NewMarkets International | Online foreign exchange, wholesale rates, outstanding service

FXPartner is a division of NewMarkets International, dedicated to meeting the FX needs of the financial services industry. The Sonnet Financial division has been a leading provider of online, wholesale international payment services to corporations since 1992. Used by IBM, Continental Airlines, Crate & Barrel, Toshiba and hundreds of other companies to handle foreign payment needs, it was chosen by CIO magazine as one of the top 50 business web-sites of 1999. FXPartner extends this award-winning solution to the needs of the banking industry.

FX Strategies for Banks

Foreign exchange (FX) for customers' international payments can provide excellent opportunities for banks to generate revenue while strengthening key relationships. This is becoming all the more significant as companies of every size expand their business across borders.

Most banks realize that FX profitability requires volume. Without volume, losses from fixed expenses can mount up quickly, particularly given the necessary systems and expertise required. That is why most banks turn to a correspondent bank to handle part or all of their FX transactions. This accomplishes the basic task -- executing a customer's trade request -- and may even generate some revenue. But at what cost? Consider these two scenarios:

FX: THE TRADITIONAL WAY

Phoning or faxing trade requests on unsecured lines to a correspondent bank, maybe wasting time on hold or waiting on a busy fax machine.
Calculating mark-ups manually; double-checking calculations.
Processing tickets and balancing customer, clearings, and fee income accounts by hand.
Trying to research queries for a customer when you may not have quick or easy access to answers.
Preparing confirms for customers.
Working out your own procedures to track FX revenues.
Wondering whether your correspondent has its eye on your customers.

Automated systems can be expensive, but ease the burden of manual processes that are so common in handling international payments. Some automated systems, however, lock you into one provider of FX -- controlling both the rates you provide to your customers and your ability to service their needs quickly and efficiently.

FX: THE NEW WAY

Using a specialty outsourcer, a company that does nothing but FX:

Trade requests can be placed online anytime using a secure Internet browser; no more waiting for a trader or a busy fax machine.
Mark-ups are automatically calculated, according to your schedule.
Account reconciliations can be handled in batch mode.
Research is just a few clicks away.
Customer confirms are pre-programmed for you.
FX revenues are easily tracked; customer profitability is quickly monitored.
Worries about your FX provider becoming your competitor are gone.

FXPartner™ from NewMarkets International gives you all this and more -- with a simple, easy, low-cost installation that is free of continuing maintenance costs. You get the benefits of a fully staffed FX trading desk, without the expense or overhead. FXPartner allows you to outsource this function and redirect staff resources to higher value functions and revenue generating activities that may not be so routine.

And, since NewMarkets is not a bank, we never compete for your customers. As your partner, rather than just your provider, we will help you make the most of opportunities that international business creates.

Call us today at 1-800-272-8339 or send us an email at info@fxpartner.com for more information and to schedule an interactive demonstration of the power and potential of FXPartner.