LAGOS, Nigeria – Verto, a leading global payment solutions provider, has announced the launch of a new feature called “Auto Exchange,” designed to empower businesses with automated currency conversions and simplify complex cross-border foreign exchange trades.
The innovative tool allows businesses to pre-set their desired exchange rate and specific trade amount directly within the Verto platform. Once the live market reaches the designated rate, the system automatically executes the transaction, eliminating the need for constant manual monitoring of volatile currency markets by businesses.
According to Tomasz Bilakiewicz, Verto’s Product Director, the development of Auto Exchange was driven by the need to help businesses manage their foreign exchange (FX) transactions more efficiently while significantly reducing the risk of missing out on favorable market rates.
“We’re thrilled to introduce Auto Exchange, a feature designed to bring both efficiency and peace of mind to our customers’ FX operations,” Bilakiewicz stated. “No more constant refreshing or fear of missing a target rate. With Auto Exchange, businesses can set their parameters and trust Verto to execute automatically, allowing them to focus on what truly matters: growing their business.”
Verto highlighted that many businesses frequently lose valuable time tracking currency fluctuations in an effort to secure optimal rates. The newly launched feature is poised to alleviate this burden by automating both the monitoring and execution phases of the FX process.
Through the Auto Exchange interface, users can specify crucial parameters, including the currency pair, the precise target exchange rate, the desired trade amount, and the direction of the exchange (e.g., converting from British Pounds to US Dollars).
The firm noted that this new tool is an integral part of its comprehensive suite of FX solutions, which provides businesses with access to competitive, bank-beating rates across 49 currencies, with a particular focus on emerging markets.
Verto positions itself as a global payments platform committed to simplifying international money transfers and currency exchange for businesses of all sizes, aiming to foster their growth in the global marketplace through transparent, fast, and cost-effective financial solutions.
