AFEX offers companies the ability to outsource foreign exchange services with an efficient, secure, and convenient channel to participate. In the past, only the largest banks had the resources and ability to maintain foreign exchange trading capabilities. Risk exposure, labor intensity, and cost proved to be prohibitive, and forced many organizations to outsource their international payment requirements to larger banks that were in fact competing in the same market.
Outsourcing your foreign exchange department to AFEX grants your clients access to a diversified product line that can give you a truly competitive edge against other financial institutions. AFEX provides one of the widest varieties of foreign exchange products in the industry, without burdening your organization with excessive operating costs. AFEX’s aggregated purchasing power lets you level the playing field with even the largest competitor banks in your market.
As part of our effort to add value to your organization, we can provide consultation to you on ways to build your foreign exchange business. We offer training support, both operationally in terms of the online trading platform and also in the context of cross-selling foreign exchange services to your customers. AFEX can also offer creative marketing support.
If you already have a foreign payment solution in place, we offer a complimentary evaluation of your existing process and recommend opportunities for improvement. Let our Outsourcing Group be a resource to ensure that you are getting the most out of your foreign exchange products.
As a financial institution, AFEX is subject to both local and national regulators. AFEX is a fiscally secure company that exceeds the licensing requirements of the industry and has enjoyed the confidence of corporations and individuals alike for over 30 years. Moreover, AFEX employs a strict and proactive approach towards Anti-Money Laundering regulations that compliments and secures your existing compliance program, including automated cross-references to the OFAC list. Our Chief Compliance Officer is available for direct communication with the bank compliance department for mutual review and procedural assurances.
From a technical perspective, AFEX system transactions are secured at multiple levels. VeriSign® Secure Site 128-bit SSL Certificates enable you to verify our site’s authenticity and to communicate with it securely, assuring your information is safe from interception. Our state-of-the-art firewalls protect you from data intrusion, and flexible hierarchies provide the ability of defining multiple levels of user access permissions. In addition, an array of system reports are available to authorized users, which make it possible to closely monitor user activity.
International wires (EFTs) in foreign currencies or US dollars.
Foreign currency bank drafts.
Incoming wires (EFTs) – AFEX can receive foreign funds on your clients’ behalf.
Foreign Check Conversion – AFEX can cash bank drafts in a foreign currency. Immediate delivery of US funds is available.
Foreign Bank Notes – offer your clients foreign cash for their travel needs, as well as a convenient way of converting foreign bank notes back into US currency.
Forward Contracts – enable your business customers to negate market volatility for up to 12 months in the future.
Standing Orders – empower customers to take advantage of market volatility by selecting a target rate. If the market achieves that rate, the transaction is locked in automatically.
AFEX offers training in three key areas:
Operational training to bank staff that will be using the Outsourcing trading platform.
Cross-selling foreign exchange products and services How the foreign exchange market functions and how market news may affect your customers. Designed for client contact staff who do not have an FX background.
AFEX brings the most comprehensive package of products and services to your customers, at the least cost and most convenience to you. From the trading platform to support from our help desk and the relationship with your Account Management Team, which will help you review and improve your foreign exchange process – AFEX is your partner in offering a complete suite of foreign exchange services designed to create a win-win scenario for both you and your clients.
Outsourcing your foreign exchange department to AFEX grants your clients access to a diversified product line that can give you a truly competitive edge against other financial institutions. AFEX provides one of the widest varieties of foreign exchange products in the industry, without burdening your organization with excessive operating costs. AFEX’s aggregated purchasing power lets you level the playing field with even the largest competitor banks in your market.
Why choose AFEX outsourcing solutions?
Diversifying your product line broadens your revenue stream and ultimately increases your bottom line. AFEX has a vested interest in helping you develop or expand your international payment and foreign currency delivery capabilities.As part of our effort to add value to your organization, we can provide consultation to you on ways to build your foreign exchange business. We offer training support, both operationally in terms of the online trading platform and also in the context of cross-selling foreign exchange services to your customers. AFEX can also offer creative marketing support.
If you already have a foreign payment solution in place, we offer a complimentary evaluation of your existing process and recommend opportunities for improvement. Let our Outsourcing Group be a resource to ensure that you are getting the most out of your foreign exchange products.
Security and Confidence
As a financial institution, AFEX is subject to both local and national regulators. AFEX is a fiscally secure company that exceeds the licensing requirements of the industry and has enjoyed the confidence of corporations and individuals alike for over 30 years. Moreover, AFEX employs a strict and proactive approach towards Anti-Money Laundering regulations that compliments and secures your existing compliance program, including automated cross-references to the OFAC list. Our Chief Compliance Officer is available for direct communication with the bank compliance department for mutual review and procedural assurances.From a technical perspective, AFEX system transactions are secured at multiple levels. VeriSign® Secure Site 128-bit SSL Certificates enable you to verify our site’s authenticity and to communicate with it securely, assuring your information is safe from interception. Our state-of-the-art firewalls protect you from data intrusion, and flexible hierarchies provide the ability of defining multiple levels of user access permissions. In addition, an array of system reports are available to authorized users, which make it possible to closely monitor user activity.
Products and services
International wires (EFTs) in foreign currencies or US dollars.Foreign currency bank drafts.
Incoming wires (EFTs) – AFEX can receive foreign funds on your clients’ behalf.
Foreign Check Conversion – AFEX can cash bank drafts in a foreign currency. Immediate delivery of US funds is available.
Foreign Bank Notes – offer your clients foreign cash for their travel needs, as well as a convenient way of converting foreign bank notes back into US currency.
Risk management tools
Forward Contracts – enable your business customers to negate market volatility for up to 12 months in the future.Standing Orders – empower customers to take advantage of market volatility by selecting a target rate. If the market achieves that rate, the transaction is locked in automatically.
Education and training
AFEX offers training in three key areas:Operational training to bank staff that will be using the Outsourcing trading platform.
Cross-selling foreign exchange products and services How the foreign exchange market functions and how market news may affect your customers. Designed for client contact staff who do not have an FX background.