Travelex's 'GEO' for Cross-Border Payments Crowned Innovation of the YearBy Travelex Global Business Payments, PRNE
Sunday, December 19, 2010
Next Generation International Payments Solution Recognised for Impact on Banking Industry
LONDON, December 20, 2010 - GEO, Travelex's next generation payments solution, has been crowned
"Innovation of the Year" by Financial-i, it was announced today.
Launched at SIBOS 2010, GEO confirmed Travelex's position as the clear
industry leader in global business payments and beat the major global banks
and top-tier software providers to receive Financial-i's top industry award.
Travelex's GEO was awarded top honours for its depth and breadth of
functionality, ease of implementation and interface, interoperability, cost
savings and how the solution helps firms address business issues.
GEO, released initially for Financial Institutions, offers a scalable,
secure and flexible platform that simplifies global payments and increases
profitability by enabling the customers of these Financial Institutions
unique access to Travelex's powerful global payments network.
David Sear, Managing Director, Travelex Global Business Payments
commented, "GEO marks a significant shift in the transfers sector toward
intelligent routing of cross border payments for significantly lower cost and
improved transparency on payments across and within currencies. We are
delighted to have been awarded the top honour in global transaction banking
"GEO offers a uniquely global and easily accessed infrastructure,
facilitating new revenue streams and dramatically improving service levels
for organisations generally and Financial Institutions' customers more
Anita Hawser, Editor of Financial-I, commented, "Competition was fierce
across a number of categories this year as banks and financial software
vendors invested more heavily in innovations designed to make the user
experience more personalised - GEO stood out in this regard."
About Travelex Global Business Payments
Travelex is a global foreign exchange specialist providing the payment
and receipt of domestic and international funds for businesses of all sizes.
For more than 30 years, Travelex has provided clients with sophisticated
market knowledge, leading edge technologies and practical and innovative
solutions tailored to individual requirements.
Every year, Travelex processes payments around the world for over 35,000
businesses to one million beneficiaries.
For more information, visit www.travelexbusiness.com.
Media Contacts Caroline Parker / Rob Arnott FD +44-(0)20-7269-7295 / +44-(0)20-3077-0404 Caroline.Parker@fd.com / Rob.Arnott@fd.com
Media Contacts: Caroline Parker / Rob Arnott, FD, +44-(0)20-7269-7295 / +44-(0)20-3077-0404
Caroline.Parker at fd.com / Rob.Arnott at fd.com
Tags: December 20, London, Travelex Global Business Payments, United Kingdom