The new mobile application for businesses at Millennium Bank in Poland has been expanded to include Millennium Forex Trader – an FX platform whose users can independently conclude transactions on the currency market.
Millennium Forex Trader is an integrated, intuitive solution that allows online monitoring of current price levels for selected currency pairs and concluding transactions.
“Thanks to the platform, business owners have direct access to the international currency market and can react to the changing exchange rate situation on an ongoing basis, selling and buying currencies on their own on competitive terms. Importantly, it can be used by businesses of all sizes, including small ones with relatively low turnover. Millennium Forex Trader enjoys great popularity, currently over 70% of currency transactions are concluded via the platform. Concluding online transactions simplifies and shortens the time of operations, enables full control over their course as well as the business’s currency position, and obtains market transaction prices even for small denominations. It also saves time and minimizes service costs due to access to quotations directly from the interbank market. To sum up – online FX Exchange platforms are an extremely convenient tool for businesses conducting active trade with foreign partners,” – says Marcin Serafin, Director of the Treasury Department at Millennium Bank.
Every user who has access to the Millennium Forex Trader module in Millenet for Enterprises can simultaneously use its version in the mobile application. The application allows them to track changes in rates for selected currency pairs during the login session. Changes are presented on the screen in the form of colorful indicators showing the increase or decrease of the rate. The application user independently defines currency pairs and the default value date (transaction settlement), which will be visible after logging in to the platform.
The new mobile application was built from scratch using the best practices used by the Bank when creating solutions for retail customers. This application is also addressed to small business owners.
“Customers responded very positively to the new application, as evidenced by its results. Already every third company using Millenet for Enterprises has the application. And this number is growing every day,” – says Paweł Idzikowski, Head of the Corporate Banking Products Team in the Electronic Banking Department. “We are most pleased that as many as 90% of customers log in to the application and actively use it. It’s a huge success,” – he adds.
Since its release, the application has been continuously developed. The user can personalize the application according to his/her needs.
The application greatly facilitates the ordering of daily business payments. It informs the Bank`s business customers about inflows into the account, blocks, and payments awaiting authorization. A simple interface shortens the operation time. Users can immediately check your contractors on the white list of VAT taxpayers. Additionally, they can easily generate confirmations and statements in the application, which can be sent by e-mail or via phone messenger. Managing payments is simple, so users can authorize payments quickly and securely. There are two tiles on the main screen – authorization and rejected transfers, which allow business owners to handle these operations immediately. Payments that are waiting for authorization can be marked and confirmed by users with one click. One-click is also enough to accept the entire batch of orders. The application also ensures their safety when authorizing orders.
Source: the Bank`s press release dated December 07, 2023
