TRAVELEX Purchases INETCO Insight Business Transaction Management Software
INETCO Insight deployed by world’s largest foreign exchange and international payments specialist
Vancouver, Canada, April 20th, 2010 – INETCO™ Systems Limited, a leading expert in business transaction management, today announced Travelex has purchased INETCO Insight™ to reduce payment settlement uncertainty and operational risk in their rapidly expanding payment processing environment.
Travelex has been experiencing exponential growth in their payment processing environment, with the addition of new services such as the Travelex Visa Money Transfer service launched in Australia last February. This service taps into Visa’s global network, which connects more that 1.7 billion cards, and provides a convenient, cost-effective and secure way for consumers to send funds directly to recipients’ Visa cards, both domestically and internationally. Using INETCO Insight, Travelex can:
- Proactively manage their growing payment processing environment
- Meet PCI compliance and industry security regulations around full data encryption
- Establish realistic Service Level Agreements with client banks and large merchant customers
“Every time a call goes through to our helpdesk, we pay for it in resources and potential service level violations,” says Mark Wingrave, Head of Direct Currency Conversion Product Development at Travelex. “INETCO Insight enables our IT and applications support teams to conduct inquiries into transaction history, identify anomalies, and proactively resolve issues first hand, resulting in significantly quicker resolution times and a decreased number of customer complaint calls into the operations center.”
INETCO Insight provides Travelex with the granular payment transaction data they need to quickly isolate the root cause of application, network and switch performance issues causing transaction slowdowns and declines. Powerful real-time alerting and historical filtering help Travelex identify and proactively address customer service issues. Graphing and reporting capabilities enable the IT and applications support team to improve capacity planning efforts and share snapshots with the senior management team that explain transaction volumes during peak processing periods. Visibility into application and transaction response times also help Travelex ensure realistic service level agreements are set and met.
Travelex is the world's largest foreign exchange and international payments specialist with over 700 retail branches across 30 countries at key airport, seaport, rail and tourist locations. Over 40% of travelers - 1.7 billion passengers a year travel through airports where Travelex operates including the major gateways at Amsterdam, Beijing, Frankfurt, Hong Kong, London, Mumbai, New York, Rome, Sydney & Tokyo.
Travelex is the world's largest non-bank provider of international payments. Every year, it processes payments around the world for over 35,000 businesses to approximately 1 million beneficiaries. Travelex Global Business Payments division has operations in 13 countries with the ability to transact in over 130 different currencies. More than 750 financial institutions use Travelex as their outsourced international payment platform.
INETCO™ Systems Limited offers business transaction management software, professional services, and communications gateway solutions for payment networks and financial application performance management. The Company’s flagship product, INETCO Insight™, delivers easy, fast access to complete, real-time transaction information for customer service teams, IT teams and senior executives that need to anticipate transaction issues and confidently manage complex, ever-changing transaction environments. A recognized technology leader in the TCP/IP payment transactions space, INETCO products are currently deployed within financial, retail, and telecommunications environments in more than 50 countries. INETCO is based in Vancouver, British Columbia. For more information, visit http://www.inetco.com
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