WTC Delaware Partners w/ Bannockburn Global Forex
Sep 28, 2021
Do you have overseas vendors, customers, subsidiaries or employees? Do you ever need to convert foreign payables or receivables? Do you have exposure to fluctuating exchange rates?
If you answered ‘yes’ to any of those questions, WTC Delaware, in partnership with Bannockburn Global Forex, could save you a significant amount of money.
Bannockburn Global Forex is a boutique capital markets trading form specializing in foreign currency advisory, hedge analytics and transaction processing for small and medium size businesses. They work with WTC Delaware, and twenty other WTCs in North America, to provide our members with a free health check of their current foreign currency cost and processes. The goal is to reduce costs by around 80% and make sure any existing risk is uncovered and mitigated.
“We are excited to offer this convenient, low-cost benefit for our members that don’t have a relationship with a financial institution that provides foreign exchange services which meet their international business needs,” said WTC Delaware President Carla Stone.
“Not only do companies receive better service but better pricing,” said Bannockburn’s Marketing Director Mehgan Flynn. “We’re a boutique, so we don’t have locations on every corner and all of the expenses that brings. The way we’re structured, we cut out the middleman and the high overhead, allowing us to provide much lower rates for our clients.” Bannockburn hopes to save members up to 75-80% of their annual foreign exchange costs, which can amount to considerable overall savings explained Flynn, who was previously the Executive Director of World Trade Center Kansas City.
Named by its founder after the famous Battle of Bannockburn portrayed in the movie, Braveheart and reflective of how “the little guy wins over the big guy,” according to Flynn, Bannockburn was founded in 2009 and has nine offices across the country with only twenty-three employees, therefore reducing the typical overhead costs that are factored in by larger financial institutions. Thus, they pass on this savings to their customers.
Bannockburn’s partners apply specialized experience to a broad industry and geographically diverse client base.
They focus on serving corporate clients that do between $1 million and $1 billion in EBITDA, providing free foreign exchange analyses which typically show they can save tens of thousands or even hundreds of thousands of dollars a year for each client—and they don’t charge any upfront advisory fees. They also provide “hedging” services for their clients which enables them to set an annual foreign exchange budget and not worry about the forex markets, allowing them to focus on what they do best. Part of the value they bring to the table is keeping clients informed on market moving events – things happening globally that may affect the value of certain currencies.
As a WTC Delaware member, you have access to Bannockburn’s Managing Director and Chief Market Strategist, Marc Chandler, who is a prolific author and speaker, appearing regularly in the financial media. Chandler is often quoted in the Financial Times, the Wall Street Journal, Barron’s, Bloomberg, and the Washington Post, among others. Marc also provides his insights and commentary on the markets on the most widely watched financial news channels, including CNBC, Bloomberg TV, CNN, and Fox. If you would like to visit with Marc Chandler, or to receive a health check on your currency processes, please reach out to firstname.lastname@example.org