IMX Software, the world`s leading supplier of foreign exchange solutions, is represented in southern Africa by Business Edge.
IMX Software`s WCS is a comprehensive wholesale solution for financial institutions that manages the trading and distribution of banknotes. These institutions can trade with other financial institutions, act as agents for smaller financial institutions or trade directly with retailers. The software supports multiple products, including banknotes and travellers` cheques.
Business Edge will be implementing WCS at Standard Bank and integrating it with the financial institution`s trading systems. The system will enable the bank to automate the dealing room, inventory and back-office areas.
Standard Bank will use the WCS to consolidate all wholesale currency services operations, giving it increased visibility into, and control over, transactions, inventory, and profit.
IMX has a track record with more than 100 customers around the world in the financial services industry. Business Edge has worked on numerous projects at Standard Bank in the past involving the roll-out of complex systems such as the WCS.
As a specialist supplier of systems and services to African banks and insurers, Business Edge consultants combine practical banking business and systems knowledge with their professional speciality and insight.
Says Hennie Pretorius, Director of the Banking Business Unit at Business Edge: "This deal builds on a long-standing relationship between Standard Bank and Business Edge. We are confident that this system will deliver the benefits the bank is looking for. IMX Software`s focus on developing solutions for the travel money and foreign exchange markets means it offers a best-of-breed product that matches the real-world needs of banks today."
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