Currencies Direct Joins Forces With Satyam to Launch "Aurora Enterprise" - Integrated FX and Payment Management System
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(*) 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(*) clients, including one-third of the US Fortune 500. For more information, see www.satyam.com. (*) As of March 31, 2007
SOURCE Currencies Direct
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