FX conversion and five key principles to maximising client satisfaction

Banks need to identify how best to deliver converted payments to their clients, say Standard Chartered's Anurag Bajaj and Terence Rodriguez.

Over the past few years, a number of international banks have started offering products that enable their clients make cross-currency payments from a single currency nostro. The core theme of these products is to execute foreign exchange FX in the payment and deliver local currency to the destination -- enabling a value transfer from the beneficiary bank which would have executed the FX to the remitting bank which actually does.

While lifting fees are...

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