HOW A SPECIALIZED EXCHANGE BANK FACILITATES YOUR COMPANY’S ENTRY INTO THE BRAZILIAN MARKET

Expanding its international relationships is a natural development for a company, whether in times of crisis or opportunity. It is never a simple task though, as international expansion requires investment and knowledge about the segment in which your company operates, the peculiarities of the targeted market including regulatory aspects and client behavior, demand and profile, what can be provided by a specilized bank. In case of Brazil, in 2019 the country occupied the fourth position among the leading destinations for foreign investment in the world. During that period, the country received US$ 75 billion in foreign assets, which reflects an increase of more than 26% over 2018, according to the report released by the United Nations Conference on Trade and Development (Unctad).

In 2021, foreign investment in the country represented US$ 58 billion, expressive growth in comparison with 2020, which was US$ 28 billion, as released by Unctad. The Ministry of Economy expects these investments to accelerate in the second half and to reach US$ 60 billion by the end of the year, reaching a growth of 76% in Foreign Direct Investments (FDI) compared to the previous year.

Investing in Brazil requires transfer of funds and register of any capital transactions, involving cross border transactions. The register of these transactions could be of an elevated complexity, which is why a bank specialized in FX makes a difference for your company providing expertise and reliability when it comes to operate in the Brazilian market. This article introduces Travelex Bank, the largest foreign FX specialist in Brazil, its products and solutions designed to support your enterprise expanding into Brazil and doing business in the country.    

About Travelex Bank

Travelex Bank, founded in 2010, is the first foreign exchange bank in Brazil, which means it is the first financial institution specialized in and operating only in foreign currency exchange fully licensed by Central Bank of Brazil. Travelex Bank is a specialist bank that offers operating efficiency, product and regulatory expertise combined with recognized advisory capacity to assist clients with the safe conduct of their transactions and development of solutions, all of that at competitive rates.

Travelex Banks’ differentials

The bank offers a complete product suite for international payments, foreign trade, capital investment, and other specific products, such as batch transactions for remittance companies and payment facilitators, leveraging Travelex Bank‘s capillarity. “The bank grew with the focus on delivering the best solutions in the foreign exchange market, for both corporate and private customers. Today, we are expanding our operations, working with foreign companies that want to bring their businesses to Brazil”, says Paulo Marcos, Commercial Director of Travelex Bank.

Specific Knowledge

The bank’s unique foreign exchange expertise in the Brazilian market ensures an advisory capacity that makes a difference for your company’s business. According to Paulo, the specialized assistance provides a better operating environment, identifying the most opportune moment for doing transactions with customized solutions, which mitigates risks, costs, and taxes on the final transaction value. “We want our customers to have access to a complete service that fully understands the needs of each business and, at the same time, an outstanding experience, both physically and digitally”, concludes Paulo.

100% Personal

The team of highly experienced FX specialists is a clear differential in the market. The bank offers a bilingual and multichannel service available on its different platforms. All solutions are designed according to the customer’s needs, guaranteeing a personalized service close to the client.

Tailor Made Solutions

Travelex Bank has solutions that meet the most diverse foreign exchange needs and the experience of specialists who have extensive knowledge of the market peculiarities and the quite specific local regulatory framework. For foreign trade companies starting negotiations with new suppliers or buyers in Brazil, Travelex Bank offers products such as Letter of Credit and Documentary Collections, turning international export or import commodity operations easy but safe. More complex, not day-to-day transactions such as the payment of dividends and royalties or capital transfers our specialists handle with focus on the diligence with the regulatory requirements. For international payment facilitators and remittance companies the bank offers a state-of-the-art technology platform and highly efficient performance with the Compliance and AML Risk Assessment required by the local Authorities.

“We were recently at the International Money Transfer & Payments Conferences (IMTC), the largest remittance event in the world. There has been an overwhelming audience because of the strong interest in the Brazilian market and we have the capability and expert knowledge to support these companies in growing their businesses with safety and reliability,” says Paulo.

100% Digital

Travelex Bank offers an Internet Banking platform enabling clients to register FX transactions of up to US$ 300,000 digitally. The platform is accessible from any country worldwide once the responsible relationship manager has established access.

Travelex Bank at glance

Compared to the prior year, in 2021 the FX volume in US$ negotiated by the Bank in the Primary Market grow significantly by 80%, according to the ranking provided by the Central Bank of Brazil. The volume of the inbound cross border transfers increased by 50% compared to 2020, which proofs the relevant role of the bank in the local FX markets.

In addition to increasing its operations with foreign clients, Travelex Bank intends to expand the bank’s physical presence abroad as well. “We intend to expand our commercial presence in Miami and London in 2022 and 2023. We are studying the market and our options to action this”, concludes Paulo Marcos.

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