Business FX Clients Are on the Move Are They Leaving You Behind?

More than 30% of SMEs and commercial businesses have switched FX providers in the last six months. Are your clients staying, or are they exploring new options?

• CBA has overtaken ANZ as the leader in SME Spot FX.

• Fintech challengers like Wise & OFX are gaining ground but struggle to win full-scale business relationships.

• Hedging demand is evolving – FX Options use continues to fall away, while Forward FX engagement is hitting record highs.

With wallet share shrinking and multibanking increasing, now is the time to reinforce your client relationships and optimise FX product strategies.

Talk to us now and defend market share, improve retention, and capture high-value FX flows

All insights are from East & Partners’ Australia Business FX service, 2024