A holistic approach to foreign exchange and global payments

Virtual IBANs

Virtual IBANs remove reconciliation and processing friction for inbound FX payments for both financial institutions and their customers. FxOffice enables automation to seamlessly receive incoming payments directly into customer multicurrency virtual accounts.

FxOffice allows financial institutions to offer their customers virtual IBANs from one or multiple underlying banks or providers. The platform leverages built-in API (or file connectivity) to completely automate the receipt of funds and track respective balances of each customers' currency account thereby streamlining back-office operations.

Solve Your Customers' Treasury Friction

As global commerce and B2B payments expand across borders and currencies, virtual IBANs can pave the way for your customers to automate international FX collections and carry balances in various currencies. FxOffice makes cross-border collections processes seamless by modernizing day-to-day back-office operations across borders and currencies for both financial institutions and their customers.

Virtual IBANs Key Features

  • Provide customers multi-currency, multi-jurisdictional banking
  • Delineate customer inbound FX receivables transactional data
  • Full automation of funds received into virtual IBAN
  • FxOffice persistently reconciles virtual IBAN balances
  • Engage one or multiple banks or virtual IBAN providers

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Datasoft FxOffice is a foreign exchange and global payments software platform that offers financial institutions a completely integrated forex, treasury, compliance and payments platform.