Travelex is the world’s largest international foreign exchange specialist, providing Dynamic Currency Conversion (DCC) and full transaction payment processing and clearing services for over 1500 merchants and financial institutions across 12 countries throughout Asia Pacific and Europe.
Travelex is also the world’s largest non-bank provider of international money transfer and remittance programs, processes payments around the world for over 35,000 businesses to approximately 1 million beneficiaries per year. More than 750 financial institutions currently use Travelex as their outsourced international payment platform.
“The first thing I do when I come to work is grab my morning coffee and log onto INETCO Insight®. My customized screen view gives me an instant snapshot of all transaction delays occurring with client banks and merchant customers, across our entire transaction processing environment. I can now direct resources towards fixing identified network and application issues instead of spending days trying to manually pull information together.”
Explosive transaction volume growth resulted in a new set of operational challenges for the Currency Select Business Unit, the part of the Travelex Card and Mobile Payment Division responsible for foreign exchange ATMs, POS, and E-Commerce initiatives.
Existing home grown tools did not provide visibility into application and transaction response times, or how Interchange partners were performing. These tools were unable to help Travelex anticipate customer service complaints. Client banks and large merchant customers would report service level violations, and the IT operations and applications support team would deploy a number of manual development debug applications that would capture the issue – but only if it occurred again. These home grown tools also produced excessive traffic loads that impacted the available capacity on the Travelex switch.
Travelex chose to deploy INETCO Insight to meet their business transaction management requirements, without increasing the capacity load on the switch platform.
INETCO Insight provided the granular data Travelex needed to quickly isolate the root cause of issues causing transaction slowdowns and declines. Real-time alerting and historical filtering helped Travelex identify and proactively address customer service issues while meeting PCI compliance and industry security regulations for full data encryption. Visibility into application and transaction response times helped Travelex make sure that obtainable service level agreements were set and met.
INETCO Insight has helped Travelex to: