International treasury management online

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Global payment and risk management solutions provider AFEX has updated its online global payment platform to better integrate with enterprise software packages.

The updated platform AFEXDirect also gives an overview of currency exposure to simplify international treasury management and improves search and display functions.

AFEXDirect arms clients with the latest tools to support their international treasury function. As an increasing number of mid-sized businesses engage in commerce across borders, managing and mitigating currency risk is important, the company said.

“In 2013, the AUD/USD has traded between $0.8850 and $1.06, making international commerce across borders difficult to manage for Australian businesses,” AFEX Asia Pacific general manager Richard Poulton said.

“Our new platform ensures our clients are even better equipped to navigate FX volatility, providing greater certainty for Australian businesses and helping CFOs and treasury teams manage risk.”

AFEX, one of the world’s largest and fastest growing non-bank providers of foreign payment solutions, processes payments in over 200 countries with a wide range of currencies available 24 hours.

The latest release was engineered to improve transaction processing time, while decreasing administrative workflow.

Other key features include an improved home screen layout with currency funding balances, the ability to schedule payments to beneficiaries directly from the funding balances, and streamlined report and search functions.

AFEX launched its first Australian office in Sydney seven years ago and now employs 70 people, with offices also in Perth and Melbourne. The Australian arm of AFEX is now the second largest operation globally.