Comprehensive FX management integrates tools, analytics, and AI to mitigate currency risks.
A comprehensive foreign exchange (FX) exposure management strategy combines tools and techniques to identify, measure, and manage currency risks, empowering businesses to confidently navigate the complexities of the global marketplace.
GTreasury is our award winner as Best TMS Provider with FX Module. Sandra Koch, vice president of risk solutions, says a holistic FX management strategy also relies heavily on accurate data and analytics.
PwC data shows that “62% of companies that successfully mitigated FX risk credited having an integrated approach that brought exposure identification, risk assessment, and hedging under one system,” Koch says. “GTreasury’s FX solution achieves this by giving treasury teams the power to consolidate exposure data, automate risk assessments, and execute effective hedging strategies, all from one cohesive interface.”
Investec, the Best FX Trading Platform award winner, deploys an FX analytics tool within its Investec ix platform that empowers clients to evaluate their exposure, identifying risks and opportunities. An FX hedging analytics tool further supports clients in assessing the comprehensiveness of their hedges—giving clients full control and oversight across Investec-held positions as well as positions not held by Investec.
Citi Velocity is the winner of three awards—Best End-to-End Processing, Best Data and Analytics Platform, and Best Big Picture View of Positions—and provides extensive data coverage including a wide range of market data, including equities, fixed income, currencies, commodities, and derivatives. An advanced analytics tool such as this can help users gain deeper insights into market trends and make better-informed investment decisions. Users can also customize their workspaces to suit their specific needs and preferences.
“Clients continue to look for ways to optimize their execution and how they source liquidity,” explains Ayesa Latif, global head of FX products at Citi. “They demand fully integrated workflow solutions with real-time pre- to post-trade information to enhance their decision-making. Investment in our technology and architecture remains our key priority as we endeavor to meet our clients’ complex needs through simple, elegant solutions.”
Algorithms using artificial intelligence (AI) and machine learning execute trades at optimal times while analyzing historical data to identify patterns and make informed decisions.
DBS, a double award winner as Most Innovative Bank for FX as well as for Best AI/Machine Learning FX Tool, first deployed an AI and machine learning hyper-personalization tool across its treasury and markets businesses. The service, called Hi-P, aids the bank’s corporate sales team in the engagement of many customers at scale—providing personalized recommendations based on individuals’ profiles and needs. Hi-P also delivers deviation monitoring, dispatching push notifications if a customer’s behavior falls outside a predefined range.
LSEG (formerly Refinitiv) wins for Best Data and Analytics FX Instrument. LSEG boasts a comprehensive data and analytics platform for financial professionals. It includes powerful analytics tools and customizable workspaces, with extensive data coverage across all asset classes, including FX.
In April, Bloomberg—winner as Best ESG Investment Research Provider—launched a sustainability screening tool on the Bloomberg Terminal that enables investors to input their own precise thresholds from three categories: sustainability targets, exclusion or “no harm” criteria, and good governance requirements. Based on Bloomberg’s extensive range of company ESG data, proprietary metrics and scores, it calculates a percentage figure that reveals how much of the portfolio, fund, or index is aligned with the user’s criteria. The tool provides a detailed list view of all holdings, to detect outliers.
J.P. Morgan, which takes home both the Best Execution Algorithms and the Best DeFi Crypto FX Platform awards, employs innovative technologies to execute trades efficiently and effectively. This includes the Kinexys by J.P. Morgan unit (formerly Onyx), focused on tokenization and blockchain. Over several years, Kinexys collaborated on the Project Guardian pilot, an industry initiative led by the Monetary Authority of Singapore to explore the use of fund and asset tokenization. Two years ago, J.P. Morgan executed the first live DeFi cross-currency trade on a public blockchain (Singapore dollars/Japanese yen).
Naveen Mallela, global co-head of Kinexys by J.P. Morgan, says tokenization is transforming recordkeeping. “It’s less about the assets and currencies; it is about introducing newer bookkeeping systems. In essence, it is about introducing digital programmable ledgers,” he says.
Kinexys Digital Payments is now integrating with J.P. Morgan FX Services to enable FX settlement on blockchain, initially in US dollars and euros, with plans to expand to more currencies. As early as the first quarter of 2025, clients will be able to execute nearly real-time FX transactions and settlements by connecting to J.P. Morgan’s global FX platform, reducing FX settlement risk and accelerating trade settlements.
Most Innovative Non-Bank for FX and also Best FX for Payments Solution winner, Corpay Cross-Border Solutions provides support for a range of payment needs, from small remittances to significant sums required to complete mergers and acquistions transactions. Recent bespoke solutions have been developed for specific business verticals including funds, financial institutions, education, renewables, and sports and entertainment. Other customizable solutions include a white-label option that allows partners to offer Corpay’s fully integrated payment engine solution, delivered via application programming interface.
BBVA, which wins two awards, for Best Bank Digital FX Platform (Overall) and Best FX Solution for SMEs, has created different FX platforms to suit the diverse needs of both wholesale and retail customers. An app tailor-made for SMEs (small and midsize enterprises) is currently available in Peru, Colombia, Spain, and Mexico. The app helps these businesses to hedge their FX exposure, order international transfers, and receive FX market alerts, with a user experience (UX) focused on the user’s habits and needs. “At BBVA, we consider the SME customer segment to be key and with huge potential,” states Luis Martins, head of Global Macro at BBVA. “Therefore we have made the FX product available on an international platform, with the objective of having a global and best-in-class UX for our SME clients.”
Cloud-based solutions bring both scalability and accessibility to FX. MUFG Investor Services, which wins the Best FX Trading Solution award, offers a fully automated, flexible and cloud-based solution that provides an outsourced, nondiscretionary, rules-based hedging service to help clients mitigate FX exposures within a portfolio or hedged share classes.
Kyriba, our winner for Best Cloud Technology FX Solution, provides a comprehensive cloud-based treasury management platform with strong FX capabilities and advanced tools for analytics and reporting.
FIS Global, which wins for Best FX Regtech Tool, developed Investment Risk Manager. The tool provides a holistic view of cross-asset trading, portfolio management, and investment risk. FIS Trading Compliance Manager presents a comprehensive view of an order life cycle, meeting all trading compliance needs in one solution.
Technology has revolutionized the way businesses manage currency risk. In 2025, expect to see more-advanced forecasting tools, such as AI-powered analysis of vast amounts of data in order to predict future currency movements more accurately, and the modeling of different economic scenarios to assess potential risks and opportunities.
Real-time monitoring and alert systems will continue helping to identify potential risks and opportunities and enhance decision-making while automated hedging and advanced hedging techniques using algorithms to execute hedging strategies automatically will enable sophisticated strategies using options and futures for management of complex risk profiles.
Blockchain will grow in popularity for providing security and transparency of cross-border payments, while automated smart contracts will reduce the risk of errors and delays in contract execution and payment processing.
Increased volatility due to geopolitical tensions, economic uncertainties, and central bank policy shifts will continue to play a significant role in shaping FX markets and impacting currency valuations. Applying advanced technologies such as AI and machine learning, to improve decision-making and risk management, will be the key to navigating such challenges.
| FX Tech Global Winners 2025 | |
|---|---|
| Best Bank Digital FX Platform (Overall) | BBVA |
| Most Innovative Bank for FX | DBS |
| Most Innovative Non-Bank for FX | Corpay Cross-Border Solutions |
| Best FX Trading Platform | Investec |
| Best Cloud Technology FX Solution | Kyriba |
| Best AI/Machine Learning FX Tool | DBS |
| Best Execution Algorithms | J.P. Morgan |
| Best TMS Provider with FX Module | GTreasury |
| Best FX Regtech Tool | FIS Global |
| Best Data and Analytics FX Instrument | LSEG (formerly Refinitiv) |
| Best FX Solution for SMEs | BBVA |
| Best ESG Investment Research Provider | Bloomberg |
| Best FX for Payments Solution | Corpay Cross-Border Solutions |
| Best System for Assessing Risk and Hedging Strategy |
GTreasury |
| Best End-to-End Processing | Citi Velocity |
| Best FX Trading Solution | MUFG Investor Services |
| Best Data and Analytics Platform | Citi Velocity |
| Best Big Picture View of Positions | Citi Velocity |
| Best DeFi Crypto FX Platform | J.P. Morgan |
