IMX launches Managed Services for travel money providers

30 September 2008

IMX Software, the global leader in banknote trading and travel money technology solutions, today announced the launch of its Managed Services offering aimed at UK foreign exchange bureau networks to simplify the provision of specialist point-of-sale travel money functionality with centralised rate management, transaction reporting and anti-money laundering (AML) protection, without the need for in-branch software.

IMX will provide application hosting, maintenance and comprehensive support for a competitive monthly fee to reduce capital expenditure and improve cash flow.

IMX’s Managed Services offering interfaces to all major currency and travel money product providers to ensure straight through settlement. In addition, the solution integrates with external accounting systems, including SAGE, Agresso and Microsoft Great Plains, to allow foreign exchange facilities to report sales and inventory positions in real-time.

Entirely web-based, IMX’s secure Managed Services is available 24 hours a day, seven days a week and provides access to a pool of resources that many small to medium sized travel money organisations may otherwise have found unaffordable, including automatic rate board updates and the ability to sell non-serialised products such as stamps, maps and international phone cards.

The solution takes minimum effort to set up and its intuitive, easy to use interface, means that tellers can be up and running without undergoing a lengthy training process, which aids the management of branch staff turnover.

Jon Newbery, Chief Executive Officer, IMX Software comments: “We’ve focused on building an easy to use, flexible solution which provides value for our customers and brings increased efficiencies. As our Managed Services run on a thin-client basis, total cost of ownership is kept at a minimum. Central administration means we can provide consolidated real-time reporting to give our clients a better view of their exposure to help reduce risk and cost.”

In addition, IMX’s Anti Money Laundering (AML) functionality is integrated into the Managed Services offering, which ensures that organisations have the capability to comply with Know Your Customer (KYC) guidelines. Clients can also manually update the solution without any specific programming expertise to reflect any change in regulations or guidelines.

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