AI is following hot on the heels of automation, playing a game-changing role in foreign exchange trading. The cleared FX market experienced strong growth in 2024, reaching $18 trillion in notional cleared, a 33% increase compared to 2023.1 And now AI is poised to supercharge this growth even further.
But as Celent stated in a recent report: “The initial excitement surrounding generative AI has given way to a more focused approach, as financial institutions now prioritize practical applications and sustainable growth strategies while continuing to innovate with this transformative technology.”
Rather than viewing innovation as a ‘nice to have’ expense, firms are increasingly looking to new technologies like AI to drive the efficiency and cost-effectiveness of their operations, with a laser focus on ROI for any new solutions they deploy.
In the field of data science, AI can be leveraged to derive insights that FX participants can easily interpret and use to detect market movements, enhance trading models and build informed strategies. This has emerged as a real-world use case that is leading the pack when it comes to the practical deployment of AI in the FX space, because it delivers clear ROI, enhances productivity and profitability and leads to strengthened client relationships.
In order to quantify the value that AI-driven data analytics can offer FX trading firms, Mosaic Smart Data conducted a survey among its global user base. The results tell a powerful story about how AI is delivering tangible and measurable value to Mosaic’s FX clients, transforming the way they operate and perform.
Overall, the standout takeaway of the survey was that Mosaic’s AI technology directly drives business growth, enhances visibility, and improves client engagement. Results revealed:
Improved Revenue and Growth: A staggering 89% of users strongly agree that Mosaic helps them improve and grow their revenue, showcasing how the platform turns data insights into real financial results.
Client Acquisition and Business Generation: 72% of users strongly agree that Mosaic helps them generate new business, proving its ability to identify and capitalize on opportunities.
Quality Conversations and Client Engagement: Regular, high-quality client interactions matter, and Mosaic delivers—78% of users cite better-quality conversations, while 67% see an increase in more frequent client discussions.
Customer Flow Visibility: 83% of users strongly agree they gain clear visibility into client flow, empowering better decisions.
Team and Performance Management: 78% achieve improved visibility of team performance, enhancing accountability and results.
Reporting Made Seamless: 83% of users agree Mosaic simplifies reporting, ensuring management has actionable, real-time insights without the usual manual burden.
Protecting the Base: 72% of users believe Mosaic helps them secure their existing business, reducing churn and fortifying their customer relationships.
Catalyst for team synergy: 67% agreed that the platform fosters better colleague collaboration, it bridges communication gaps and aligns teams for success.
The survey provides valuable insight into how AI can be an enabler of growth, efficiency, and visibility. The overwhelmingly positive response – particularly in critical areas like revenue growth, client visibility, and reporting- demonstrates how Mosaic delivers the right insights at the right time to ensure sales teams are always steps ahead of the competition. Specifically, anecdotal evidence from users reported three key benefits:
- Growth of FX franchise: more business secured from existing clients
- Protecting business: unwanted client churn avoided
- Ability to do more with less: optimised use of team’s time
AI isn’t just another tool – it’s a game-changer for any FX business looking to outperform and over-deliver.
1. https://www.clarusft.com/fx-clearing-2024-a-break-out-year-for-options/#:~:text=The%20cleared%20FX%20market%20experienced,%24125%20billion%20in%20FX%20futures.
