provide businesses with a secure and convenient way to manage their finances online. With these new enhancements, clients can now initiate international wires in both USD and foreign currency at any time, allowing them to take advantage of exchange rate fluctuations or conduct business transactions across borders with ease. Additionally, real-time requests for foreign currency rates will enable businesses to quickly determine the best time to buy or sell currency.
As an active member of the SWIFT Network, Dime will have access to a global network of banks that allows for seamless communication and transfer of funds across borders. This will further enhance Dime’s ability to provide its clients with reliable and efficient banking services.
These enhancements are expected to be available towards the end of the second quarter of 2024. For investor relations, Avinash Reddy can be contacted at 718-782-6200; Ext. 5909 or via email at avinash.reddy@dime.com.
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