Direct FX Foreign Exchange Software™

Direct FX™ Software Solutions

PRODUCT FOCUS

Direct FX Foreign Exchange Software™ enables regional & community banks to provide a range of currency products to their business & individual customers.

Direct FX™ provides a complete foreign currency software solution for these institutions, branded in their name.

The service delivered is an adjunct to the bank’s online banking service, at branch locations for walk-in customers or through the operations group as a client service.
 

   PRODUCT CAPABILITIES

  • Generates a new source of significant fee-based revenue

  • Maintains bank’s on-line system branding

  • Eliminates foreign exchange risk

  • Expands customer relationships

  • Provide access to currency products to customers who use on-line banking (Product Superiority)

  • Provide “high net worth” service for those customers who prefer personal attention (Product Superiority)

   ACCESSIBLE CURRENCY PRODUCTS

  • Purchase Bank Notes (Currency)

  • Currency Buy Back

  • Purchase International Travelers Checks

  • Travelers Check Buy Back

  • Purchase Foreign Currency Drafts (Checks)

  • Cash Checks Denominated in a Foreign Currency

  • Issue International Wire Transfers

       EXPANDS CUSTOMER RELATIONSHIPS

1. Retains & grows current DDA relationships with value-added service
2. Attracts new transaction based customers 

 

  FX CUSTOMER MARKET

   Two main FX currency markets:

  • Customers who need to make international payments for business purposes accounts for 80% of market, and
  • Customers who travel for business or pleasure accounts for 20% of the market

 

      PAYMENTS MARKET

Key metrics are as follows:

1. SME’s account for 96.5% of all US importers/exporters, over 200,000 firms
2. SME’s account for over 31% of the total value of US goods, over $300billion/annum
3. The number of US importing/exporting firms has tripled over a ten year period
4. Online bank usage by SME’s has increased by 100% over the past year

   FOREIGN TRAVEL MARKET

    The size of the foreign travel products market is:

 

   $30 BILLION
 

The Travel Market key metrics are as follows:

1. 60 million people travel internationally from the US annually
2. 25 million travel overseas
3. 20 million travel to Mexico
4. 15 million travel to Canada 80% travel for leisure

  • 20% travel for business

  • $1,322. is the average expenditure per person once they arrive at their destination

  • 38% of this expenditure ($506.) is made using cash or traveler’s checks

    GENERATE NEW SOURCE OF FEE BASED REVENUE

  • Captures revenue going to large money center banks
  • Permits mark-ups appropriate to financial institution

 

   MAINTAINS FINANCIAL INSTITUTION’S BRANDING

  • Retains continuity with the financial institution’s on-line services
  • Branding in the name of the financial institution
  • Direct FX customizes software for each customer
  • Provides branding at NO COST to the customer

 

 

   COMPLIES WITH THE PATRIOT ACT, BSA & KYC RULES

  • Provides MIS reporting to help meet the financial institutions’ compliance requirements
  • Protects customer name, address, SS/TIN and account number from leaving the financial institution
  • Generates random ID to insulate transactions processed by the currency vendor
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
Direct FX Foreign Exchange Software