Regulatory compliance and a 95% reduction in time spent on manual tasks. Learn how Travelex Group, a global leader in foreign exchange, achieved these results!
Processes managed by Dattos technology
- Foreign currency buy and sell operations in cash and international transfers
- Accounts in local and foreign currencies
- Exchange rates
About
O Grupo Travelex is a global leader in foreign exchange, with a presence in more than 20 countries. It is represented by Travelex Bank — the first bank exclusively dedicated to foreign exchange operations in the country — and by the brokerage firm Travelex Confidence.
The company moves millions in local and foreign currencies, leading strategic foreign exchange operations for tourism, foreign trade, and international financial transactions.
Operating in a highly demanding sector, Travelex Group is a benchmark in robustness, accuracy, and security.
Objective
In a highly regulated environment like the foreign exchange market, Travelex Group needs to ensure that all its operations — involving high volumes and multiple currencies — are accurately reflected in its internal systems, guaranteeing traceability and compliance with the requirements of the Central Bank.
Thus, the complexity lies not only in the volume, but also in the level of control required over each transaction, especially given obligations such as submitting foreign currency position reports, monitoring exchange rate fluctuations, and making periodic regulatory transfers.
The mission of Travelex Group, when turning to Dattos, the goal was clear: to automate as many reconciliation routines as possible, gain agility in data processing, and ensure regulatory compliance with complete security and autonomy for the team.
Challenges
Meet strict Central Bank requirements with security and precision
Handle high transaction volumes without compromising data reliability
Increase process efficiency to avoid financial losses, regulatory issues, and reputational risks
Solution
With Dattos, more than 20 reconciliation routines were put in place to fully cover the foreign currency trading cycle.
The platform began to receive data from all transactions, integrated across multiple systems, and reconcile them with accounting records, ensuring that balances in local and foreign currencies, as well as rates and fees, were correctly allocated to the appropriate accounts.
Inconsistencies began to be quickly identified, preventing operational risks, financial losses, and audit findings.
The result was a more efficient and reliable operation, fully aligned with Central Bank requirements, all while giving the finance team greater autonomy to operate with precision and agility.
Customer Testimonial
Results
Guaranteed compliance with the Central Bank and fully auditable data
95% time savings on reconciliations, reducing from 160 to 6.7 hours/month
98% time savings in reconciliation processing
Full team autonomy, with no dependency on technical knowledge
Prevention of financial losses through rapid detection of inconsistencies in charges and transfers
