In a world dominated by the pursuit of instant gratification and having everything at less than arms’ length, it would be easy to suggest that executing foreign exchange (FX) transactions is more effective and practical through an online system.

However, FX is a complex business. Fast-moving, heavily influenced by external events and market sentiment and – to the layman – often difficult to navigate.

This means there is a compelling case for the FX dealer community and the services it provides. For a start, FX dealers offer something that even the best online systems struggle to achieve – a tailored and highly personalised service for clients. We are not talking about an old-fashioned, hand-shaking and cap-doffing type of personal service but one that helps clients get optimal results by making sense of what is happening in the market now and hedging their FX exposure in anticipation of what may happen in the future.

For example, with so much market noise, the expertise of FX dealers can help clients make sense of market information. They do this by using their live feeds to obtain and interpret the latest data and trends and also to observe market activity. They have a wealth of experience and this helps decipher which data releases sway the market the most. It is this reliable analysis that is key to helping businesses make important decisions around their FX risk management.

Providing a broad range of services does mean you have to account for a number of eventualities. At EarthportFX we are only too aware that one size does not fit all. Our dealers have to analyse the needs of our customers and then work out the most efficient and cost-effective way for them to cover international payments. This allows us to devise specific solutions across a broad range of industry sectors in such a way that it helps clients reduce their risks around fluctuating FX rates. The great benefit is that this facilitates better and more confident financial forecasting and also enables more effective cash flow management.

Cost efficiency is at the top of the agenda. Dealers have to work proactively to communicate any changes in the market to ensure their clients are notified of peaks and troughs. Being able to purchase currency at a peak rather in a trough is key to saving the client money. Too often clients have purchased right at the trough without being aware that a key data release was imminent. By having the market intelligence to delay, the cost of the transaction could have been significantly reduced. This is where the FX dealer, plugged into the market, can really add value to our clients’ payments business.

While the world is becoming increasingly digital, the personal touch is still important. While call centres have their place, we believe that FX demands a more dedicated point of contact. All of our clients have an appointed dealer based in London for their FX and payment needs. Whether they contact them by telephone or email, having that direct access is a prerequisite as far as we are concerned. Alternatively, if a client wishes to trade online, our team can provide a support service when online information is not enough or is not easily translated.

Ultimately, it is all about what suits our clients. But we are confident that in today’s complex and fast-moving landscape, personal insights can truly enhance a relationship and build long-term partnerships. That sort of service requires more than just a click or two of a mouse…

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BaydonHill is now EarthportFX

Baydonhill is now EarthportFX

More than just a new name, EarthportFX is now powered by the Earthport payment network.

Used by leading banks and ecommerce businesses; Earthport’s global network offers direct local payment capability in over 60 countries and access to the latest global payments technology.

Still with the same expert service and extensive currency capabilities, see how we go beyond FX.