Travelex and Sterci Partner to Enhance Straight Through Processing Offering

Washington DC - 26 October 2010

- Global, Centralized System Provides Clients with 24-7 Support -
- Clients Experience Reduced Operational Risk and Controlled Operating Costs -

Travelex Global Business Payments, Inc. (“Travelex”) a leading provider of international payments and foreign exchange solutions, announced today it will provide SWIFT payments for clients globally through Sterci SA (“Sterci”), an independent software author providing SWIFT financial network solutions.

“We see in Sterci a partner with the most innovative technology and a service culture that makes for a strong partnership,” said Vanessa Murden, Executive Vice President of Global Operations for Travelex Global Business Payments. “This partnership will allow Travelex Global Business Payments to accelerate our improvements in global processing of payments and allow for more cost effective payments and faster delivery whilst enhancing the value proposition for our clients with an efficient processing service using the SWIFT financial network.”

The partnership combines the global reach and latest state-of-the-art technology of both organizations to streamline Travelex’s operations by consolidating payment traffic into Sterci’s Service Bureau. This groundbreaking initiative will also enhance Travelex’s GEO customer offering and service proposition by improving operational efficiencies and further globalizing the business.

Sterci Chief Executive Simon Kalfon said, “It is a pleasure to welcome Travelex to our fast growing Service Bureau. Many of our clients using the SWIFT financial network are turning to outsourcing SWIFT to us as they seek to gain the latest technology for efficiencies of operations, reduce operational risk, and control operating costs. What makes this deal unique in the marketplace is its global scope. We look forward to working closely in partnership with Travelex to ensure we seek all means to support their growth and their objectives to gain competitive advantage.”

With the partnership with Sterci in place, Travelex now operates with a global, centralized system and its clients can receive support 24-7.

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