Monetor - A Web Application for Analysing Business FX Risk

Key takeaways

• Monetor is a web application that shows a business how exchange rates affect it and suggests actions, such as when to pay invoices.
• It was designed for CFOs and for companies without a dedicated treasury function, with real-time FX risk assessment.
• A rules-based platform built in Scrum with Python, Django and Java on Amazon Web Services.
• The platform's initial success brought further investment, which funded new functionality.

Order Group has partnered with fintech startup Monetor to develop an online application that helps businesses understand and manage foreign exchange (FX) risk. The goal was to give companies, especially those without dedicated treasury functions, the tools and insights they need to manage currency risk more effectively.

One of the main challenges for Order Group was the general lack of structured currency risk management systems in many companies. This gap often put these companies at a competitive disadvantage in global markets. Our goal was to create a user-friendly tool that would bring advanced FX risk management to a wide range of companies.

To address these challenges, we developed Monetor as a rules-based decision-making platform that offers real-time FX risk assessment. We worked in Scrum and used Python, Django and Java to build a flexible, scalable solution on Amazon Web Services. This let the platform adapt to a variety of business needs and respond quickly to market changes.

The app has been designed specifically with CFOs in mind, focusing on usability and strategic functionality. It allows users to monitor currency exposure and develop actionable strategies using current financial data and market trends. The platform is practical for day-to-day operations and also gives strategic insight for high-level decisions.

A major lesson from this project was the importance of continuously collecting user feedback. Regular contact with end users throughout development let us refine the app's features based on real needs and experiences. This iterative approach helped the platform serve users better and improved their ability to manage FX risk.

The Monetor application has significantly changed the way participating companies perceive and manage exchange rate fluctuations. The platform's initial success brought further investment, which funded new functionality and strengthened its position as a fintech tool for currency risk management.