Rockhard Bureau de Change launched on TMX-online
Rockhard Bureau de Change has fast-tracked the deployment of business systems at its first outlet in Windhoek by opting for TMX-online from IMX Software, a global leader in currency trading and travel money technology.
Rockhard started operating in Namibia earlier this year with the vision of offering competitive exchange rates and money transfer services to residents and international travellers. It selected TMX-online as the point of sale software for the new Khomas Grove Mall branch in Khomasdal because it offered an out-of-the-box solution that met its needs without extensive customisation.
TMX-online enabled Rockhard to get its business up-and-running with all the necessary controls in place.
The platform complies with Bank of Namibia regulations and provides electronic reporting for cross-border transactions using the mechanism and in the format specified by the central bank.
“With TMX-online, we were able to launch our business without having to worry about designing operational procedures since they are all configured and embedded in the product,” said Jerome Mutumba, Executive Chairman at Rockhard Bureau de Change
. “This solution will facilitate our growth as we add new branches to our network and expand into new service lines.” Rockhard will be opening a second branch in Rundu later this month, with another in Katima Mulilo to follow before the end of the year. Money transfers through the MoneyGram network are also in the pipeline.
TMX-online automates transactions involving travel-related products and services, including cash, money transfers, pre-paid cards and travellers’ cheques. Because it is a browser-based solution, it offers lower support and maintenance costs, and the software can be quickly and easily rolled out to any new branch with a PC and an Internet connection.
With TMX-online’s centralised position monitoring, Rockhard knows exactly what its overall foreign currency exposure is at any time.
The system uses a single centralised customer database and serves as the single source of transactions for central bank reporting purposes, making it simple to comply with Namibia’s regulatory requirements. “With TMX-online, Rockhard has a world-class, specialist foreign exchange solution that has been tailored to meet central banking requirements in Namibia,” said Hennie Pretorius, General Manager at IMX South Africa. “Our technology allows Rockhard to kick-start its business with world-class technology and processes in place so that it can benefit from efficient transaction times and a transparent view into its business.” IMX South Africa, a subsidiary of IMX Software, said it helps African financial services providers improve their businesses with solutions that align and integrate people, processes and technology.
Headquartered in London, IMX Software specialises in developing software solutions for three market segments: wholesale currency and banknote trading; currency distribution and fulfilment; and retail foreign exchange and travel money products for business-to-business and business-to-consumer channels.