LONDON, July 10 /PRNewswire/ -- Currencies Direct today announced the deployment of Aurora
Enterprise, an in-house, client/server payment suite developed by Satyam, a
leading global consulting and information technology services company (NYSE:
SAY). Aurora Enterprise enables large and medium-sized organisations to
employ and execute cross-border and international payments without the need
for foreign currency bank accounts or expensive agreements with their banks,
an efficiency that leads to substantial savings in time and money.
"Perhaps more than in any other sector, international banks
are under pressure to reduce costs while increasing the perceived and actual
quality of their services," said Currencies Direct Group Managing Director
Yogesh Shetty. "Aurora Enterprise has all the integrated functionality of a
real-time foreign exchange risk management system, but also features unique
bolt-on technology that can integrate with any third-party payment platform.
As a result, users can easily shop around for the most effective and
efficient global payment network."
In addition to the benefits of a hybrid payment model, Aurora
Enterprise combines foreign exchange-order and third-party settlements with a
single click, a considerable improvement over traditional banking payment
systems. Moreover, it will allow an organisation to leverage its in-country
presence to offer new products and services cost effectively.
"The Board of Directors at Currencies Direct chose Satyam as
it proved to be a natural fit to our technological aspirations, and its
management style of working as a partner rather than a supplier was key. The
collaborative development and deployment plan with Satyam will enable
international banks all over the world to make payments more efficiently and
gives a tremendous boost to our already ambitious plans for marketing our
products globally," said Neil Redcliffe group director - Global Investments,
Currencies Direct.
"International banks and other financial institutions benefit
tremendously by streamlining their processes without disruption," said Dr.
Keshab Panda, the senior vice president, director, and head of Satyam's
European operations. "To arrive at the best possible solution, we worked
closely with Currencies Direct to gain a deep understanding of its business,
as well as that of its clients. Consequently, we were able to quickly
identify opportunities for process and technology improvements, and
incorporate them into Aurora Enterprise, a truly comprehensive solution."
"With the introduction of Aurora Enterprise we are now
scheduled to roll out our unique online proposition early next year, thus
allowing us even greater integration and market acquisition opportunities.
This also accommodates our growth and expansion plans to North America," said
Vince Carere, director of Systems and Product Development at Currencies
Direct.
About Currencies Direct
Currencies Direct are one of Europe's first independent
foreign exchange specialists who recognised the need in the market of an
expert secondary Foreign Exchange provider to traditional banks. Its private
wealth management (High Net worth individuals) payment proposition has
received many recommendations and service awards from the Industry including
the prestigious" BT Entrepreneur award" and has been recognised as one of the
fastest growing Companies in UK.
Its innovative approach is based on dealing directly with the
currency markets and matching buyers with sellers thus eliminating
intermediaries and giving it a competitive edge in pricing foreign exchange.
Currencies Direct's business model is designed as a "solution
provider" and it uses the unique franchise concept by building global
partnerships with Banks and affiliates. Its philosophy " partners and not
competitors" has allowed it to build its franchise all over Europe, Australia
and Africa.
Currencies Direct's head office and global trading centre is
based in the City of London. It has offices across 4 continents, with a 1,500
strong franchise network of business partners and affiliates.
www.currenciesdirect.com
About Satyam
Satyam (NYSE: SAY), a leading global business and information
technology services company, delivers consulting, systems integration, and
outsourcing solutions to clients in 20 industries and 55 countries.
Satyam leverages deep industry and functional expertise,
leading technology practices, and an advanced, global delivery model to help
clients transform their highest-value business processes and improve their
business performance. The company's 40,000(i) professionals excel in
engineering and product development, supply chain management, client
relationship management, business process quality, business intelligence,
enterprise integration, and infrastructure management, among other key
capabilities.
Satyam development and delivery centers in the US, Canada,
Brazil, the UK, Hungary, Egypt, UAE, India, China, Malaysia, Singapore, and
Australia serve 558(i) clients, including one-third of the US Fortune 500. For
more information, see www.satyam.com.
(i) As of March 31, 2007
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