09/01/2020 | News release | Archived content
The customer is among one of the top 10 financial institutions located in the United States. Their primary focus is to provide financial services that ensure growth and economic progress for their clients.
The company has over 200 years of experience in the financial services industry. With over 700 branches across the United States, and currently generates over $7 billion in revenue on a yearly basis.
Due to the company's increase in costs, compliance, and regulatory risks that is often associated with exposure in emerging markets, they needed a trusted foreign exchange provider that would remove the burden and streamline their process.
This challenge prompted the customer to look for an all-in-one customized solution for foreign currency exchange with a more personalized approach.
Currency Exchange International, Corp (CXI) went through a rigorous process to make sure the company passed all compliance requirements prior to becoming a client of CXI.
Once all the new customer requirements were passed, our team at CXI was able to successfully connect with them to design the right solution the company needed based on their own unique situation.
During the development phase, our team at CXI created the following solutions to meet their needs:
Currency Exchange International, Corp (CXI) was able to successfully provide solutions that met all of the company's needs with a focus on account management and customer service.
The customer is now delivering a groundbreaking level of superior customer service through a monthly grading system and ticketing reports with the following results:
Customer complaints in 11 months since switching over to CXI
Customer satisfaction levels for productivity, accuracy, timeliness, and shareholder experience with CXI
Strong ratings for productivity, accuracy, timeliness, and shareholder experience for 8 out of 11 months with CXI
Previously, some branches carried a very large and unnecessary amount of cash in their vault. CXI was also able to implement a process where the inventory turnover is on average 2 - 2.5x monthly.
This effectively made it possible to account for counterfeit banknotes promptly as well as other issues that could arise when a branch holds over $500,000 in inventory at any given moment.
Recently, the customer provided CXI with a report scorecard to display their level of satisfaction with CXI. In the report, you will see the ratings CXI was given for each category over the last year since the customer became a client with CXI.
|Strong||Effective||Enhancements Needed||Not Effective|
|4||3 - 3.99||2 - 2.99||< 2|
CEIFX, Currency Exchange International's proprietary software, utilizes various advanced integrations that simplify transactions, enhance security, and enable compliance with federal and state regulations.
Available integrations include APIs, imports, and exports that streamline processes for an easy to use powerful foreign currency exchange software environment.
Simplify user access through single sign-on in your own environment.
Receive a live rate for specific currency pairs during transactions and transfers.
Built into the core of the CEIFX system, the CVS enables screening of specified fields against watch lists in all transaction types.
CEIFX's connectivity allows for imports and exports of files in multiple formats. These can be received or sent to common core banking software, treasury management systems, and ERPs.
Automate FedEx pickup with CEIFX's scheduler for every purchase entered.
Instantly generate shipping labels attached to transactions for easy shipping and tracking.