Bridging The Gap Between FX Treasury And Core Banking
Drive Extreme Customer Stickiness
- Today treasury and foreign exchange business of banks are under mounting pressure to adapt quickly to meet evolving customer expectations. Banks need to accelerate turnaround time, enhance transparency and enable scalability required to handle the growing volumes of FX business.
- By bridging the gap between the core banking and treasury, banks can standardise and automate processes to improve customer interface and thereby identifying new and profitable customer segments. This enables transactional services to be conducted through more efficient channels while freeing up resources, leading to greater market share and customer stickiness.
- To address these issues banks should look for a comprehensive real-time solution that enables banks and their customers to view and negotiate FX rates in real-time across products.
Real Time FX Branch Transaction Platform
- Currency Notes
– Supports buy and sell of the Currency Notes
- Demand Drafts
– Supports Buy, Sell & Reissue of the Demand drafts
- Telegraphic Transfer
– Supports transfer of Funds
- Travellers Cheques
– Supports Buy & Sell of Travellers Cheques
- FCY card Buy and FCY card Sell
– Selling of FX Currency Card
- FCY Cheque collection/Purchase
– Supports Payment for collection/Purchase
- Inward Remittance
– Applicable only for corporate client with Real time notification and position update
- Cross Border Fund Transfer
- Offer Sell, Buy, Collection, Purchase of various FX instruments
- Customized Product Maintenance & Flexible workflows
- AML OFAC and KYC Checks
- Cryptic Order Booking & Order Utilization
- End to End Stock Management for Travelers Cheque, Currency Notes, Demand Draft
- Risk Mitigation by customer Limit, Dealer Stop loss warning and FX Rate tolerance Limit
- Real-time Rate Negotiation platform
- Advice Printing & Charges
- Beneficiary Real-time Alerts & Notification
- Auto /Manual Upload of the MT messages
- AML, OFAC & KYC Check
- Disposal of transaction & FIRC Printing
- Customer wise Standing Instruction – FIRC, Fund Allocation & Beneficiary Charges
- Nostro Inward – Rule Based Message decoding Mechanism
- Real- time GL posting
- Reduce over head for manual key in of inward transaction
- Manage Forex Portfolio online
- Enable customer to request various forex products.
- Dashboard with 360 degree of portfolio and A/c balances.
- Alerts and notification’s for banks and corporates
- Payment Anywhere through cross border funds transfer.
- Inward payment now on corporate desktop
- Buying Forex card and TC on a click.
Transforming Forex Operations of 2500+ Branched Driving High Volume For Business Growth.
As part of expansion agenda HDFC Bank one of the largest private sector bank in India wanted to enable FX Branch business for the corporate & retail customers with various inward and outward product flavours by bridging the gap between FX Treasury and Core Banking System.
Elevated processing to 15,000+ transactions covering 2500+ branches
Eliminated multiple internal systems which reduced time and cost
Increased efficiency by enabling the bank to serve corporate customer directly
Improved customer satisfaction through competitive FX rates offered by FXConnect negotiation platform
Significant reduction in operational overhead and improved efficiency
Real time position monitoring help bank improve FX Margin
Rule base message mechanism improved TAT
Attracted more customers direct access to FX dealing rooms with FX rate negotiation platform