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News

ALT21 launches products to enhance foreign exchange

Wednesday 5 June 2024 11:31 CET | News

ALT21, a foreign exchange and hedging technology company, has announced the roll-out of their offerings for businesses, helping them to save on their foreign currency operations. 

 

According to the official press release, this follows years of investment in developing an all-in-one technology platform that automates all key steps of the end-to-end currency exchange and FX hedging processes, allowing ALT21 to provide an efficient and scalable service.  


Its proprietary technology, featuring low human-touch and straight-through processing, reduces operating costs, enabling ALT21 to offer FX conversions at just 4 basis points.  

ALT21, a foreign exchange and hedging technology company, has announced the roll-out of their offerings for businesses, helping them to save on their foreign currency operations.

With a charge of just 4 basis points on FX conversions, ALT21 aims to deliver significant savings to businesses, compared to over approximately 200 basis points typically charged by traditional banks. Simply exchanging GBP 100,000 into euros on ALT21 costs a user GBP 401, a 98% saving on the approximately GBP 2,000 it would cost using a traditional bank. 

ALT21 is able to offer competitive FX conversion rates sustainably, thanks to a fair yet competitive margin structure that supports long-term affordability. Additionally, the platform addresses the need for consistent ultra-low pricing on hedging products, providing full transparency with real-time display of ALT21 mark-ups on all transaction costs, pre- and post-trade. 

About ALT21 

ALT21’s mission is to make foreign exchange and hedging solutions simple, accessible and affordable. Its end-to-end platform allows SMEs to access cross-currency payments and FX hedging solutions that are simple to understand, low-cost and fully self-serviced online. ALT 21 Limited, which is authorised and regulated by the Financial Conduct Authority is a company registered in England and Wales. 

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Keywords: product launch, FX , SMEs, cross-border payments
Categories: Payments & Commerce
Companies: ALT21
Countries: United Kingdom
This article is part of category

Payments & Commerce

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ALT21

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