In the future, Swiss SMEs should be able to carry out foreign exchange transactions professionally and without complications, in real time or on schedule. According to an announcement, WIR Bank Genossenschaft is launching the FX Trading platform for this purpose. The bank's foreign exchange margin is independent of the amount of the transactions. "Even with small transactions, our customers trade at rates that other providers only apply to transactions of 250,000 francs or more," Matthias Pfeifer, Head of Private and Corporate Clients at WIR Bank, is quoted in the announcement. Customers can also make partial withdrawals in the case of futures transactions or adjust the value date retroactively.
WIR Bank cooperates with Amnis Treasury Services AG for this purpose. The Zurich-based Fintech company, founded in 2014, offers SMEs digital solutions for currency transactions. In 2019, more than 400 customers processed currency transactions amounting to 488 million Swiss francs via Amnis, 115 percent more than in the previous year.
Amnis now wants to expand internationally. According to an announcement in mid-April, the focus will be on its neighbours Germany, Austria and Italy. For this purpose Amnis has successfully completed a financing round with the Spicehouse Swiss Venture Fund based in Zug as lead investor. "Our goal is to gain a foothold in further core markets as quickly as possible with our solution", Michael Wüst, co-founder and CEO of Amnis, is quoted in the announcement.
