INTL Global Currencies Licenses TwoFour's FX and CM Solutions
INTL Global Currencies (IGC), a wholly owned subsidiary of INTL FCStone (INTL), has selected TwoFour’s foreign exchange (FX) and cash management (CM) solutions. IGC specialises in transferring funds to the developing world and provides customised FX and treasury services to international aid and development organisations, UN agencies, government agencies, non-governmental organisations (NGOs), religious entities, multinational corporations (MNCs), and financial institutions in more than 150 countries. This agreement is an expansion of the use of TwoFour within the INTL FCStone organisation, with the IGC division licensing users in offices in New York, London, Singapore and Orlando.
IGC will use TwoFour in both the front and back offices for real-time trade and payment processing. TwoFour will enable IGC to capture, aggregate and process all FX trade activity with a much higher level of straight-through processing (STP) than the current system. IGC will use TwoFour’s customisable workflow engine that includes special cues for exception management that will yield a low touch trade processing environment. These cues flag and prioritise critical issues that require immediate action and bring them to the attention of IGC’s operations staff via TwoFour’s dashboard functionality. All activities that can be processed through the workflow without incident are completely automated.
“TwoFour was selected over other vendors because of its workflow based, real-time technology,” said Carsten Hils, director of IGC. “Our decision was also based on TwoFour’s consistent delivery of reliable, high performance FX solutions, its tailored, attentive, high quality customer support and an ongoing track record of delivering successful projects to INTL.”