CaixaBank, which claims to be Spain’s “leading” financial institution, has launched FXNow, its online platform that enables customers to trade currencies “in real time, quickly, securely and without intermediaries, in Morocco.”
With the launch, CaixaBank claims it has become “the only Spanish bank in Morocco to combine international transfers made through online banking with online exchange-rate management services.” The FXNow platform has been adapted to the Moroccan market, “ensuring compliance with local regulatory requirements and accommodating different currencies trading, while maintaining its core advantages: its usability, with a user-friendly and convenient interface; agility, which enables transactions to be executed in just two clicks; and easy registration, whereby users can sign documents online.”
CaixaBank’s platform has become international “a year and a half after its launch in Spain.”
In the eighteen months since its launch in October 2020, over 15,000 transactions have been made on FXNow amounting to a total of €3 billion.” Following Morocco, CaixaBank plans “to launch the platform in other countries where the bank operates.”
FXNow Morocco was launched in the city of Casablanca “at an event held by the CaixaBank branch in Morocco for the Spanish-Moroccan business community and the Spanish Chamber of Commerce, Industry, and Navigation.”
The meeting was “attended by Alberto Carnero Fernández, Consul General of Spain in
Casablanca, Juan García Muñoz, President of the Spanish Chamber of Commerce of
Casablanca.
Also in attendance: Manuel Vicente Rodríguez, Economic and Commercial Director of the Spanish Embassy in Casablanca, and Razki Mounir, Director of Foreign Exchange and Currency Operations at the Central Bank of Morocco.
The new platform was presented “on behalf of CaixaBank by Carlos de Parias Halcón, CaixaBank’s Head of International Banking, Marí Camarasa Arroyo, CaixaBank’s Head of FX Sales and Ignacio Pino de la Chica, CaixaBank Country Manager in Morocco, accompanied by statements from CaixaBank’s customers who participated in the FXNow Morocco pilot test.”
The FXNow platform, which is freefor CaixaBank customers and an innovation in the Moroccan banking sector, “enables users to easily choose which currencies to buy and sell and to execute the transaction quickly online.”
FXNow also “allows users to view their historic transactions and displays them on various graphs detailing the evolution of the currency value.”
Users can set up the platform to suit their needs, “prioritizing the most relevant services and content.”
The platform “features advanced technical analysis tools to determine the best time to make a transaction, as well as a news section aggregating the most relevant information on market events.” FXNow has “a specialized support team to handle any queries that may arise during its use, guaranteeing full customer support.”