CurrencyVue partners with AFEX in move to revolutionise payments and FX Hedging
October 30, 2024
By: Payment Week
Sydney, October 30, 2024: Currency solutions platform, CurrencyVue, has today announced the launch of its Integrated FX Risk Management Platform, transforming the way businesses manage complex payments and FX hedging contracts.
In partnership with global payments and risk management provider AFEX, the online platform allows businesses to manage international trade, global payments, and foreign exchange contracts via seamless integration into existing software and ERP systems.
The platform pulls foreign currency exposure data from outstanding purchase orders and invoices, automating risk management and payment activity to reduce the time and costs associated with manual processes and FX complexities. A recent global survey by Deloitte found that nearly 60% of businesses struggled with a lack of visibility of their FX exposures and the reliability of forecasts.
CurrencyVue CEO and Founder, Matt Tyrrell, said the partnership with AFEX was a game changer for CurrencyVue users.
“We know that making payments and hedging against FX volatility can be complex and time consuming, with spreadsheets previously used to fill the gap. It is clear that larger SME and mid-market businesses require a quicker and more efficient way to handle FX and payment capabilities,” Mr Tyrrell said.
“Partnering with AFEX means our Integrated FX Risk Management Platform enables businesses to integrate all FX payments – a capability not previously available to the mid-market.
“Put simply, we are giving businesses the ability to automate and standardise painful, manual processes, and gain efficiency – the feature most desired by businesses exploring alternate providers[2].”
At launch, the CurrencyVue Platform has integrations with ERP systems: Netsuite and Microsoft Dynamics Navision, with more under development.
“As two of the most popular ERP systems in the mid-market for wholesalers and manufacturers, there has been strong domestic and international interest in the Platform. Initial feedback from developer partners and beta users has been overwhelmingly positive,” Mr Tyrrell concluded.
About CurrencyVue
Established in 2015, CurrencyVue emerged from the realisation that there were no simple and easy to use platforms that helped businesses manage international payments and FX hedging. Rather than focusing on the speed or cost of making transactions CurrencyVue has taken a different approach by using APIs to connect ERP systems directly with banks and FX providers, to automate manual processes and provide businesses with real time FX exposure visibility.
To find our more, please visit www.currencyvue.com
About AFEX
AFEX is a trusted global payment and risk management solutions specialist with a heritage that dates back to 1979. We offer a comprehensive range of global payment and foreign exchange services, including Foreign Currency Drafts, Wire Transfers, risk management tools and designated Account Executives. We can handle every aspect of a client’s foreign payment needs, from risk consultation to transaction execution. AFEX maintains offices across the Americas, EMEA and Asia Pacific.
To find out more, please visit www.afex.com
All press releases and other materials presented or released that are contained within this media were, to the best of AFEX’s knowledge, timely and accurate when issued. However, the passage of time can render information stale, and you should not rely on the continued accuracy of any such material beyond the date of issuance. AFEX has no responsibility to update any information contained in this material. All viewers should carefully check the dates of issuance of the material contained within this media.
Associated Foreign Exchange Australia Pty Limited (‘AFEX’) ABN 119 392 586 and AFSL 305246, Citigroup Centre, 2 Park Street, Suite D 38th Floor, Sydney NSW 2000. Registered Office: Grant Thornton Australia, Level 17 383 Kent Street, Sydney NSW 2000. AFEX is authorised and regulated by the Australian Securities and Investments Commission (ASIC).
