IMX Software has integrated its Global Trading System (GTS) with the Xpress Money platform. The integration will enable any GTS-Retail customer to process remittances to cash or mobile wallet recipients as a straight through process via Xpress Money.

Xpress Money is one of the largest remittance companies in the world, with over 200000 locations across 165 countries. It is dominant in South Asia, Southeast Asia and the Middle East. Xpress Money provides its customers instant, secure and convenient ways to transfer money anywhere in the world through innovative technology, superior customer service and its extensive global network. Working towards the goal of making money transfers convenient, to millions of expats residing away from their homes, Xpress Money has come to be known as one of the most dependable international money transfer brands.

GTS-Retail is a new-generation trading and inventory management solution for banks and money service operators delivering travel money, remittance and prepaid card services to consumers. It helps them to gain visibility into their businesses, streamline processes, meet increasing compliance obligations and enhance customer service. Using GTS, forex bureaus can substantially reduce the time needed to process a remittance – including real-time sanctions and PEP screening – delivering a significant increase in productivity and customer satisfaction.

The integration of GTS with another leading remittance provider means that forex retailers will be able to offer their customers better service through access to Southeast Asia and the Middle East combined with the convenience of sending funds to a mobile wallet.

The enhancement to IMX’s GTS-Retail point-of-sale system allows the forex bureau to capture details of senders and their beneficiaries to save more time when processing transactions for repeat customers. GTS also provides a full back-office reporting capability for all remittance transactions to streamline and automate compliance processes.

GTS-Retail will support the following Xpress Money transaction types:

  • Send (cash to cash or cash to mobile)
  • Receive
  • Amends