Intellect launches CBX-FX – a contextual FX platform, combining trading and hedging needs for the bank’s corporate customers
Bringing together the power of personalized FX Trading experience for bank’s corporate customers, with powerful analytics to make timely and correct hedging decisions
Intellect Design Arena Limited, a specialist in applying true Digital Technologies across Banking, Capital Markets and Insurance, announces the launch of CBX-FX, which provides a contextual FX trading experience to the bank’s corporate customers enriched with a powerful tool to manage hedging strategies.
CBX-FX provides two distinct components- FX Trading and FX Corporate. These components can be offered by a bank, jointly or separately, to its large corporate and SME customers. It allows the end customer to be self-reliant and meet its FX requirements efficiently.
CBX-FX Trading is an FX trading platform with streaming rates from multiple liquidity providers which enables straight through processing from the bank’s customer’s device to its treasury back office. Complete trading requirements are met through a “Single Screen, Single Click’’ (SCSS) powered by an HTML5 based technology architecture. The comprehensive trading needs for the bank’s customers are met on a single screen allowing them to view, transact and organize their workspace with a single click.
A personalized workspace which shows customer configurable market watch across 40 currency pairs at one time, one touch order placement and multiple order types, online rate negotiation with configurable timer, blotters and alerts across the entire deal lifecycle and instantaneous generation of confirmation messages and receipts. SCSS technology also drives a powerful entitlements matrix allowing the bank to control the trading behaviour of its customers.
CBX-FX Corporate is meant for clients with hedging needs. The platform helps to create a personalized data repository of FX hedging strategies, by bringing together both FX exposures and hedged deals. A well-structured decision work-flow addresses:
- ‘What to hedge’ – part of exposure required to be hedge,
- ‘When to hedge’ – trigger points to hedge, and
- ‘How to hedge’ – hedging strategy for the entire exposure portfolio
This provides the bank’s customer the information in real-time to build his hedging strategy and execute it.
The benefits accruing to the bank’s corporate clients are:
- Personalized and agile trading platform
- Single Click Single Screen user experience
- Transparency in pricing
- Real time updates across the entire trading lifecycle
- Ability to place a deal at the correct time and correct rate without any dependency
- Having a data driven mitigation plan for FX exposure risks
- Cost benefits from timely hedging decisions
The benefits accruing to the bank are as follows:
- Generate better fee based income from increased volumes
- Grow the client base quickly and improve client retention
- Provide a complete self-help FX office combining trading and hedging
- Establish seamless connectivity to multiple liquidity providers and internal systems through low coding interface framework
- Facilitate straight through processing from client’s device to treasury back office
- Curate and control client behaviour and yet provide the trading independence
- Become the client’s principal bank by providing value added tools
TV Sinha, CEO, Intellect Treasury & Capital Markets, Intellect Design Arena Limited said: “Post pandemic era, self-service banking will assume larger importance, along with the continued need for banks to look at avenues for increasing their fee based income. CBX-FX is a self-service FX offering for the bank’s corporate clients, combining transparent and contextual FX trading experience with extensive analytics for decision-making. While it ensures better pricing and complete transparency to the entire FX trading life-cycle to the corporate, it empowers the bank to increase their share of wallet by extending their FX offering, as a powerful customer self-service platform. The platform is already being used successfully by two leading banks in India.”
About Intellect Design Arena Limited:
Intellect Design Arena Ltd., a global leader when it comes to applying true digital technology, is the world’s first financial tech company that covers the entire spectrum of banking and insurance needs with its wide suite of products. It does so via its four lines of business, namely, Global Consumer Banking, iGTB (Global Transaction Banking), Risk, Treasury and Markets and Insurance Software. With over 25 years of deep domain expertise, today Intellect is a brand name that progressive financial institutions look to for their digital needs, and for digital transformation initiatives.
Intellect pioneered design thinking for cutting-edge banking and insurance products and solutions, with that being the company’s salient differentiator when enabling digital transformation. FinTech 8012, the world’s first design centre for financial technology, reflects Intellect’s commitment to continuous and impactful innovation, such that the growing need for digital transformation may be aptly addressed and answered. Intellect generates annual revenues of more than USD 208 million, by serving more than 240 customers through offices in 91+ countries, with a diverse workforce of more than 4,000 solution architects, domain specialists, and technology experts in key financial hubs around the world. For further information about the company and the various solutions it offers, please visit intellectdesign.com