Banco Cuscatlán posted a sharp growth in FX activity and an expansion of its client base during the review period. It also hired a dedicated FX specialist to support the execution of its new commercial strategy, providing a clearer focus within the business.
The bank’s proposition extends across 22 currencies and is supported by two correspondent banks that provide execution and payment delivery capabilities. Newly approved clients can begin conducting FX transactions within five days of onboarding.
Newly approved clients can begin conducting FX transactions within five days of onboarding
Clients submit their payment instructions to Banco Cuscatlán, which manages the subsequent FX and cross-border payment process on their behalf. The operations team enters transaction details before release and its system tracks payments through each stage of processing. The operating model remains highly manual: no trades during the review period were processed end-to-end without manual intervention after execution.
The bank’s control framework includes due diligence and approval processes, segregation of duties, authorised correspondent bank channels and reconciliation. These measures provide operational traceability and oversight across the transaction process.
