Biz4x Release 2.5: Upgrades to the Marketplace and Multi-Document Upload

The launch of the world's first wholesale banknotes trading marketplace on Biz4x was greeted with much enthusiasm and support by the money services business community. Aside from trading on the Marketplace, many of you have shared your thoughts and suggestions on how you think the Marketplace can be further improved. We've been working hard on implementing your feedback, and can now announce the upgrades to the Marketplace that we are unveiling this week with Biz4x version 2.5.

Marketplace

Bidding Period

As per your requests, we've extended the bidding period on each RFQ to a maximum of 30 minutes from the original 10 minutes. This will provide Receivers with more time to quote on these RFQs, and enable Senders to receive more Quotes before accepting or requesting the confirmation of a Quote.

Partial Fulfillment

Partial fulfillment is now supported by the Marketplace which means that Receivers can now choose to quote only for part of, rather than the entire amount requested by the Sender. Under the Create RFQ screen, Senders can select whether they want to accept quotes that only partially meet their requested amount - this is indicated by an open green lock icon at the right side of the Amount field. A red lock means that the Sender has specifically requested to receive only the Quotes that are able to fulfill the entire requested amount.

As seen in the example below, the Receiver has only quoted for half of the requested amount. When partial quotations are allowed, Receivers can specify the amount they want to provide a particular rate for.

Quote Validity

Receivers can now set their Quote to be valid for as long as the RFQ remains active on the dashboard, although they can still opt to allow their Quotes to expire after a certain time frame. However, as long as the RFQs remain active, Senders can request confirmation for Quotes that are no longer valid.

Notifications

During peak business hours, money services businesses can sometimes miss potential trading opportunities when notifications about new RFQs or Quotes are overlooked. As such, we've added a sound effect that is triggered each time an RFQ or Quote is sent . This will help alert money services business to waiting business opportunities on the Marketplace that they can respond to.

Business Management

Multi-Document Upload

Identification documents come in many different formats, and this latest release will allow tellers to upload more than one document type when recording a transaction or creating a customer. This means that a single customer record can have more than one document attached to it, such as a national identification card, passport or license.

Receipt

Custom receipts continue to very much be in demand among our customers, thus we have rolled out a new receipt that provides for a customer signature in this latest release. The receipt will only be available upon request though, so do get in touch with our team at support@biz4x.com if you'd like to use this with your customers.

That's it this week for our latest release - enjoy the newest upgrades to Biz4x and watch this space for more new features and innovations to come!