Middle East exchange house Al-Ansari Exchange has chosen the Public Key Infrastructure (PKI) based security solution, SecureAccess, of Comtrust, the e-solutions business division of Etisalat, to meet the security needs of its new online remittance service-Cash Express.
Launched in May, Al-Ansari Exchange’s latest offering is the region’s first fully integrated web based application for B2B remittance transactions. “In the past, communication between exchange houses and their agents was conducted via e-mails, faxes and telexes. These means are both costly and insecure,” said Mohammad Al-Ansari, managing director of Al-Ansari Exchange.
“Our goal was to develop a secure Internet-based communication system allowing rapid processing of remittance requests,” continued Al-Ansari. “Our solution is Cash Express. It provides a single, secure, speedy and cost-effective communication channel between the partnering agents and correspondents. It is an online product which provides seamless, end-to-end processing of transactions between registered agents,” said Al-Ansari.
With Cash Express now live, Al Ansari Exchange will roll-out the new remittance tool, across its network of over 100 agents worldwide, over the next nine months. “Phase one will see Cash Express deployed in the Middle East, followed by Asia three months later and the rest of the world six months down the line. We expect a minimum of 500 transactions per day by the end of phase one and 2000 transactions by the completion of the roll-out,” said Al-Ansari. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
