Warba Bank has made impressive strides in its provision of institutional FX services to the local market, focusing on innovation, automation and client-centric financial solutions.
Warba Bank’s market strategy lies in its automation solutions, which set it apart from competitors. The bank’s automated systems allow clients to carry out transactions automatically, thanks to comprehensive automation integration across different platforms and channels.
During the review period, the bank concentrated its effort on further streamlining its processes.
One area of focus was on the implementation of the international standard Financial Information eXchange (FIX) protocol across all of its client-facing online channels and core banking systems. The protocol is expected to fully customize its quotation methods, providing clients with competitive margins and real-time quotes at any time. Another benefit of the protocol is the facilitation of round-the-clock back-to-back FX coverage, boosting the bank’s operational efficiency and response times.
Another fruitful effort saw Warba Bank implement its electronic trading platform offering live rates and automated execution and settling FX transactions.