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One Solution For The Entire Gamut Of Forex Branch Operations

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In the MENA region, treasury and Foreign Exchange (FX) transaction volumes have been growing over the years. Today, this region boasts a well-developed financial market that supports diverse forex activities – supervised and regulated by the Saudi Arabian Monetary Authority (SAMA). The evolving market, amidst dynamic customer expectations, needs next-gen technologies to operate and enable seamless and scalable FX operations.

Leveraging FX Connect, we are connecting the dots between core banking, treasury, and foreign exchange operations for banks to :

  • Negotiate FX rates in real time
  • Standardize banking operations leveraging automation
  • Bring efficiency through channel innovation in transactional services

The Promise

Vast integration expertise and ready-to-deploy capabilities on various core banking, rate feed, and treasury systems.

Unified platform for retail and corporate FX business, eliminating the need, time, and cost required to manage multiple vendors and systems.

Highly scalable platform designed to support peak transaction volumes and ensure uninterrupted business continuity.

Scope Of FX Connect

An integrated and real-time solution, FX Connect helps streamline banks’ FX and treasury functions with end-to-end process lifecycle management. Built on open architecture and being web-based, the solution’s multi-currency nature means all FX branch operations can be managed within one solution – with greater control and flexibility.

The solution converges various modules for bundled offerings to cover end-to-end FX requirements or leverages individual modules to address specific banking needs in the Kingdom.

  • Outward Transactions (FCY cheque collection and purchase, Traveler’s cheque, Currency notes, FCY demand drafts, FCY card)
  • Order booking and utilization
  • Forward utilization
  • Inward transaction – Complete flow from Swift MT950 decoding to customer credit

Functional Features

Benefits With FX Connect

Seamless Banking Operations

  • Easy rollout of new product designs and operational workflows through a unique platform
  • Ondemand scalability to process large transaction volumes in branches
  • Improved regulatory compliance
  • Enhanced transaction efficiency and cost control

Enhanced Customer Experience

  • Superior banking experience enabled by faster turnaround and real-time response
  • Direct access to the dealing room along with competitive pricing
  • Informed decision-making enabled by alerts and related advice through emails
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