If there is a sharply fluctuate rally rate , iBanFirst ’s phone rings more often . " There are often two emotions that dominate , namely awe and rapacity , " observe currency expert Joost Derks . He advises SMEs not to become a toy of their own emotions . " Many companies care to rely on their catgut feeling , but that often goes wrong anyway . It is better to make agreements with yourself and amaze to them and not go along with the emotion of the moment . "
" Fear is often stronger than avarice . When the price become in the ill-timed direction , and border go down , we often see companies paralyzed by fear , sidestep risks at a bad time when they previously knew they were at hazard , " Joost go on .
" Now , for example , the dollar sign is light , so they prefer to set up the strategy of wait and see . In itself , this is a very human thought process . But it is the reason why we often enquire beforehand at what level a customer is satisfied . you may always desire more , but you should also not forget to take reward of a situation and rue it afterwards . Our advice to troupe is always to fuck where the risks are and what peril they can and want to take as a company . The starting point is always to hedge the negative risk and keep the positive risk open . "
" No one can foreshadow the telephone exchange rate . At most , you may have an estimate where the interchange rate is conk out , but that offers no guarantee . As iBanFirst , we seek to recollect along with the customer about which solution beseem them best . We do this by asking vital questions and listening cautiously to what the customer require . On that basis , we create a number of hedge strategies that befit the client . After all , what alternative someone makes always rest very personal . "
In less than a decade , iBanFirst has become a partner for small and average - sized enterprises ( SMEs ) maneuver across borders , combining a payment platform with the supporting of up-to-dateness experts . With iBanFirst , executive and finance teams can gain unmediated memory access to currency markets , custody , collect , and send money in more than 30 currencies , as well as develop tailor-make hedge strategies .
" The solution we offer are not complicated , but each consist of understandable products . With our platform , we process more than EUR 1.4 billion worth of transactions every month . Within Europe , we operate in 10 different land . That makes it interesting for companies to open an chronicle with iBanFirst because then the money is immediately in their account . "
" The fresh green groceries sector is characterise by short jumper cable time . But we also see interest from sweet green groceries troupe that have long - term contracts with UK retailers , for example . That makes it interesting to attend at a dynamic advancing contract . "
" Another interesting choice we can offer is a whippy forward contract . That is interesting , for example , for society that make love they need dollar or pounds within four to eight weeks but do n’t yet know precisely when they need to pay or receive them . They can devote those with a flexile forward for the said period , " Joost says .
defrayal trackerA common feature that iBanFirst deploys in its platform is the defrayal tracker , which uses a engineering to track all foreign payments . " A kind of track - and - trace like you have with your DHL delivery , but to see on the button where your international requital hang out , " Joost explains . " For lesson , they can see that the defrayal has already been made but not yet credited by the beneficiary ’s cant . client often use this information to share with their supplier . This increases reliance , and with this , we make defrayment transactions more lucid . "
" Thereby , from a compliance point of view , we check in advance where a payment is going or coming from . When companies create a raw payee , the counterparty is ensure first . In the platform , it is potential to enter several dominance steps , the so - called four - optic principle , which always requires two or three people to make the defrayal . If , for example , there is a change in account data , the onetime data must be deleted before the unexampled data is enter . The soul within the organization with the highest self-confidence is notify of this . Only when everything is approved can payments go out . e-mail fraud is the rescript of the twenty-four hours , and you could not be too careful , " Joost conclude .
For more information : Joost DerksiBanFirstTel . : +31 85 808 5033[email protected]www.ibanfirst.com
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