Transferbank, one of the main international payment and receipt platforms in Brazil, launched the Exchange Guide, the first Artificial Intelligence (AI) aimed at optimizing currency operations in the country. The tool promises to increase the efficiency of financial institutions, respecting Brazilian legislation
In Brazil, currency exchange operations can only be carried out by institutions authorized by the Central Bank (Bacen). Each international transaction needs to be classified with a specific code to ensure legal compliance. The Exchange Guide was developed to simplify this process, allowing banks, brokerages and other companies quickly consult the ratings, required documentation and the regulatory basis
Luiz Felipe Bazzo, CEO of Transferbank, highlights that the new tool is a great ally in the operationalization of buying and selling foreign currencies. Technology offers a significant benefit to the national financial market, that still faces challenges with complex manual processes and high bureaucracy, especially regarding compliance decisions, affirms
Although the New Legal Framework for Exchange defines that the indication of the classification code is the responsibility of the client, the complexity of the process still requires technical support. The Exchange Guide helps financial institutions streamline this service, allowing inquiries of all classifications defined by Bacen, either by navigation or search through the description, object of the operation or code. The platform suggests the necessary documentation and informs about the applicable taxes
The tool also includes an interactive chat with Generative AI, that allows customers to ask questions about legislation, taxes and regulations. Users can input real scenarios of currency activities to receive recommendations on which purpose to use
Rafagan Abreu, CTO of Transferbank, highlights that the platform is "completely intuitive". The system offers a user-friendly and easy-to-use interface, anchored in an advanced database to bring more security and efficiency to different types of currency exchange operations, explain
The Exchange Guide is already integrated with Transferbank's exchange platform and its white label versions, serving clients like Mirae Asset, Golden Brokerage, Map Exchange and Nord Investments. The solution offers a personalized experience, maintaining the visual identity of the brands, and it has banks as its target audience, brokers, multi-family offices and independent investment advisory firms, how the accredited to XP and BTG. Each office has a unique link for currency registration, ensuring that all clients are properly tracked and associated with the office and the specific advisor
With the arrival of the Exchange Guide, the Brazilian foreign exchange market is expected to undergo significant changes in the coming years. For the CEO of Transferbank, the professionalization of the sector with new technologies and solutions that streamline foreign exchange operations are the main trends
Innovative platforms like this bring smart resources to reduce costs related to mechanical tasks, whether regarding potential human errors or training, reinforces Bazzo. "The digitization of the segment represents an important step towards the 'currency of the future'", that involves making quick and accurate decisions, concludes
