The full range of risk management solutions today are designed for businesses of every size, engaged in cross-border trade. The Western Union Business Solutions risk management solutions include a range of forwards to help small and medium sized businesses. For example, companies can now lock in a current exchange rate for a set period of time and flexible forwards, also known as currency options. This will allow them to effectively manage risk while taking advantage of positive changes in market exchange rates.
The addition of these risk management solutions provide protection against adverse market developments while giving businesses the opportunity to participate in favourable moves, usually for zero cost. The combination of flexible forwards and FX intelligence supports Western Union Business Solutions’ vision for a simple and cost effective way of making international payments.
"By offering a full suite of risk management solutions to small and medium-sized enterprises (SMEs), we can help businesses execute a simple but effective risk management plan with the right combination of risk management solutions to protect against currency volatility and ultimately support business growth," said Tony Crivelli, Vice President, UK & EMEA Western Union Business Solutions.
"SMEs face many challenges when making international payments that can have a negative impact on their bottom line. This causes difficulty in forecasting cash requirements, and puts their profit margins at risk," added Jitka Kunstová, Czech Country Manager, Western Union Business Solutions. "The introduction of flexible forwards will support business development and reduce risk of foreign payables and receivables."
Currency Options in the Czech Republic will be sold by Western Union Business Solutions through Western Union’s wholly owned subsidiary, Western Union International Bank GmbH, organizacní složka. Western Union Business Solutions now offers Currency Option products in the UK, Australia, New Zealand, Singapore, Canada, United States of America, Austria, Germany, and France.
