Currency fluctuations are costing North American companies tens of billions per quarter. In aggregate companies lost $34 Billion dollars in Q2 2022 alone due to currency swings.
SAN FRANCISCO, March 23, 2023 /PRNewswire-PRWeb/ -- Unveiling Pangea Prime's Intuitive UX, World Class Automation and Cutting Edge Artificial Intelligence to Democratize Global FX Hedging
Pangea Technologies combines artificial intelligence with world-class quantitative financial research methods to help companies save time, money and resources by managing their foreign currency risk. Pangea has been selected to do a live demo at FinovateSpring 2023, taking place May 23-25 in San Francisco.
Pangea will demo Pangea Prime, the first end-to-end solution for companies of all sizes to hedge FX risk all in a few clicks. The platform reduces the margin for error, giving companies greater predictability and certainty they need to scale their global business from inception to IPO.
"Finovate always looks for timely and relevant technology to feature at our shows. Every demo is carefully selected, ensuring that those presenting are relevant and worthy of our attendees' attention," said Greg Palmer, VP of Strategy at Finovate. "We look forward to having Pangea join our stage this year especially given the current global macroeconomic volatility. The timing couldn't be better to showcase their technology."
Currency fluctuations are costing North American companies tens of billions per quarter. In aggregate companies lost $34 Billion dollars in Q2 2022 alone due to currency swings. It cost Amazon $900 million in Q3 2022 and according to Meta's Q3 earning report Meta stated that "Had foreign exchange rates remained constant with the third quarter of 2021, revenue would have been $1.79 billion higher."
"We are excited to demo Pangea Prime at FinovateSpring and showcase how companies can simply and predictably protect themselves from FX volatility," said CEO Aeron Sullivan. "FX volatility wreaks havoc on organization's budgets and P&L, putting an enormous amount of undue pressure on their team. Pangea uses a technology and API-first approach to create a scalable solution to FX Risk purpose built for the modern treasury."
Companies that have global payroll, global revenue/profits or global cost of goods are exposed to significant FX risk. The Pangea team will help finance teams develop a hedging strategy that will minimize their risk and optimize company upside. The automated platform does all the heavy lifting to execute on one or multiple strategies, saving time, money and stress from having to hedge on your own or not at all.
About Pangea
Pangea was founded to help companies prevent financial loss due to FX risk by leveraging the power of technology and AI. The platform greatly reduces the margin for error, giving organizations a much higher level of predictability and certainty needed to scale their business at a global level. With immediate real-time reporting and a dedicated team of Client Hedging Advisors, companies get clarity around their FX risk and a sophisticated hedging strategy to manage that risk automatically. Visit http://www.pangea.io or follow the company on LinkedIn and Twitter for more information.
For Pangea
Brad Simmons
[email protected]
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Media Contact
Brad Simmons, Pangea Technologies, 1 7149148417, [email protected]
SOURCE Pangea Technologies
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