FX rate systems are offered as Software-as-a-Service (SaaS) to banks for several reasons:
Cost: By offering FX rate systems as SaaS, banks can avoid the costs associated with developing and maintaining their own in-house FX rate systems. Instead, they can simply subscribe to a SaaS FX rate system and pay a monthly fee.
Efficiency: SaaS FX rate systems are designed to be highly efficient, providing real-time exchange rate data to banks and their customers. This can help banks provide better customer service and increase transaction volumes.
Scalability: SaaS FX rate systems are highly scalable, meaning that they can handle large volumes of transactions without the need for significant investment in hardware or software.
Flexibility: SaaS FX rate systems can be customized to meet the specific needs of individual banks, providing a high degree of flexibility and customization.
Integration: SaaS FX rate systems can be easily integrated into existing banking systems and platforms, allowing banks to leverage their existing infrastructure and data.
Reliability: SaaS FX rate systems are designed to be highly reliable, with built-in redundancy and failover capabilities that ensure high availability and uptime.
Offering FX rate systems as SaaS can provide banks with a cost-effective, efficient, scalable, flexible, and reliable solution for managing their foreign exchange transactions.
Fable Fintech creates customizable international remittance SaaS solutions / white-label money transfer software / open banking APIs / white-label global payments platforms (SaaS/PaaS)/ Forex rate systems for banks and financial institutions. Fable Fintech also provides cross border B2B, DTC remittance solutions for businesses along with Fx rate systems. Learn more about cross-border remittances and international payment technology on Fable Fintech's cross border payments blog