A new online payment platform from City National Bank of New Jersey aims to disrupt the foreign currency payment space. Using the platform, businesses will be able to easily pay foreign counterparties in virtually any currency with transparent and low-cost fees. The platform will also be made available as a white-label solution for other community banks. The service is being developed under a partnership with international financial services company Clearshift Group and specialized small business investment company East Coast Capital Holdings. "This venture is an example of how the combination of Fintech companies and banks could ease payment processes, reduce fraud, save users money, promote financial planning, and ultimately move the giant financial industry forward," said Preston D. Pinkett III, Chairman and CEO of City National Bank.