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FNB and RMB continue to lead the pack as Africa’s Best Foreign Exchange Providers

20 February 2024 FNB
Sizwe Nxedlana

Sizwe Nxedlana

Devan Naidoo

Devan Naidoo

FNB and RMB have jointly been recognised as Africa’s Best Foreign Exchange Providers at the 24th annual World's Best Foreign Exchange Provider awards, held by Global Finance. In addition, RMB Namibia was announced as the Best Foreign Exchange Bank in the country as part of the Gordon Platt Foreign Exchange Awards.

These awards celebrate market excellence and innovation in foreign exchange banking services, with the winners selected from 87 countries and seven global regions, looking into the best banks for corporate currency hedging, the best online FX platforms and the best providers of FX research.

Both FNB and RMB have enabled foreign exchange transactions and cross-border payments through their unified foreign exchange process which provides clients with a variety of solutions for their individual and institutional needs. This includes intuitive screen flows, pre-populated fields, and the ability to save transactions for later completion; documents can also be uploaded with transactions.

Sizwe Nxedlana, FNB Private Segment CEO, says, "These accolades continue to cement our position as the leading platform-based foreign exchange service provider on the continent; and attests to our businesses being on the right path to offer clients a trusted platform with digital interfaces that are user-friendly and safe. Over the years we have made sizeable investments into constantly integrating advanced technology into our platform-based business which has allowed us to transform the FX landscape and, more importantly, the FX experience of all our individual and business clients in recent years.”

“In addition, our accomplishments are also due to our ability to leverage big data and modern technologies to deliver contextual solutions, as well as understanding our clients’ foreign exchange needs to effectively empower them to meet their currency needs, optimise their personal or business cashflows, mitigate their risks and confidently navigate global market volatility.” adds Nxedlana.

Devan Naidoo, COO of Foreign Exchange at FNB and RMB says, “We would like to thank our clients for their ongoing support and Global Finance for this honour. We are devoted to providing tailored solutions that align with our client's aspirations through our advice-led solutions. Being recognised as the leader in foreign exchange solutions for eight years in a row is a remarkable accomplishment."

In addition, these accolades add to several significant awards that both FNB and RMB have received in the past few years including the Best FX Tech Global Award at Global Finance's second annual FX Tech Awards in 2023.

Recently, FNB's Global Account Virtual Card on the FNB App has provided clients with a safer and more convenient way of making payments when abroad. Customers can now effortlessly add their Global Virtual Cards to their individual digital wallets to conduct international transactions in several foreign currencies.

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