Robin Poynder, Global Head of FX Customer Solutions, Reuters
Robin Poynder, Global Head of FX Customer Solutions, Reuters

The FX distribution model – Online FX forcing tough decisions

Robin Poynder looks at some of the difficult problems facing banks in looking for the most efficient methods of distributing their transactional capability in the new eCommerce environment.

First Published: e-Forex Magazine 17 / Leader / January, 2005

The balancing act - Banks have always been driven by the business requirement of satisfying their customers’ needs. Long before eCommerce became the reality we all understand today, banks were balancing the costs of developing systems to facilitate communications between their customers and themselves against the benefits that each party would enjoy.As eCommerce growth has accelerated and matured over recent years the providers of price have continued to balance the allocation of resource towards those projects that will bring most mutual benefit to the parties involved. Development resource is always scarce, even when budget can be found for a project, and these purely practical concerns often lead the assessment of the cost-benefit equation when deciding on how best to start translating a bank’s strategy into reality. At any one time there are probably many exciting new projects under consideration that could further the strategic aims of the bank, but the harsh realities of resource...continued

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