www.tatvasoft.com" title="Software Outsourcing Company
India" style="text-decoration:none;color:#000000"
target="_blank" >OUTSOURCING FX is No New Trend for Bank:
While today's competitive financial market demand that banks
respond to market needs quickly and efficiently, there was a
time when only the largest money centers could afford to offer
foreign exchange (FX) service. Technological advancement has
made a foreign exchange product line accessible to bank of all
sizes. However, in today's economy, bank has to consider the
feasibility of offering foreign exchange product and services.
As a fee-based product offering, foreign exchanges
service can enhance a bank's revenue stream while meeting a
market need. Yet, the cost for creating a FX processing
environment can be enormous. It is for this reason that foreign
exchange is an area that numerous bank outsource to
correspondent bank or non-bank providers in order to compete in
today's financial market. Outsourcing FX product and services
allows bank to offer an advanced technology solution, industry
expertise and superior customer service without the costs of
back office investments. Art Gillis, principal of
Computer Based Solutions, Inc. in Dallas, Texas, reported
that "About 43 percent of America's 9,355 banks and thrifts
currently outsourcers some of their operation."
Ten questions to be asked before evaluating the Foreign
Exchange Online Systems.
1. Is the system networked from the parent bank to branch bank?
2. Does the system provide flexibility for your bank to share
revenues with the provider or to mark up rates and still have
the ability to remain competitive? 3. is the system integrated
seamlessly with your bank's other system? 4. Does the system
allow your bank to retain controls over profit margins,
processes and account management procedure? 5. Can the bank
re-brand the system for its bank and subsidiary? 6. What
capabilities are available to store, track, and send your
customer information's? 7. How are investigation handled? 8.
What is the security feature? 9. Can your bank create a
centralized or decentralized process for managing its foreign
exchange transaction? 10. Does the systems enable your bank to
provide customer real-time market information's?
TatvaSoft - http://www.tatvasoft.com An Offshore Software
Development Outsourcing company from India Thanks from chet..
Written by: Chetan Sojitra
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