Verto has launched an Auto Exchange feature to help rate-sensitive customers secure their target foreign exchange (FX) rates without constant monitoring. Through this tool, customers can set their desired exchange rate and trade amount within the Verto platform and have automatic execution when the Verto rate reaches their specified level.
Recognising that many businesses prioritize achieving the most favorable exchange rates and often spend valuable time tracking market fluctuations, Auto Exchange provides a seamless and efficient solution. By automating the monitoring and execution process, Verto empowers customers to capture their target rates even when they are not actively logged into the platform. With this, they can optimise their time, while reducing missed opportunities.
“We’re thrilled to introduce Auto Exchange, a feature designed to bring both efficiency and peace of mind to our customers’ FX operations,” says Verto Product Director Tomasz Bilakiewicz. “No more constant refreshing or fear of missing a target rate. With Auto Exchange, businesses can set their parameters and trust Verto to execute automatically, allowing them to focus on what truly matters – growing their business.”
Why This Matters
For many African businesses, slight fluctuations in exchange rates can greatly impact profitability. This is especially the case for businesses in logistics, ecommerce, and fintech. With Auto Exchange, these businesses can hedge against unpredictability by automating the process. This will help reduce reliance on real-time manual tracking.
In many African countries, businesses transact in USD, EUR, or GBP while paying local staff or suppliers in KES, NGN, ZAR or XOF. In such cases, exchange rate precision can be the difference between profit and loss. Verto’s Auto Exchange helps address this issue head-on.
How Auto Exchange Works
Verto users can easily set up Auto Exchange orders within the platform by specifying:
- The currency pair for exchange.
- Their desired target exchange rate.
- The amount they wish to exchange.
- The direction of the exchange (e.g., GBP to USD).
The Verto Auto Exchange tool is perfect for:
- SMEs operating in multiple currencies.
- Freelancers or remote teams receiving international payments.
- Importers/exporters across Africa.
- Fintech platforms that rely on FX.
Verto users can access the Auto Exchange feature via the platform’s dashboard starting today here.
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Also Read: Verto Kenya’s Kevin Ng’ang’a on Simplifying Cross-Border Payments and Unlocking Trade Across Africa
