Romanian companies increasingly concerned with exchange rate risk

The Romanian office of iBanFirst, one of Europe's largest payment service providers (PSPs), has reported a 300% increase in risk management services provided to clients in the first month since the start of the conflict in Ukraine.

The number of SMEs that signed up to the platform (40) was roughly twice as high as a typical average month.

"One of our goals in the coming period is to support our clients to manage their currency risks through financial instruments tailored to individual business models. In addition to the business side, we have been involved in relocating business partners from Ukraine with their families and will continue to provide support to those in need of help," said Alin Latu, Country Manager iBanFirst Romania.

iBanFirst is a financial services provider that addresses the needs of SMEs, helping them grow internationally while simplifying their day-to-day operations.

As an alternative to traditional bank offerings, iBanFirst has developed a state-of-the-art online platform that allows companies to conduct fast, secure and cost-effective transactions in over 30 currencies and hedge their foreign exchange risks.

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