Profile Software Unveils FX Risk Management Tool

In an effort to provide complete management of foreign exchange risk, financial solutions provider Profile Software rolled out its Acumennet eFX offering. The technology was created to help bank agents, digital channels, branches and customers handle their foreign exchange risk in an effectual as well as fast manner, according to an announcement.

According to the announcement, “Acumennet eFX is an end-to-end solution for clients and sales desk promoting Banks’ Digital Transformation strategy, improving client experience and empowering treasury professionals with cutting-edge tools increasing client trades and productivity. It can fully accommodate rapid business expansion and future needs for competitive Treasury management operations.”

The technology can be put into place on the cloud or on location via one platform with one infrastructure. Acumennet eFX  is built off of an application programming interface and can come with a company’s own branding, while connecting with different systems or information providers. It provides management of a series of exchange rate channels and best rates for clients.

Additionally, the technology comes with FX forward and FX spot support, automatic dealing, position summary with customer blotter, a full customer view providing complete automation of procedures, client FX position monitoring, request for quote with the inclusion of Timer and current FX rates.

The company said the Acumennet Treasury Management platform was strengthened with an offering focused on the client that assists treasurers and their customers handle risk and connect with current banking platforms.

In separate news, BNP Paribas, the French financial institution, unveiled a FinTech partnership to bolster its foreign exchange service offerings per news in September. The bank said it was teaming with FX technology company Kantox through an arrangement that would let BNP Paribas provide Kantox’s Dynamic Hedging software to business clients.

Kantox Dynamic Hedging is a way for treasurers at companies to automate their FX handling and was to be connected to the Centric digital banking infrastructure of the bank per news at the time.