AFEX launched an enhanced version of its online global payment platform.

AFEX, one of the world’s largest and fastest growing non-bank providers of foreign payment solutions, has launched an enhanced version of AFEXDirect – its leading online global payment platform.

The enhanced version incorporates client feedback to better integrate with enterprise software packages, a consolidated overview of currency exposure to simplify international treasury management and improved search and display functions.

AFEXDirect builds upon its strengths as a comprehensive international payment and risk management solution, arming clients with the latest tools to best support their international treasury function. As an increasing number of mid-sized businesses engage in commerce across borders, managing and mitigating currency risk is of utmost importance.

“In 2013, the AUD/USD has traded between $0.8850 and $1.06, making international commerce across borders difficult to manage for Australian businesses. Our new platform ensures our clients are even better equipped to navigate FX volatility, providing greater certainty for Australian businesses and helping CFOs and treasury teams manage risk,” Mr Richard Poulton, Asia Pacific General Manager of AFEX said.

AFEX processes payments in over 200 countries with a comprehensive suite of currencies available 24 hours. The latest release was engineered to improve transaction processing time, while decreasing administrative workflow.

Other key features include an improved home screen layout with currency funding balances, the ability to schedule payments to beneficiaries directly from the funding balances, streamlined report and search capabilities and an improved file upload tool with customised ERP integration potential.

“The enhancements of AFEXDirect draw upon the latest technology while ensuring that the platform remains easily navigable, resulting in a seamless client experience,” said Guido Schulz, Global EVP Strategic Management at AFEX. “The overarching feedback from clients was around further simplicity and automation. Our new payment upload tool for example achieves this by processing multiple fund transfers without the need to manually input each transaction, ultimately saving time for clients to focus on conducting their business.”

Exponential growth in Australia

AFEX launched its first Australian office in Sydney seven years ago and now employs 70 people, with offices now in Perth and Melbourne. The Australian arm of AFEX is now the second largest operation globally.

“The expansive growth of the business is a testament to our staff and business model which aims to combine the efficiencies of technology with the added communication channel of a dedicated person overseeing client accounts. The enhancements of AFEXDirect will ensure our global payment and risk management solutions remain market leading and that our business continues to grow in Australia and globally,” Mr Poulton concluded.

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