Non-bank foreign exchange operator Travelex is to extend its use of Trema's Finance Kit package across Europe and Australia to support its global corporate FX business.
Travelex first selected Finance Kit, Trema's straight-through processing treasury, cash, and risk management solution, in January 2000 to handle front-to-back office processing of FX transactions in North America. The company will now increase the number of users, making Finance Kit the core system for its corporate FX business.
Implementation of the system has already started in Canada with the live date planned for the first quarter of 2002. Travelex's European site is in its initial phase of project planning with the scheduled live date also planned for the first quarter of 2002. Travelex's Australian operations will start implementing Finance Kit at a later date with a live date planned for the second quarter of 2002.
Alongside the Finance Kit implementation, Trema has also developed a Web-based front-end CRM tool for Travelex, which is currently being used in North America. The module, which is primarily used by Travelex's corporate dealers, allows FX transactions to be entered, in real-time, into a rule based application. The solution interfaces with Reuters, has a dynamic portfolio blotter and allows dealers to view historic information about FX transactions, as well as statistical summaries, says Trema.