This innovative solution is set to deliver significant cost and operational efficiencies, making it an essential tool for international businesses navigating the complexities of local transactions.

Tony Tsou, head of Liquidity Product Management, Asia Pacific, said: “Our consistent investment into our capabilities and products means we are able to deliver state-of-the-art financial solutions that meet the evolving needs of our clients. ACCS is supported across 10 locations, including key locations such as Australia, Hong Kong and Singapore, and has the ability to convert up to 14 currencies domestically or across borders.”

ACCS automates the conversion of funds, allowing businesses to invoice and collect in one currency while settling payment obligations in another. Once payment cut-offs have been reached, ACCS calculates how much money is needed to top up the local currency account. It then automatically exchanges the necessary amount at the best available rates. Once the local currency needs are covered, any excess in the client’s functional currency can be redeployed or invested in international markets. This end-to-end automation reduces risk of human error, enhances liquidity and risk management, extends operating hours and enables smarter conversion.

“By simplifying currency management, we are supporting businesses to operate more efficiently and effectively in today’s dynamic global marketplace,” said Paul van Sint Fiet, head of Cross-Currency Solutions, Asia Pacific. “ACCS is already providing significant benefits with regards to currency needs, while meeting critical payment obligations.”