All major PSPs come pre-integrated to your system, which means your traders can use their favourite payment methods for deposits straight from the client portal, no matter where they are in the world. This module allows you to create a system of referral connections or an affiliate network. Each trader can become a partner and connect other partners to the network to trade and receive commissions from the spread difference. This module allows you to upload all the necessary information that is somehow related to the affiliate program, keep records on the number of partners, and also access the data of the partners themselves to analyze their activities. Forex back office software has an extended range of various useful functions that allow you to flexibly configure numerous parameters related to clients, their verification, reporting, etc.
The first and main component of Forex back office software is the user interface, which is the repository of many functions available within the Forex CRM platform. It is forex back office software an indispensable assistant in matters of interaction between the company and clients. Back office forex software needs to make it easier for you to run your brokerage.
This is EXACTLY what FX back office offers you the chance to do.
Furthermore, a forex CRM integrates easily with other systems, such as marketing automation tools and sales services, thus enabling better and more effective communication with customers. With back office software, brokers can streamline their operations to meet even more complex demands. Since the Back Office does not directly deal with customers, it affords companies the opportunity to outsource the work to third-party entities. For example, a company can outsource all its accounts-related tasks to an accounting firm. Over the past few years, the crypto space has been developing at lightning speed, being the foundation for creating new branches of development and improvement of blockchain technology.
The ability to attract new clients and retain existing ones largely determines a brokerage’s success. Our Forex CRM and trader’s room solution can be integrated easily into your existing forex website. Moreover, we can also undertake the design and development of a dynamic and responsive forex website for you, either as a bundle with our CRM solution or independently.
Compliance and Risk Management Systems
You now have the option to keep critical customer data in a secure environment and with a trusted vendor within your premises or on our highest security hosted environment. Dynamic Works is certified with ISO9001 and ISO27001 for Information Security. This goes from when they register (e-mail/contact number/verified documents) to all communication that is made with the client thereafter, and all of their transaction history. Know exactly how much profit you made in the last 24 hours with automated revenue reports indicating earnings from all your data sources and platforms. Get a brokerage focused financial back office to do the heavy lifting for you with a tailor made Forex CRM. You need to consider your goals and objectives before deciding which one is right for you.
These insights can monitor trading activities, understand market trends, optimise trade execution, and improve overall business strategies. A sophisticated reporting system also facilitates regulatory compliance by generating accurate and timely reports for auditing purposes. A fully-featured trader’s room should also make it easy to open an account and conduct financial transactions around the clock. Companies in the forex industry need to keep up with the latest trends and stay ahead of competitors.
What to look for in forex back office software solutions
A Forex CRM Solution, through the integration of all sales and clients’ data in one system, render the analysis of and reporting on trading habits for each customer much easier and more reliable. Customer Relationship Management, or CRM in short, as revealed by its name, is concerned primarily with your customers. As customers are the core of any business, forex brokerages being no exception, a Forex CRM is a crucial tool and can be used to better organize and keep track of customer details and sales more effectively. Our dedicated Forex CRM solution integrates components that aid the management of data and sales.
- Look for software that lets you specify an expiration date so you know when new documentation is needed.
- Evaluation of foreign exchange profit and loss is undertaken at the end of specified period by the Accounts Department of backup wing, keeping in mind provisions of RBI Guidelines for internal control for Foreign Exchange Business.
- Once connected, you get a fully controlled system that allows you to securely receive
end-user funds, as well as provide you detailed reports and analytics, and much more. - Even though Back Office staff do not contact clients, they work closely with front and middle office employees.
- On the basis of vouchers passed after verification of actual contracts notes received from the broker/counter-party and confirmation of the deal by the counter-party the Accounts section should independently write the books of accounts.
This feature ensures that the brokers can offer their clients various payment methods, from bank transfers and credit/debit cards to digital wallets and cryptocurrency payments. A sound payment processing system should be robust, secure, and capable of handling multi-currency transactions, providing traders with a smooth, secure, and flexible trading experience. If your back office software integrates with your forex trading platform, you can have real-time monitoring of all accounts.
Partner and IB (Introducing Broker) Management Tools
The back office should enhance the speed and efficiency of control, processing and settlement of deals put through by the front office. Back office also verifies that the rates / prices mentioned in the deal slips are conforming to the market at the time the deal is entered into. Such verification is done by scanning the Reuter screens and noting down the market rates at different points of time. Profit/Loss arising out of foreign currency money market transactions should be reflected in interest differentials earned and swap cost incurred.
The internal mail & ticketing system is set up by default for seamless communication. Other customized support systems can also be integrated as per your requirements. With the Sales Pool Module customers are automatically assigned to the various sales pools, streamlining the sales processes within the enterprise. DGM https://www.xcritical.com/ RemAPP is a solution that delivers the MetaTrader Terminal in a SaaS format, with possibly less than 1ms latency; operable on iOS, Android, Linux, MAC and all browsers. Financial institutions can now monitor and manage their customers’ DGM RemAPP subscriptions through Syntellicore, reducing their administration costs.
Swift Client Onboarding & Tailored Forex Brokerage CRM Back-Office
It should allow you to upload and store documents to verify clients’ identities. To be aware of when documents need to be updated, opt for the software that enables you to specify an expiration date. Forex back-office software has been developed to facilitate the smooth execution of your brokerage. Implementing this software into your Forex business will improve its productivity to a great extent. The product provides ready-made integrations with Zoho
and Microsoft Dynamics CRMs. If necessary, you can connect any other CRM
software with help from our technical department.
Back Office means the section of an office that deals with administrative tasks. The term Back Office comes from the fact that companies of the past would have separate office areas for the front, middle and Back Office staff. While the front office deals directly with clients and customers, the Back Office handles all the administrative tasks.
Client / Account Management
You can assess whether they provide proper support upon their rapport, customer reviews, and how they execute demos. Having a solid foundation regarding Forex means that the company can develop features that alleviate the specific obstacles you encounter in your brokerage. Consequently, having such a provider will accelerate the growth of your business.
With a team comprising members with industry experience dating back to 2007, this company positions itself as a seasoned Forex CRM provider. The Forex market has evolved significantly over the past few decades, emerging as a major hub for international currency trading. This has facilitated the rise of FX brokers, entities offering an online platform for retail and institutional investors to trade foreign currencies. Our Forex CRM allows you to access all your client data whenever you need to.
A record of broker-wise details of deals put through and brokerage paid, should be maintained. The Deal Slips should be serially numbered and controlled separately to ensure that each deal slip has been properly accounted for. With effect from 1st April, 2003, all Government Securities transactions (both outright and Rego) are being settled compulsorily through Clearing Corporation of India Ltd. (CCIL) only. Securities for settlement by the banks outside the NDS-CCIL system are not being entertained by Reserve Bank of India since that date.
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