IMX SaaS solution helps retail and travel money providers reduce costs and boost performance

IMX Software, the global leader in banknote trading and travel money technology solutions, has announced the immediate availability of its next-generation Software-as-a-Service (SaaS) offering for retail currency and travel money providers.

The Saas-based solution enables these organisations to boost transaction performance and lower operating costs while complying with international know your customer (KYC) and anti-money laundering (AML) laws and regulations. Based on IMX’s Global Trading System, the Saas platform helps organisations to reduce the cost of managing regulatory requirements such as KYC checks, AML suspicious activity reporting, AML transaction pattern checking, and central bank compliance.

“Our SaaS offering is a robust, fully-featured version of our retail foreign exchange and banknote trading platform,” says IMX Software CEO Bill Tickner. “This solution integrates front office trading and e-commerce tools with back end inventory management and reporting capabilities to provide retail currency and travel money providers with a complete solution to their needs.”

A modern user interface enhances teller productivity and speeds up transactions by using hotkeys, widgets, and a rate adjustment slider. These features also enable retail currency and travel money providers to drive revenues and improve margins by supporting functions such as product upsell, rate banding and buyback guarantees. The intuitiveness of the interface reduces the time and cost of training tellers to use the system, further reducing costs. In addition, the offering can be run on a tablet computer to support flexible deployment options such as roving cashiers and mobile kiosks.

IMX’s retail SaaS solution is available with Business Continuity Mode (BCM), an on-offline capability that ensures tellers in high transaction volume branches can keep working through a branch communications infrastructure failure. This safeguards reputation and revenues at branch level in an environment where organisations can suffer heavy losses after just few minutes of downtime during peak trading hours.

Other features of the new IMX SaaS offering include:

  • Configuration of sophisticated pricing structures by location and client type
  • Embedding and accessing external websites within the system
  • Monitoring and administration of branch inventory
  • Creation of simple or sophisticated reports and uploading them for reuse in the system
  • Support for plasma and LCD rate boards and central upload of graphical advertisements
  • Real time monitoring of cashier performance against benchmark historical transaction volumes
  • Real time monitoring of potentially suspicious cashier activity
  • Support for multiple base currencies within one system implementation
  • Viewing inventory in co-located branches such as airports to reduce supply costs when recycling currencies