Banks aim to reach more Asia FX clients with Symphony/WeChat app

Main benefit of Symphony on WeChat is ease of communication on a platform traders use regularly, says BNPP

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People power: participating banks expect to reach more FX clients in Asia with a Symphony/WeChat partnership

Participating banks are expecting to reach more foreign exchange clients in Asia with a Symphony/WeChat partnership, which allows users to communicate in real time within a regulatory compliant framework.

Symphony, a financial market messaging services provider, launched an application within Chinese app WeChat in November 2019.

Four banks – BNP Paribas, Citi, Deutsche Bank and Goldman Sachs – have started offering pre-trade services such as RMB exchange rates via WeChat. The collaboration

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