COMPANY PROFILE

ASCENDANTFX CAPITAL INC.

AscendantFX Capital Inc. logo


CONTACT INFO

Address

3478 Buskirk Avene, Suite 1000
Pleasant Hill
CA, 94523
United States
Phone
925-283-2526
Fax
Primary
Ed Casey

AscendantFX | Wine & Beverage Group

Members of AscendantFX | Wine & Beverage Group have been helping wineries, beverage importers and suppliers to the industry for nearly 30 years.  Our deep expertise and relationships in this space allow us to process foreign currency payments more effectively, at a lower cost.  Serving over 600 wineries in California, Oregon, Washington, across the USA and Canada. 

Wineries importing barrels can utilize our service for a more cost effective and faster process when paying European cooperages.  You can settle Euro invoices to all cooperages by contacting Ed Casey of our Wine & Beverage Group at ed.casey@ascendantfx.com | T. 925 283 2526. 

Importers of other products find it just as easy and cost effective to use Ascendantfx.  

In addition we offer various foreign exchange products and services designed to protect your bottom line from volatile exchange rate fluctuations.  

It's About the People

AscendantFX's success is attributed to our ability to successfully marry the world of technology with international payments. Our business is backed by over 250 years of combined experience in foreign exchange and international payments.  We strive to establish a partnership and a long lasting relationship with you and your company. Along with protecting your bottom line we are committed to customer service. As your business grows, we wish to be a part of your growth.

AscendantFX | Wine & Beverage Group


AscendantFX Wine & Beverage group ensures your payments arrive on time through a more streamlined process.  Reducing your costs, expediting payments and protecting your bottom line.  

  • Wine Barrel Payments | Euro invoice settlement
  • International Payments 
  • International Receivables 
  • Foreign Exchange Services | Hedging Products 
  • Foreign Currency Accounts 
  • Foreign Currency Check Clearing 
  • Customized Payment Solutions 
  • Online Payment Platform 
  • Mobile Payments 
  • Dedicated Account Managers

News Archive


Cheat Sheet to the NAFTA Talks: 4 tips to protect against volatility
02 October, 2018

Update: Since publishing "Cheat Sheet to NAFTA talks" on 09/28/2018, US and Canada came to a last-minute agreement on a revised trade deal that could replace NAFTA called USMCA. The deal is expected to be signed by the end of November 2018 where it will be up for to the US Congress to approve the deal through a vote.

Will there be any deal at all between the USA and Canada? There has been plenty of talk around NAFTA and it is important to arm yourself with government facts when preparing your business. In 2017, U.S. goods and services trade with Canada totalled an estimated $673.1 billion. Exports were $340.7 billion and imports were $332.3 billion. The U.S. goods and services trade surplus with Canada was $8.4 billion last year.

It is a fair assumption to make that while some aspects of NAFTA will change, Canada and the U.S. are co-dependent on each other for trade that there will be a deal. There will be a series of talks that will cause volatility. Both governments will likely announce “victory” at the end and trade will resume business as usual.

With volatility comes currency risk. Here are four tips to protect your winery business against volatility.

Have your broker follow the market for you

It’s time to check in with your account manager for a face-to-face (or phone-to-phone) and discuss business problems relative to currency fluctuation. Brokers can not only follow the market closely for you but also provide strategic recommendations for good times to lock in rates.

Take advantage of the flexibility of forward contracts

If the rate is good, lock in the rate ahead of time with a forward contract. When the time comes to pay invoices, forward contracts can be accessed at the predetermined rate that was locked in ahead of time.

Bid orders

You can also choose the rate you are looking for through the use of financial technology that automatically monitors the market for you 24/7. Once the desired rate is reached, the currency order can be purchased automatically.

Virtual accounts

Consider prefunding virtual accounts once you see a desired rate. This way, you can simply prefund your virtual accounts once you see a desired rate.

About Joseph Krief

Joseph Krief is a Senior Currency Dealer at AscendantFX specializing in foreign exchange and global payments since 2004. Krief primarily works with clients based on the West Coast of the United States where he has delivered currency hedging strategies, ERP integrations, and processed international payments for a corporate client base ranging from small business to fortune 1000. When not working in FX, Joseph can be found playing music or hiking.  Joseph can be reached at joseph.krief@ascendantfx.com.


About AscendantFX

AscendantFX is a non-bank payments provider that works with all wineries and cooperages.  If you are looking for a simple and cost-effective way to pay for cooperage invoices, hedge against currency risk and other related forex products, we can help. 


3 Ways to Manage Foreign Currency and Boost Your Margins This Payments Season
08 June, 2018

As payments season ramps up, wineries importing barrels, staves and cork will likely face higher costs. In 2016, the Brexit referendum dropped the Euro from $1.40 to $1.08 in a knee-jerk reaction from market participants. The Euro has since rebounded over 12%, currently at $1.23. Volatile currency fluctuations are part and parcel when it comes to the world’s largest financial market, the foreign exchange market, where exchange rates are in constant fluctuation, changing upwards of 14 times per minute.  Wineries watching the Euro need to be prepared for how exchange rates will impact their cost of barrels and other imported goods.  Also, costly wire and investigation fees, not to mention slow payment execution can delay barrel deliveries and ultimately, eat away at the bottom-line.

Demystifying International Payments

In addition to currency pricing, another major challenge in making and receiving cross-border payments is that there is no single global payments system. This can result in payments inefficiencies that slow down processing times and impact shipment of goods.  Different government regulations between the sending and receiving countries can also make international trading difficult.

An effective hedging strategy can limit a wineries exchange rate risk and exposure to loss. It can eliminate the uncertainty of doing business abroad and protect future cash flow against negative currency fluctuations. Finding the right payments provider is the first step in reducing costs of sending and receiving payments across borders.

Your Banking and Non-Banking Providers

Wineries have options to choose from when it comes to foreign exchange payments. Agricultural and regional banks have earned a reputation for themselves for being neighborhood banks with great customer service.  Many of the larger banks will offer foreign exchange services and some even provide foreign country accounts.

Keep in mind that regional banks have limited global payments capabilities, relying on third-party vendors due to their limited specialized knowledge of international payments, while larger banking institutions come with a high price-tag. Larger banks also have limited service offerings due to a slower pace of innovation.

Non-banking providers are an alternative route to consider for wineries that are looking to improve their payments experience. FinTech payments companies have a competitive edge to traditional providers as their core business is focused solely on payments where products are developed to streamline the cross-border experience. Due to their agile nature, non-banking providers typically offer better user and customer experience for wineries that are looking for cutting-edge service.

3 Key Questions to Ask Before Partnering with a Payments Provider

To find the right partner for your invoicing needs, it’s important to weigh your options. There are 3 questions to ask yourself in figuring out what solution best fits your needs.

1. Does the pricing add up?

Shop around to find out what you are getting for your buck. Banks can charge an exorbitant amount of transaction fees. Do your due diligence to understand the full-suite of products including integration APIs. For more complexly managed wineries, or wineries experiencing growth, it is important to have payment portals that can grow with them.

2. Is my money safe?

When it comes to protecting money and keeping business safe, it is important to find out whether there are internal controls and risk management policies, procedures, training and reporting capabilities in place to monitor and detect activities. Payment portals should have processes in place to monitor and detect illicit activities.  It is crucial to inquire about regulatory compliance and risk management when discussing payment protection as fraud and cybersecurity risks continue to influence markets.

3. What is the enrolment process like?

The enrolment process can be a painful one with wineries doing the heavy lifting when it comes to the paperwork. Find a partner where convenience and ease of use also extends to the enrolment process that can also be streamlined so that you are up and ready to go.

AscendantFX is a non-banking payments provider that works with more wineries and cooperages collectively than competitors. For 15 years, team members have specialized in the wine space and have built up significant relationships along the way. If you are looking for a simple and cost-effective way to pay for cooperage invoices and other foreign products, we can help. Please contact ed.casey@ascendantfx.com if you’d like to discuss further.

" Both we and our partners receive payments from you quickly and easily and I’m not sure how I would run my business today without the ability to use your service for all of our foreign exchange transactions. "
- Kris Conemac, Bouchard Cooperages
Title Name Email Phone
VP Wine & Beverage Group Ed Casey ed.casey@ascendantfx.com 925 283 2526
Senior FX Dealer Joseph Krief joseph.krief@ascendantfx.com 877 452 7186