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Browser-based customer foreign exchange transaction work-flow management solution
The Mercury FX solution offers direct bank to customer channel for a bank’s customers to obtain competitive FX quotes. It supports delivery of a comprehensive array of forex products to retail customers and enables automated reconciliation and standing instruction based deal processing for Inward and Outward remittances.

Direct to Customer Dealing (DCD)

The DCD module provides a direct bank to customer channel for a bank’s customers to obtain competitive FX quotes. The system has a well designed margin set up feature including skewing and widening options. Using this facility, Treasury can pre define margins for different customers based on different set parameters. "Request for Quotes" (RFQ), with Auto Quoting and dealer intervention is fully supported with chat facility to directly connect to clients.

Direct to Customer Dealing (DCD) : Credence Analytics
Centralised Pricing and Risk Management Solution : Credence Analytics

Centralised Pricing and Risk Management

Mercury Fx has a powerful pricing engine that centrally calculates prices for forex products offered by Banks to customers. It accepts underlying market prices from providers of indicative market rates. Dealers can add spreads and make adjustments to the rates based on factors like currency pairs, transaction tenors and sizes, customer types etc.The system monitors exchange rate risk via price bands to limit highly volatile rate fluctuations. Other limits for retail customers based on product type and purpose code and umbrella limits across both can also be monitored.

Interfacing Capabilities

Mercury can be interfaced with multiple legacy systems to enable seamless flow of data among these systems. Key interfaces :

  1. Treasury - Real time interface with Treasury system for impacting positions
  2. Core Banking - For Balance Inquiry, Posting of Accounting Entries,Uploading of FCNB Deposit Rollovers
  3. Trade Finance - Fetching transaction & update rates
  4. Prepaid Cards - Load/Reload/Refund Transaction related data
Interfacing Capabilities : Credence Analytics
Retail Module : Credence Analytics

Retail Module

This module facilitates increasing wallet share in retail forex business with efficient forex delivery to customers. The module supports operations in Currency Notes, Stored Value Cards, Outward TT, Travellers Cheques and Demand Drafts. Right from inventory setup to transactions, billing, SWIFT message generation, limit monitoring to reporting, the entire workflow is managed within the system. MIS reports can be generated to measure turnover of branches / customers which facilitates decisions on tweaking the margins for best performering branches / customers.

Large Transaction Volumes

Mercury is designed to handle large transaction volumes from multiple branches on a real time basis for rate-taking and updating of position and gaps. Benchmarking exercise to assess the capacity of the system has been done at IBM Innovation center.

Large Transaction Volumes : Credence Analytics

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