Currencies Direct Joins Forces With Satyam to Launch "Aurora Enterprise" - Integrated FX and Payment Management System

Jul 10, 2007, 01:00 ET from Currencies Direct

    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
     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.
     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
     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
     (*) As of March 31, 2007

SOURCE Currencies Direct