More than 30% of currency operations in Santander are already carried out through the FX Platform

In 2021, the bank has held 70 online information sessions on currency management

Being able to cover, in a direct, integrated and simple way, through online banking, all the currency operations required by a company with international business is the main characteristic of the Banco Santander FX Platform.

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When it will be one year since its launch, 46% of the bank's SMEs clients already use it to contract their currency operations online (they were only 2% before its launch in July 2020). Now, more than 30% of currency-related operations at Banco Santander are already carried out through this channel. 

 

FX Platform Features

 

 

 

The FX Platform has been designed in such a way that it allows currency trading 24 hours a day from Monday to Friday, through Santander's online business banking. Through it you can carry out trading over 100 currency pairs, offering the possibility of buying and selling at the current exchange rate, setting a price for future transactions or even scheduling smart orders to be placed when the exchange rate reaches a certain value. 

 

In addition, this digital service makes it easier for clients to stay up to date with market information or set up alerts on certain currencies. 

 

More than 70 informative events

 

To inform about all its functionalities, Banco Santander has carried out, only in the months of February and March, 70 online sessions on currency management aimed at their business clients, of all types and sizes, which have reached nearly 1.400 companies. 

 

These sessions address the market context and international events that influence international trade; informs about new developments in currency products that can mitigate exchange rate risk in international transactions; and Santander's digital capabilities that allow autonomous currency trading, that is, the FX Platform, are reviewed. 

 

Furthermore, the content of each event is adapted to the characteristics of the attending companies, paying more or less attention to one currency or another.

 

This is an information activity that the banking entity carries out quite frequently; before the pandemic in person and since 2020 online. Banco Santander is likely to schedule new currency events before the summer.