Travelex Global Business Payments unveils its new GEO payment solution for Financial Institutions

Click to view the official press release.
Click to download the GEO Brochure.


Overview

GEO offers many exciting benefits for regional and national banks who want to develop their international services and gain new sources of revenue. With the advent of GEO, regional financial institutions can make use of an innovative, white label and flexible global payments solution that is wholly independent of the global banks, to offer a best-in-class foreign exchange and international cross border payments service worldwide.

Winning benefits

  • From day one, GEO creates new revenue streams by using proven digital cloud technology to deliver a consistently efficient and reliable service, worldwide.
  • Because GEO is already fully developed and functioning, it can be set up quickly and needs minimal IT integration.
  • GEO is designed to be intuitive, transparent and user-friendly, so it can be implemented with a minimum of training or disruption.
  • GEO’s white label platform and beneficiary management can be custom-built to have the look and feel of your own brand.
  • With GEO you gain access to the GEO ‘net’ community worldwide.
  • GEO is totally flexible – it is designed to support both a branch and online model.

The latest technology

  • GEO is proven technology, with hundreds of Financial Institutions and their customers globally using the platform.
  • GEO leverages the cloud computing model to deliver faster, more accurate payments with local clearing across more than 40 countries.
  • Faster set up – GEO can be up and running in your own environment within weeks.
  • A user friendly interface that’s intuitive so the tellers in your branch network or your customers online, can be setup and start making their international payments with minimal training.

Rich features and functionality designed specifically for Financial Institutions

  • An online database of bank reference information makes it easy for your tellers or online customers to create a new beneficiary and find the right routing codes.
  • A built-in IBAN validation engine simplifies the process to find and verify an IBAN, ensuring that the entered IBAN is correct and pre-populating all of the routing instructions.
  • Beneficiary email notification provides your customers’ beneficiaries with instant notification that their payment is on the way including tracking and reference information.
  • A full OFAC engine is built into the GEO online platform to fulfil AML obligations.  All payments initiated in GEO are scanned real-time against our built-in OFAC filter and any false positives or hits are routed to your compliance officer for review.

In a single stroke, GEO simplifies the complexities of global payments and opens up a range of new revenue opportunities for Financial Institutions by offering their customers fast, efficient, reliable and secure movement of money across borders.

For more information please email us at GEO@travelex.com. Come and see the new GEO solution in action at SIBOS on the Travelex stand A319, or visit www.TravelexBusiness.com/SIBOS to learn more.