- Travelex already using Finance KIT in North America, and now extending
use to Europe and Australia
- Travelex using web-based front-end CRM solution developed by Trema
Stockholm, 1st November 2001 - Trema, the premier provider of financial technology, today announced that Travelex will extend its use of Finance KIT across Europe and Australia to support its global corporate FX business. Travelex first selected Finance KIT, Trema's straight-through processing treasury, cash, and risk management solution, in January 2000 to handle front-to-back office processing of FX transactions in North America. Now Travelex will increase the number of users, making Finance KIT the core system for its corporate FX business.
Travelex is the world's largest operator in retail FX and the largest non-bank operator in corporate FX. Following the acquisition of Thomas Cook Global & Financial Services in March 2001, Travelex now has offices in 31 countries and corporate relationships in 97 countries spanning the globe, serving over 29,000,000 customers each year. With a successful Finance KIT implementation behind them in North America, as well as Trema's development of a web-based front-end CRM (Customer Relationship Management) solution, Travelex decided to take Trema's Finance KIT to support its corporate FX business globally.
Finance KIT implementation has already started in Canada with the live date planned for the first quarter of 2002. Travelex's European site is in its initial phase of project planning with the scheduled live date also planned for the first quarter of 2002. Travelex's Australian operations will start implementing Finance KIT at a later date with a live date planned for the second quarter of 2002. All implementations will follow the methodology used in the pilot North American project, which now acts as the 'Best Practice' model.
Alongside the Finance KIT implementation, Trema has also developed a web-based front-end CRM tool for Travelex, which is currently being used in North America. The module, which is primarily used by Travelex's corporate dealers, allows FX transactions to be entered, in real-time, into a rule based application. The solution interfaces with Reuters, has a dynamic portfolio blotter and allows dealers to view historic information about FX transactions, as well as statistical summaries.
Steve Kuhl, Vice President Foreign Exchange, Travelex Global Payments, comments, "Travelex Global Payments Department was impressed withFinance KIT's capabilities back in January 2000. As well as implementing Finance KIT in North America, Trema also worked with us to develop a web-based front-end CRM tool that we have been very satisfied with. It was an easy decision to take Trema's Finance KIT for our global corporate FX business".
Robert WennerstrÃ¶m, Director Corporate Sales, Trema, "Travelex's decision to increase their use of Finance KIT across their worldwide operations is a testimony to Finance KIT's capabilities, architecture and the value it brings to organizations. Finance KIT has enabled Travelex to achieve real-time straight-through processing of FX transactions, whilst at the same time integrating trade operations globally and enhancing risk management unctionality." WennerstrÃ¶m continues, "The front-end CRM module will allow Travelex to offer an even better service to their customers as they can perform FX specific tasks into a user-friendly web-based tool."