As a groundbreaking Vietnamese technology product in domestic foreign exchange transactions, FX Trading not only enables banks to optimize and standardize management procedures but also serves as a catalyst for digital transformation.
Transaction Automation, Improved Customer Experience
The FX Trading foreign exchange transaction management system was built by the technical professionals at TNTech Joint Stock Company and received the Sao Khue 2023 Award. A TNTech representative stated that the product concept arises from the necessity to address challenges in foreign exchange transaction management between headquarters and branches, which banks frequently face, including the need for manual negotiation and transaction closure, significant delays in exchange rates, excessive time consumption, and a high susceptibility to errors.
Subsequently, TNTech engineers developed FX Trading, with capabilities akin to those of Reuters' premier trading tool, ET. This system is engineered utilizing contemporary technologies and adheres to global standards.
FX Trading: a pioneering Vietnamese product in the field of foreign exchange trading in the domestic market.
In FX Trading, customers of banks benefit from the most competitive and market-driven exchange rates. Customers can effortlessly purchase and exchange foreign currencies through many channels: Counter transactions, Internet Banking transactions, Mobile Banking transactions.
The systematic oversight from the exchange rate reporting phase through to the negotiation, transaction closure, and sales contract signing facilitates banks in efficiently monitoring and consolidating management reports, as well as revenue and profit reports in foreign exchange trading.
Automating numerous foreign currency transactions daily enhances traders' efficiency, reduces errors, and facilitates increased revenue for banks.
Promoting Digital Transformation in Banking Industry
A TNTech spokesperson stated that FX Trading has undergone quality and reliability testing through its installation at a bank with substantial foreign currency transaction volume in Vietnam.
Additionally, FX Trading offers a lifetime license without restrictions on user quantity, facilitating long-term cost savings for banks. The chatbot functionality will facilitate rapid information retrieval and provide specialized support services to guarantee customer satisfaction.
FX Trading, created by a team of Vietnamese engineers, can consistently tailor technological solutions to meet the requirements of banks during the digital transformation process. Furthermore, TNTech offers specialized support services, assisting banks in mastering technology.
Experts anticipate that the era commencing in 2025 will signify a pivotal moment for Vietnamese banks, characterized by significant advances that will enhance performance in digitalization. The industry's overarching objective is to customize consumer experiences, enhance corporate processes, and execute sophisticated digital transformation, concentrating on the critical components.
With over 20 years of experience in the finance and banking sectors, TNTech has been dedicated to delivering complete IT solutions and services that enhance competitiveness and operational efficiency for several banks and financial institutions in Vietnam. The FX Trading solution improves the strategic product chain, which lets banks meet management requirements in line with a modern digital banking model while also connecting with major financial markets around the world and in their own countries.