AFEX, a global payment and foreign exchange (FX) risk management solutions provider, has announced a strategic partnership with FXD Capital, the founder-run money broker and deposit specialist.
This partnership is designed to enable both businesses to offer a consolidated and all-encompassing solution across FX and cash management. A holistic approach should help clients make better-informed decisions and ultimately manage their treasury more effectively.
Wayne Mitchell, general manager EMEA at AFEX, commented: “FXD Capital’s expertise and experience will help our clients boost liquidity, reduce counterparty risk and achieve better returns. These factors are important to consider, especially in today’s volatile market. As specialist firms with complementary remits, we offer clients objectivity and perspective, and seamless, proactive solutions.”
In the current climate of low interest rates and economic and political uncertainty, key challenges for treasurers and finance directors are clear. It’s not just currency markets that can be volatile. Businesses need to constantly assess interest rate and counterparty risks. Independent of the banks, FXD Capital provides a proactive and impartial service, offering term deposits, notice accounts and money market funds from a diverse range of banks.
Bobby Jackson, managing director and co-founder of FXD Capital, said: “AFEX is one of the largest global payment and FX risk management specialists and a pioneer in the industry. What we are offering is totally unique and we look forward to working closely with the team to provide clients with a comprehensive cash management solution.”
Businesses have amassed a record amount of cash. After a decade of ultra-low interest rates, the consolidated offering from FXD Capital and AFEX is designed to improve clients’ visibility into their cash management and FX strategies to help them make more informed decisions.
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