Malaysia-based RHB Banking Group has launched a new digital foreign exchange service for its corporate and small and medium-sized enterprise (SMEs) customers, media report said.
The new service launched by RHB Banking Group is called RHB Live FX @Reflex.
The bank offers foreign exchange rates that can be executed in real-time and facilitates seamless end-to-end processing of spot and forward transactions.
With regard to the launch of the new digital foreign exchange services, RHB Banking Group managing director Datuk Khairussaleh Ramli told the media, “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 by 20 percent by 2022,” he added.
Earlier this week, RHB Banking Group appointed Wong Kee Poh as its chief executive officer for its Cambodia unit and Piyanat Aranyakasemsuke as its CEO for its Thailand unit, both effective September 1, 2020.
The bank’s net profit fell by 34.9 percent to RM400.77 million in the second quarter of this year. The drop in net profit is attributed to the one-off net modification loss of around RM392.4 million.