Web-based platform offers real-time rates and research insights
Empowers clients for informed decision-making
Stanbic Bank Botswana has heralded its web-based trading platform, E-market Trader, for providing clients with enhanced transparency in the foreign exchange market. Launched in 2019, the platform offers real-time, live-streaming capabilities, empowering users to seamlessly buy and sell foreign currencies.
E-market Trader goes beyond trading functionalities and services, featuring a dedicated research portal. This portal provides clients with comprehensive economic insights and it focuses on African markets and G10 currencies.
Stanbic Bank’s Global Markets Sales Manager, Kealeboga Spencer Matale, said the bank aims to enable informed decision-making among its clientele by providing platforms they can use for business opportunities.
“This is essential for you to meet your business needs,” Matale notes.
Acknowledging Botswana’s status as primarily an import-driven economy, particularly reliant on trade with South Africa, Matale emphasised the critical need for clients to readily access foreign currencies. In response to this demand, he said the Bank had to technologically advance its services to be more client centric, transitioning from the traditional model of rate inquiries via phone calls to the introduction of the E-market Trader platform.
Clients previously relied on the good faith of a dealer for exchange rate information and transactions, whilst the platform now ensures consistent services, transparency and a more automated functionality. This means customers now have a streamlined, digital avenue to access these real-time rates and reference numbers online.
“It gives clients the ability to see when the currency is more favourable so that you can purchase it at that time,” Matale said, adding that the Bank has shifted away from relying on human intervention alone. This ultimately makes the process more convenient for clients to conduct their business.
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