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Video transcript

BARX NetFX

Foreign exchange markets can be volatile, with FX rates moving up or down, whether your business is receiving multi-currency purchases or you're making payments in multiple currencies it can take days or even weeks for the risk to be managed.

In that time your profit and loss for each transaction could rise or fall. BARX NetFX powered by Barclays Award Winning BARX platform offers a flexible automated solution to manage your FX risk on each and every transaction with no minimum amount even if it's only for a single cent. Here's an example of how it works.

Mr. and Mrs. Smith from London want to book a trip to Finland to see the Northern Lights. They search online and choose a holiday through Fantastic Holidays Inc. They want to pay for their trip in pound sterling but Fantastic Holidays are based in Miami and they want payment in US dollars.

Fantastic Holidays also need to pay their Helsinki based tour operator in euros so each morning BARX NetFX sends locked in FX rates to Fantastic Holidays to enable them to price the holidays on their website in multiple currencies including pound sterling which helps Mr. and Mrs. Smith feel comfortable shopping on a US company's website.

Once Mr. and Mrs. Smith have bought online Fantastic Holidays tells BARX NetFX about the transaction allowing BARX NetFX to manage Fantastic Holidays FX risk then Fantastic Holidays sends the transaction to its payment service provider who collects the sterling from Mr. and Mrs. Smith so when Fantastic Holidays receive settlement in pounds BARX NetFX automatically converts it to euros for the Helsinki based tour operator and gives Fantastic Holidays their profit in US dollars and throughout BARX NetFX provides detailed reporting so Fantastic Holidays can reconcile all transactions and cash flows.

BARX NetFX can be applied to many different businesses and industries in e-commerce for retailers and online marketplaces for financial institutions like fund managers and stockbrokers and for payment companies. BARX NetFX can offer many benefits to your business.

You're protected. With FX rates locked in you can transfer the transactional FX risk to Barclays to ensure the certainty of your profit margins. It's automatic. Once setup and tailored to your business your risk management will happen seamlessly behind the scenes 24/7.

It's simple. BARX NetFX uses sophisticated technology to help make it easy for you for example by processing transactions individually. BARX NetFX allows you to reverse or amend the exact amount of a return at the original FX rate. It's transparent. BARX NetFX applies a pre-agreed spread over a mid FX rate to your transactions giving you certainty over your FX costs.

Thanks to BARX NetFX, any foreign exchange savings can either be passed to your customers as reduced prices or captured as a brand new revenue stream. BARX NetFX, helping you achieve your ambitions through smarter FX processing.

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