Editor’s Note: This is part of an ongoing series about the Centers of Excellence that are integrated into the network that powers Transpay’s Local Bank Transfers. Our Centers of Excellence include: Treasury (liquidity and foreign exchange); Network Development; Compliance (risk management and security); Integration (API); and Customer Service.
Treasury, a function that includes the management of liquidity and the trading of foreign exchange (also known as forex or FX), is one of the global teams of Transfast, owner and operator of Transpay. The team is spread across the globe: When the sun rises on the Pacific Rim, the Treasury team in the Philippines begins trading across the Asia-Pacific region. The activity accelerates as markets open in the Europe, the Middle East and Africa (EMEA) region and the team in Dubai launches its workday. Later, as morning comes to Latin America and North America, the New York team begins trading. Nimble decision makers, our traders synthesize vast amounts of fast-changing information including shifts in local economies and rates of exchange, leveraging that knowledge to our customers’ advantage when buying and selling currencies across the globe. This team of more than 50 enables Transpay to offer eight funding currencies and more than 60 settlement currencies.
Businesses can often be challenged by the uncertainty created by currency fluctuations when sending funds internationally. That uncertainty can make it difficult to achieve the goals you set for yourself in terms of profitability or other metrics. Thanks to our in-house Treasury function, Transpay is able to eliminate that uncertainty by offering guaranteed rates, so our business clients know how much their Local Bank Transfers will cost. What’s more, our Treasury team is constantly monitoring rates to ensure that Transpay buys at the best rates and passes those on to you.
While it’s true that other payouts providers might offer guaranteed rates, few offer guaranteed rates across a broad range of currencies in the way that Transpay does. It's one thing to offer guaranteed rates in a stable currency; it’s entirely another to offer the same guarantee in a currency that’s highly volatile, as is the case in many emerging markets.
Beyond guaranteed rates, our in-house Treasury team is also instrumental in enabling us to offer highly competitive rates. Other payouts providers might use a large bank or a few forex counterparties to trade forex. Or, they might outsource the function. Our Treasury team has nearly 200 counterparties with which we can trade forex. In a complex market with volatile rates, where there are many challenges in managing liquidity and rates, our Treasury function really shines. The rate that can be obtained in the local market with counterparties versus the rate that a global bank can offer might be much more advantageous, and we are able to pass that savings on to our clients.
Are you ready to learn more about how Local Bank Transfers can help you reach your goals? Contact a Local Bank Transfer specialist today.