According to the research ‘Febraban de Tecnologia Bancária 2024’, conducted by Febraban and Deloitte, seven out of ten banking transactions carried out by Brazilians happen via cell phone. Data like these are becoming increasingly common in recent years, after all, the financial market is at the forefront of sectors that digitize quickly – including in the exchange area. And it is in this scenario that technologies like e-FX (electronic exchange) are transforming the way companies deal with process digitization.
Let’s think for a minute: the foreign exchange market is a source of global opportunities, but it brings various challenges related to its volatility and issues related to the increase in global uncertainties, such as geopolitical tensions and rapid economic changes. When we extend this reflection to the technological sphere, it increases due to the growth of complex cyber threats.
In summary, the e-FX solution addresses these topics by providing business leaders with one of the most valuable assets of today, which is precisely speed.
Anticipation of trends
Predicting market movements accurately, using real-time data and advanced analytics, is essential in the foreign exchange market. The e-FX is entirely structured based on this goal.
Platforms aggregate information such as exchange rates, global economic indicators, and trend reports, helping managers identify patterns and make more informed decisions. Additionally, the solution is being integrated with predictive tools based on big data, allowing companies to analyze large volumes of information to anticipate volatilities and adjust their risk strategies proactively, optimizing both financial protection and operational performance.
These advantages are particularly essential for small and medium-sized companies, which often lack a technological infrastructure capable of dealing with the challenges of the digital economy. With intuitive interfaces and dedicated technical support, as well as functionalities integrated with cybersecurity, e-FX facilitates this transition, adapting to the needs of smaller entrepreneurs.
Solid Cybersecurity
Regarding protection against cybercriminal attacks, e-FX platforms use a robust set of security measures to preserve data and transactions. Among them, end-to-end encryption stands out, protecting information during transit, and multifactor authentication (MFA) adds an extra layer of protection to sensitive accesses.
Ongoing monitoring systems also help identify anomalous activities in real-time, while advanced firewalls and intrusion prevention mechanisms (IPS/IDS) protect systems against external attacks. Additionally, many of these technologies adhere to strict compliance standards like ISO 27001 and PCI DSS and undergo regular audits to ensure compliance with the best cybersecurity practices.
That is, more than just detecting divergences in expected patterns and allowing preventive actions (such as temporarily blocking a transaction or requesting additional customer confirmation), e-FX is a facilitator of corporate governance.
Continuous Education It is possible to perceive from these characteristics how e-FX platforms are entirely assertive in meeting the major demands of the foreign exchange market by themselves. However, it is pointless to incorporate an innovative tool like this into corporate processes without continuous digital education.
Empowering employees to deal with emerging sector challenges is no longer optional. With constant changes in the regulatory landscape and the emergence of new cyber threats, it is essential for teams to understand system vulnerabilities, best risk mitigation practices, the importance of solid compliance, and, of course, the benefits reaped from operational efficiency.
Digital education is in fact the gateway to establishing governance protocols that ensure the effective implementation of innovative technologies, the creation of clear policies, frequent audits, and the use of key performance indicators (KPIs) to measure the effectiveness of incorporated resources. With a structure like this, updating the organizational culture and keeping up with the market becomes a less complicated mission.
Being fast is possible in the forex sector. And it is a possibility that does not overlook security, so it deserves the attention of anyone concerned with good risk management.
