By TINTSWALO BALOYI
FIRST National Bank and Rand Merchant Bank RMB have been recognised as the Best Forex Provider in South Africa at the 17th annual World’s Best FX Provider for 2017.
Global Finance Magazine hosted the awards that measure transactional volumes, market share, scope of global coverage, customer service, competitive pricing and innovative technologies.
FNB and RMB represent the foreign exchange and cross-border payments offerings of FirstRand through a combined Foreign Exchange Product House (FXPH) which offers integrated solutions.
FNB was also awarded as best Forex provider in Botswana. The winners were selected from 93 countries and seven global regions, looking into the best banks for corporate currency hedging, the best online FX platforms and the best providers of FX research.
FNB and RMB facilitate foreign exchange and cross-border payments within the FirstRand Group through a combined FXPH which offers integrated solutions.
Anthony Grant, Chief Executive Officer of FNB Foreign Exchange says the award recognises their collective effort to offer the best foreign exchange products and services to a wide range of customers, from individuals to corporates and financial institutions.
Foreign Exchange and cross-border payments are provided by the product house through FNB for individuals, commercial and business entities while RMB focuses on corporate and institutional clients, he says.
“Over the years we have made sizeable investments in our infrastructure to ensure we offer a seamless and holistic foreign exchange service that is accessible to clients across convenient digital platforms.”
The two brands have foreign exchange ‘dealing rooms’ in nine Africans countries and between June 2015 and June 2016 over 1,7 million forex transactions were recorded.
The use of digital platforms continues to play a central role as clients have access to innovative tools such as the FNB Online Banking Enterprise and a web based dealing tool known as Accelerate.
“FNB and RMB offer an all-round and trusted foreign exchange service that are suited to individuals, business and institutions of varying sizes. Our commitment is to continue offering world class service and solutions that address our clients’ needs in a simple and efficient way,” concludes Grant.
– Guardian