CXIFX provides a multi-tier international wire transfer platform that utilizes CXI's network of wire correspondents.
Access to the CXI system gives banks and credit unions a secure and easy-to-use international wire platform that is compliant with Dodd-Frank Regulation E and all Patriot Act BSA Regulations.
Financial institutions everywhere can enhance their current wire offering by switching or starting international wires with CXI.
Why is CXI the best provider for International Wire Payments?
International Wire Payments Features:
With the ability to send international wires to more than 100 countries around the world, foreign denominated wires are an expansive payment option and the preferred way for many personal and business accounts.
Sending wires in the local currency means rates are known ahead of time and not determined by the receiving financial institution, which can save both time and money.
- The CXIFX international wire platform is built with complete Dodd-Frank Regulation E integration, so your financial institution can easily comply with the consumer protection rights as it relates to foreign payments.
- With a simple three-step process, prompted by the software, wire preparers are guided into sending international wires either as a Dodd-Frank wire or a standard wire.
- Dodd-Frank wires include all required information such as Date of Funds Available, Transfer Amounts, Other Fees, and Total to Beneficiary, and error resolution and cancellation rights to the wire sender on their receipt.
- White-labeled international wire transfer interface.
- Simplified Dodd-Frank Reg E wire process automates how a wire is sent.
- Integration into core banking software reduces multiple entries.
- Repetitive customer templates save repeat customers and accounts within the system for convenience and accuracy.
- SWIFT dictionary integration helps search for or confirm entry information provided by wire originator.
- Live email notifications for transaction status updates.
- Journal records track the history of each international wire transfer.
- Multi-tier approval system allows the financial institution to determine the approval process that best fits its needs.
- Wide variety of user roles and permissions within the multi-tier international wire system.
- Customized thresholds (daily and per wire) for each user controls the amount any one user can prepare, approve, or release.
- Increase accountability and security with multi-factor authentication.
- Customizable and "build your own" compliance reports provide access to view detailed information.
- Export reports to common file types.
- Live OFAC screening lets you know that transactions have been checked at the time of entry and allows compliance teams to review any matches prior to releasing the international wire.
- Heighten network security by limiting where the system can be accessed from to keep transactions secure and deter any breach attempts.
Testimonials
We have outsourced our FX business and don't have a thing to worry about. We know it is done right and they make the client experience very pleasant. The onboarding experience with CXI was smooth. They were timely, professional, and excellent communicators. CXI is top of the bill when it comes to my satisfaction.
Donald Lloyd, SVP Head of Capital Markets at Associated Bank
CXI makes the ordering process very easy. We rarely need customer service but if we do, they are very responsive if we have any issues or questions. I highly recommend CXI, we have been using them for years!
Beverly Malvitch, Assistant Vice President at Winchester Savings Bank
Century Bank has been a long time customer of CXI and have enjoyed the incredible service that the CXI team provides. They are able to provide competitive rates and superior service all while providing extraordinary service. They are a great partner to expand your offerings.
William Gambon, Senior Vice President at Century Bank