ALT21 Partners with Temenos to Bring Automated FX Hedging Solutions to Banks Globally

ALT21, (previously AssureHedge) a leading provider of hedging and cross-border payment technology, today announced the integration of its BankHedgeTM solution with the Temenos banking platform, making it available to banks worldwide through the Temenos Exchange ecosystem.

BankHedge is a cloud-native solution designed to help banks provide their SME clients with digital FX hedging and multi-currency payment services in a transparent, user-friendly, and cost-effective manner. The integration with Temenos enables banks to automate their FX hedging processes, including settlements, and offer seamless multi-currency management experiences to SMEs through a simple, 24/7 self-service interface.

SMEs often face high costs, complexity, and risks associated with foreign exchange and currency exposure, which can significantly impact their revenue and profits. Despite recognizing the importance of having a foreign currency strategy, the majority of SMEs still do not use FX hedging services, representing a largely underserved market. BankHedge empowers banks to address this gap, expand their SME banking offering, and tap into new market segments and revenue streams with low customer acquisition and servicing costs.

Since 2017, ALT21 has been developing advanced technology solutions for its FCA-regulated subsidiary, focusing on sophisticated multi-currency and FX hedging solutions tailored for SMEs and brokers. To drive mass adoption of FX hedging solutions among SMEs, the company has established a dedicated banking software division that provides cutting-edge technology to improve banks' end-to-end FX operations and services.

The collaboration between ALT21 and Temenos enables banks to access innovative solutions like BankHedge through the Temenos Exchange, leveraging the open platform for composable banking. This integration offers a nearly plug-and-play, universal solution that brings functional, technological, and commercial benefits to banks looking to introduce FX hedging and cross-border payment solutions to the market quickly and cost-effectively.

Pritesh Ruparel, CEO at ALT21, stated, “Our mission is to use technology to make financial services more accessible, transparent, and affordable for businesses worldwide. By partnering with Temenos, we are taking a strategic step towards becoming the preferred hedging solutions partner for banks in over 150 countries running on the Temenos platform.”