According to the "Febraban Banking Technology Survey 2024", carried out by Febraban and Deloitte, seven out of ten bank transactions made by Brazilians occur via mobile phone. Data like this has become increasingly common in recent years, after all, the financial market is at the forefront of sectors that are digitizing rapidly – inclusive, in the exchange area. And it is in this scenario that technologies like e-FX (electronic foreign exchange) are transforming the way companies deal with the digitization of processes.
Let's think for a minute: the foreign exchange market is a barn of global opportunities, but it brings several challenges related to its volatility and issues linked to the increase in global uncertainties, how geopolitical tensions and rapid economic changes. When we extend this reflection to the technological realm, this increases due to the growth of complex cyber threats.
In summary, the e-FX solution addresses these topics by providing company leaders with one of the most valuable assets today, what is precisely the speed
Anticipation of trends
Predict market movements accurately, using real-time data and advanced analytics, it is essential in the foreign exchange market. The e-FX is entirely structured based on this objective
The platforms aggregate information such as exchange rates, global economic indicators and trend reports, helping managers identify patterns and make more informed decisions. Furthermore, the solution has been integrated into predictive tools based on big data, allowing companies to analyze large volumes of information to anticipate volatilities and proactively adjust their risk strategies, optimizing both financial protection and operational performance
These advantages are particularly essential for small and medium-sized companies, that often lack a technological infrastructure capable of dealing with the challenges of the digital economy. With intuitive interfaces and dedicated technical support, in addition to features integrated into cybersecurity, the e-FX facilitates this transition, adapting to the needs of smaller entrepreneurs
Solid cybersecurity
Regarding protection against the attacks of cybercriminals, e-FX platforms use a robust set of security measures to preserve data and transactions. Among them, end-to-end encryption stands out, that protects information during transmission, and multi-factor authentication (MFA), that adds an extra layer of protection to sensitive access
Continuous monitoring systems also help identify anomalous activities in real time, enquanto firewalls avançados e mecanismos de prevenção contra intrusões (IPS/IDS) protegem os sistemas contra ataques externos. Additionally, many of these technologies follow strict compliance standards, like ISO 27001 and PCI DSS, and conduct regular audits to ensure compliance with best cybersecurity practices
That is to say, more than detecting divergences from expected patterns and allowing preventive actions (such as temporarily blocking a transaction or requesting additional confirmation from the customer), e-FX is a facilitator of corporate governance
Continuous educationIt is possible to perceive from these characteristics how e-FX platforms are completely assertive in meeting the greatest demands of the foreign exchange market. However, it is of no use to incorporate an innovative tool like this into corporate processes without continuous digital education.
Empowering employees to deal with the emerging challenges of the sector is no longer optional. With the constant changes in the regulatory landscape and the emergence of new cyber threats, it is essential that teams understand the vulnerabilities of the systems, the best risk mitigation practices, the importance of a solid compliance and, it is clear, the benefits reaped from operational efficiency
Inclusive, digital education is 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 the incorporated resources. From 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 currency exchange sector. And it is a possibility that does not dismiss security, then it deserves the attention of anyone who is concerned with good risk management
