Transferbank launches Currency Exchange Guide, the first AI for optimizing foreign exchange operations

Transferbank, one of the main platforms for international payments and receipts in Brazil, launched the Exchange Guide, the first Artificial Intelligence (AI) focused on optimizing foreign exchange operations in the country.

In Brazil, foreign exchange transactions can only be carried out by institutions authorized by the Central Bank (Bacen). Each international transaction needs to be classified with a specific code to ensure legal compliance.The Exchange Guide was developed to simplify this process, allowing banks, brokerages and other companies to quickly consult the ratings, required documentation and regulatory basis.

Luiz Felipe Bazzo, CEO of Transferbank, points out that the new tool is a great ally in the operationalization of buying and selling foreign currencies.“Technology offers a significant benefit to the national financial market, which still faces challenges with complex manual processes and high bureaucracy, especially with regard to compliance decisions”, he says.

Although the New Legal Framework for Foreign Exchange defines that the indication of the classification code is the responsibility of the client, the complexity of the process still requires technical support. The Exchange Guide helps financial institutions to streamline this service, allowing consultations of all classifications defined by Bacen, whether by navigation or search through the description, object of the operation or code. The platform suggests the necessary documentation and informs about the appropriate taxes.

The tool also includes an interactive chat with Generative AI, which allows customers to ask questions about legislation, taxes and regulations. Users can enter real scenarios of currency activities to receive recommendations on what purpose to use.

Rafagan Abreu, CTO of Transferbank, points out that the platform is “completely intuitive”. “The system offers a user-friendly and easy-to-use interface, anchored in an advanced database to bring more security and efficiency to different types of” exchange operations, he explains.

The Exchange Guide is already integrated into the Transferbank exchange platform and its white label versions, serving clients such as Mirae Asset, Gold Broker, Exchange Map and Nord Investimentos. The solution offers a personalized experience, maintaining the visual identity of the brands, and has as target audience banks, brokerages, multi family offices and offices of autonomous investment agents, such as those accredited to XP and BTG. Each office has a unique link to exchange registration, ensuring that all customers are properly tracked and associated with the office and the specific advisor.

With the arrival of the Exchange Guide, the Brazilian foreign exchange market should undergo significant changes in the coming years.For the CEO of Transferbank, the professionalization of the sector with new technologies and solutions that reduce the bureaucracy of foreign exchange operations are the main trends.

“Innovative platforms like this one bring smart features to reduce costs related to mechanical tasks, whether in relation to potential human failures or” training, reinforces Bazzo. “Segment digitization represents an important step for the exchange of the future‘, which involves fast and accurate decision-making’, he concludes.