Remittance Tool
For a Large Private Sector Bank
- The Client is a leading Private sector bank in India.
- It has strong customer base in retail, corporate and NR space.
- The Bank wanted to build a Remittance tool for NR team for them to pitch their proposition strongly knowing competition very well and with some analytics.
- They needed to have an Online Currency Comparison, Analytics section, FX calculator and FX News Section .
- Fetch inward and outward currency rates, whichever available from different bank and scrapable websites either from HTML page/.pdf format through automated web scraping approach.
- OTP based login access: Login access to tool is given through one-time password (OTP) on email ids of relationship managers of IDFC First.
- Created Forward pricing Calculator: Indicative calculator for forward pricing and remittance margins.
- Fetch FX market news for daily forex market news updates using our Newsrator tool libraries.
- Fxrator: Remittance Tool called Fxrator was implemented which is a cloud-based application and is mobile responsive.
- Analytics: The Tool is capable of showing history of daily inward-outward currency rates, interbank rates up to 20 days with a functionality of selecting date, bank and currency and trends.
- Calculator: It has forward pricing and margin capabilities for relationship manager’s use and sharing with customers.
- News: FX Market news section for tracking daily FX market updates.
