10 March 2022

Every FX Client Deserves More

FX sales teams know their top revenue generating customers really well, they're the first call when market movements warrant it. But what if a client is not in that top tier? How many opportunities to add value do you miss every day? How do you surface every opportunity, for every client, at the right time?

You and your team are responsible for FX sales and have many customers in your portfolio. The FX market has seen some significant moves overnight. Who you gonna call? Bill Murray isn’t helping. Your customers with FX exposure will appreciate some guidance. With vast numbers of customers having to be serviced by smaller staff numbers your team need the tools to support them when trying to manage ever increasing customer portfolios.

Every FX Client can be a big deal

Yes, your FX sales team will know their top revenue generating customers very well, they will have a strong relationship and be the first call when market movements warrant it. But what if they are already fully hedged? What about the smaller customers that are short on hedging and exposed to those adverse movements or could be taking advantage of the beneficial movements?

Market moves are not the only reason to get in touch with your customers. But you better be getting in touch at the right time because no-one needs to hear from you otherwise.

Market movements might mean that your customers can lock in their budget rate, or their FX exposure has just ramped up due to their sales outlook improving, or they are underhedged in the next quarter. All these are good reasons to be getting in touch with your customers to talk about hedging requirements. Not just the amount, but also the right product. Maybe there is some uncertainty around the uplift in forecasts so some optionality might be a more prudent way to hedge.

FX Sales need a Client Dashboard

A client dashboard should surface all that rich information so your FX sales team can actively engage with all of their customers, at the right time. Know who the top priority calls are for the day. Take a more consultative approach to FX sales. Hedgebook’s Client Dashboard is a real-time view that allows you to sort and filter through an abundance of customer information so opportunities for deal flow are not missed and your customers are pleased to hear from you.  You don’t waste your time, or theirs.

At a glance your sales team want to know their customers’ hedged position and be able to relate that directly to their business. How much headroom is available when considering hedging versus exposure or risk control limits? Given the amount of hedging in place, exposure and prevailing market rates can my customer achieve or outperform their budget rate? Imagine having all this information a few clicks away before drilling down into that customer’s position for deeper insights and pulling together meaningful trade ideas to share with the customer.

We understand banks are less focused on the revenue generated from a customer. There is much more emphasis on customer satisfaction. Hedgebook’s Client Dashboard helps achieve both.

Better than a crystal ball

Gone are the days when FX sales can only talk about the financial markets. Of course you will have a view on where the market might go, the upcoming influences such as central bank decisions or economic updates. It’s not enough. Your crystal ball is no better than that other bank down the road. Your team need to be in the shoes of your customers and you have a lot of shoes to fill.

Sounds interesting? Get in touch for a personal dashboard demo or you might want to take a look at Five Reasons Why FX Sales Desks Need a Client Dashboard

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