Case Study: Top 100 US Financial Institution streamlines international wires and boosts revenue with Currency Exchange International

How this financial institution improved their international wires operations once they switched over to CXI

A state-chartered commercial bank in Massachusetts with over $8 billion in assets was facing a very manual and lengthy process for sending international wires. Seeking to increase fee income and improve customer service efficiency, the financial institution partnered with Currency Exchange International (CXI) to find a modernized solution for its international payments service.

Currency Exchange International implemented its proprietary CXIFX online platform, providing the bank with a single, streamlined system for initiating, tracking, and managing international wires. The solution automated manual work, integrated compliance checks, and provided real-time reporting. As a result, the bank's international wire revenue increased by 125% after three years, with the annual number of transactions exceeding 2,000 and the total volume sent surpassing $14 million, more than doubling its previous performance.