Insight

How (and Why) Tempus Is Different From a Bank

Tempus is not a bank—and that’s by design. To be sure, banks play an essential role in the U.S. economy and global markets. But Tempus is different: We’re a highly specialized FX firm, licensed and bonded as a Money Service Business, offering a range of products and services to meet your foreign currency and international payment needs.

Our specialization gives us a deep bench of market experts recognized for their accurate currency forecasting even amidst the high volatility unleashed by the global pandemic. Our expertise supports bespoke risk management solutions and proactive customer service—and helps protect your profits.

Here’s how Tempus differs from a bank, and why that difference adds unique value to your business. 

Banks Aren’t Generalists

Banks typically offer an array of financial products and services: checking and savings accounts, debit and credit cards, loans, wire transfers, etc. The premise is to cover as many bases as possible for as many customers as possible. This approach has benefits. Banks are undoubtedly the best place for some services. And there’s convenience in offering a large menu.

But the downside to being a generalist is that it’s hard to be great at all things. Would you get heart surgery from your general physician? Of course not. So why use a bank for your business’ foreign exchange (FX) and cross-border payment needs? That’s not its specialty. 

For that reason, some banks outsource FX capabilities rather than develop them in-house. They’re unlikely to have client-facing FX experts who monitor currency markets. A typical bank doesn’t offer risk management solutions to businesses managing payments across global markets. Most importantly, a bank isn’t likely to bring a FX rate movement to your attention because the shift could destroy half your profit margin. 

The reality is that banks offer little targeted support for businesses managing the risk of cross-border payments and FX volatility. Small- and medium-sized businesses are left to take on the risks posed by volatile currency markets. 

We Turn FX Knowledge Into Value 

At Tempus, tracking volatility and helping businesses manage cross-border risks is part of our core mission. We simplify global payments for your business, leveraging market insights, customized risk management strategies and targeted trading tools to reduce your FX exposure and mitigate profit risks.

Our deep focus on global payments and currency markets translates into time and money savings, as well as flexibility for your business. Whatever your business’ size and industry, we expertly tailor payment and FX solutions to support your operational and strategic needs and facilitate global growth. We can complement your existing banking relationship, helping you buy and sell more than 130 currencies at highly competitive exchange rates, wire funds around the world and manage risk through hedging tactics like forward contracts and market orders.

And all this comes with proactive customer service that is in our DNA. No more hassles while waiting to get through to a bank to troubleshoot a wire transfer or take advantage of a sudden FX rate movement. At Tempus, you’ll be on a first-name basis with your dedicated market expert, who will call you with money-saving insights. And you’ll have a powerful digital payments platform at your fingertips. 

To be clear: We’re not suggesting you break all ties with your current bank. What we are saying is that specialization matters, and our expertise surpasses what banks offer in the realm of currency markets and cross-border payments. Learn more about our offerings here.

 

Ready to learn more from our award-winning trading team?

 

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Juan Perez Senior FX Trader and Strategist Tempus

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