What is ERS?
For any institution dealing with foreign currency trade and transfers, exchange rate information is very critical. The nature of the business is such that the minor change in the rate of currency conversion impacts the business to large scale. For large and complex bank with many branches and locations over the globe it will be a challenge to keep up with the volatility of the market.
A centralized robust, steady and flexible system, that can pull in real time/near real time market feeds from the providers , distribute it to downstream systems, execute complex calculation based on variety of parameters and apply margins as desired by the bank’s policies at various levels, is the most sought after solution to address these challenges.
Our Exchange Rate System (ERS) is the best in breed solution for any financial institution across the globe. The product is built on a modern, flexible framework with inbuilt adaptors to pull in data feeds from various providers like Reuters and Bloomberg. The rules, logic and the workflow is configurable and adheres to industry standards. The unique architecture opted by our engineers in building the ERS, allows it to fetch currency rates against US Dollars from Reuters and convert it against multiple currencies as desired by the bank.
ERS provides the facility to configure the frequency and schedule the live rate feeds from Reuters/Bloomberg for the configured list of currencies. The Automated exchange rate solution offers extensive flexibility to configure various kinds of margins against diverse and dynamic hierarchies / customer segments and publish the rates across downstream channels. ERS has a rapidly growing user base with a clientele that include some of the largest banks in UAE.
Why ERS is the best solution for your business?
- Premium solution with extensive flexibility / configurability
- Seamless currency conversion feature
- Dynamic margin defining – multi institution, segment and channel wise
- Highly user friendly
- Real time exchange rate fetch from Reuters/ Bloomberg
- Dynamic hierarchy / customer segment definition
- Configurable margin definition
- Multi location/ multi time zone / multi institution
- Intuitive alerting if rate variance is above defined tolerance
- Extensive reporting feature with graphical reports for fluctuating exchange rate pattern