IMX Software announced today that it has won a competitive tender for the upgrade of FOREX Bank’s point-of-sale and back office administration system across over 130 shops in four countries.

The FOREX Bank tender award followed a competitive 12-month process with IMX being chosen for the superior modernity, scalability and flexibility of its new GTS-Retail system, which will be delivered as a managed service from an exclusive, high-specification hosting environment to its shops in Sweden, Finland, Denmark and Norway.

FOREX Bank also placed significant emphasis on the longevity of the product, taking the view that the technology foundations needed to be modern enough today to be relevant for the next decade. IMX’s on-going product investment programme placed GTS ahead of the competition in this strategic category.

Among the benefits FOREX Bank expects to achieve from the solution are enhanced transaction performance, lower operating costs, simpler regulatory compliance, and improved agility when implementing business process changes. The system will also help the company stay ahead of the requirements of complex and often localised international know your customer (KYC), anti-money laundering (AML) laws and regulations, and central bank reporting across the countries where it operates.

About FOREX Bank

In 2003 FOREX Bank, the leading foreign exchange company established 1965, extended its business into retail & consumer banking. FOREX Bank offers cash currencies, savings & loans, cash, credit & prepaid cards, payment & cashier services and money transfer. Services are available at over 130 conveniently located shops in Sweden, Finland, Denmark, Norway. For more information, visit www.forex.se.