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 worth about $10 to $15 per transaction, executing the FX in a payment can raise the yield to about $75 to $100. The economics of such an “FX conversion” type product are attractive, but the...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222