CaixaBank, Spain’s leading financial institution, has launched FXNow, its online platform that allows clients to trade currencies in real time, quickly, securely and without intermediaries, in Morocco,
With the launch, CaixaBank has become the only Spanish bank in Morocco to combine international transfers made through online banking services with online exchange rate management services.
The FXNow platform has been adapted to the Moroccan market, ensuring compliance with local regulatory requirements and allowing the trading of different currencies, while maintaining its main advantages: its ease of use, with a user-friendly and practical interface; agility, which allows transactions to be executed in just two clicks; and easy registration, where users can sign documents online.
The CaixaBank platform has gone international a year and a half after its launch in Spain. In the eighteen months since its launch in October 2020, more than 15,000 transactions have been made on FXNow for a total of 3 billion euros.
After Morocco, CaixaBank plans to launch the platform in other countries where the bank operates.
FXNow Morocco was launched today in the city of Casablanca at an event organized by the CaixaBank branch in Morocco for the Spanish-Moroccan business community and the Spanish Chamber of Commerce, Industry and Navigation.
The meeting took place in the presence of Alberto Carnero Fernández, Consul General of Spain in Casablanca, Juan García Muñoz, President of the Spanish Chamber of Commerce in Casablanca, Manuel Vicente Rodríguez, Economic and Commercial Director of the Embassy of Spain in Casablanca, and Razki Mounir, Director of Foreign Exchange and Currency Operations at the Central Bank of Morocco. The new platform was presented on behalf of CaixaBank by Carlos de Parias Halcón, Head of International Banking Operations of CaixaBank, María Camarasa Arroyo, Head of Currency Sales of CaixaBank and Ignacio Pino de la Chica, Country Director of CaixaBank Morocco , accompanied by statements from CaixaBank clients who participated in the pilot test of FXNow Morocco.
An innovative solution in Morocco
The FXNow platform, which is free for CaixaBank customers and a revolutionary innovation in the Moroccan banking sector, allows users to easily choose currencies to buy and sell and execute the transaction quickly online. FXNow also allows users to view their historical trades and display them on various charts detailing the evolution of the currency’s value. Users can configure the platform according to their needs, prioritizing the most relevant services and content.
In addition, the platform offers advanced technical analysis tools to determine the best time to make a trade, as well as a news section gathering the most relevant information on market events.
FXNow has a dedicated support team to handle any questions that may arise while using it, ensuring full customer support.
CaixaBank in Morocco
CaixaBank has had a banking license in Morocco since 2009, where it has three branches in the cities of Casablanca, Tangier and Agadir. From there, it offers foreign trade, investment banking and corporate banking services, both to Spanish companies already established in the country or those seeking to enter the Moroccan market, as well as to large companies and multinationals. Moroccan.
The entity has established itself as the bank of reference for Spanish companies operating in Morocco. According to ICEX data, around 60% of the 800 Spanish companies operating in the country are clients of a local branch of CaixaBank.