Spuerkeess, the Luxembourg state bank and savings fund, has deployed Integral’s BankFX workflow and trading technology to support its eFX operations worldwide. The highly configurable cloud-based systems and sophisticated modular solutions of the BankFX product were key factors in the bank’s decision to partner with Integral.
Now with advanced risk management services and full automation of the group’s execution workflow, Spuerkees will be able to navigate the challenges of today as the financial services industry’s taste for technological innovation accelerates amid increased regulation and stronger competition.
Claude Origer, Senior Vice President & Head of Department Global Markets at Spuerkeess, commented: “We partnered with Integral having sought an eFX system that allowed us to differentiate our offering using advanced and configurable technology. The flexibility and high degree of automation available within Integral BankFX are critical to our ability to serve the unique needs of our institutional clients. We have been extremely satisfied with the level of service delivered.”
Harpal Sandhu, Chief Executive Officer of Integral, said: “BankFX technology spans the entire FX lifecycle and offers a full-service solution to clients for a fixed monthly subscription and zero brokerage. We are delighted to partner with Spuerkeess and offer them scalable technology to meet their evolving requirements while helping them deliver a fully bespoke service to their institutional client base.”
In May 2020, Integral announced that Western Union deployed its eFX risk management technology BankFX to improve its control over more than 10,000 currency pairs available on its system. Being a cloud-based solution, BankFX helped Western Union integrate it with its proprietary systems and manage payments across the network, which covers over 200 countries and territories and more than 130 currencies.
The leading fintech firm has recently reported its December 2020 trading statistics, including an average daily volume that reached $48.5 Billion in December, which is an increase of 1.5% month-on-month and 33% year-on-year.
