IndusInd Bank has launched a forex trading platform, FastForex, which will help its corporate customers to know the forex price on a real-time basis, said a press release from the bank.
This platform enables the bank's corporate customers to reach the forex treasury via the Internet and a standard Web browser. This in turn helps the treasury to price, execute, confirm and manage forex transactions with customers seamlessly.
The advantage is that with the implementation of FastForex, corporates do not have to key in at the dealing room or the back-office; suitable deal input validations can now be performed by the system at the client level.
The possibilities of errors in entering details at multiple places reduce considerably, as the deals now flow in directly from FastForex to the front-office system, the release said.