RHB launches digital forex service for corporate and SME customers

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KUALA LUMPUR (Sept 18): RHB Bank Bhd has launched the RHB Live FX @ Reflex, a digital foreign exchange (forex) service for corporate and small to medium enterprise (SME) customers that offers FX rates that can be executed real-time, with seamless end-to-end processing of spot and forward transactions.

In a statement, the bank said the new platform offers five main functions: Exchange Rate Inquiry, Indicative Forward Swap Points, FX Rate Booking, Contract Rate Inquiry and Booking Status Inquiry.

It said the new platform will enable its customers to monitor, book and execute their forex conversion and hedging transactions online, at their convenience.

It also allows customers to book online spot, forward and time options for 34 currency pairs, RHB said, adding this is the first and only digital platform among local banks in Malaysia that offer booking and early delivery or take up of forex forward contracts on one platform.

“RHB Live FX @ Reflex capitalises on technological transformation to deliver a customer-centric service targeted at seamless online distribution and processing of FX products and services, to provide our customers with greater value and convenience. Through this versatile platform, our Corporate and SME customers can actively manage their foreign currency exposure by accessing real-time foreign currency rates to monitor, book and execute FX transactions online

“RHB Live FX @ Reflex was developed to serve customers more efficiently and conveniently, and is projected to grow our Foreign Exchange volume 20% by 2022” said RHB Managing Director Datuk Khairussaleh Ramli.

RHB shares closed two sen or 0.42% higher at RM4.74 today, giving the group a market capitalisation of RM19 billion, after 3.05 million shares were traded.

Tan Choe Choe