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Clear View Systems: Simplifying Money Exchange
When Tiran Behrouz, President, Clear View Systems founded the company in 2003, little did he know that the journey he has embarked on with just one client to assist, would reach such stellar heights. Clear View Systems—a provider of financial software for money exchange and remittance—today serves about 350 clients across 30 countries, including money exchangers, small banks, travel agencies, cruise ships, and few duty free shops. Clear View Systems brings money transfer software, CurrencyXchanger—their flagship product—to manage day to day money exchange transactions. CurrencyXchanger is a robust, flexible, and cost-effective currency exchange system that automates money exchange business.
Currently, the CurrencyXchanger is available in its 4th version as an integrated point of sale (POS) platform with CRM capabilities and accounting system to manage all the accounts, which revises the rates of varied currencies automatically. The fourth version of CurrencyXchanger also has a compliance module to ensure that customers stay in compliance with the various guidelines that regulate the money exchange process, cost-effectively. Another module called eWire enables companies to deliver money remittance and money transfer services through a network of trusted agents. Using eWire agents located overseas, they can seamlessly transfer money on behalf of their customers to the beneficiaries.
CurrencyXchanger comes in three editions, which can be customized to fit the customers’ specific business requirements. The first, POS edition is mainly designed for cash to cash transactions for customers that deal with clients walking in with cash for exchange.
Clear View Systems is planning to launch the Enterprise Edition of its software in 2018, which aims to serve large banks with numerous branches
BE (business) is the second edition of CurrencyXchanger, meant for customers that provide a larger variety of services such as selling different products like travelers’ cheques and not just cash currency. The third edition is CurrencyXchanger Pro, which goes a level up, offering capabilities for international money remittance. Clear View Systems is now planning to launch the Enterprise Edition of the software in 2018, which aims to serve large banks with numerous branches, offering all kind of services.
To highlight the advantages that customers enjoy using CurrencyXchanger, Behrouz outlines how it assisted a major customer in New Zealand, using a non centralized system that was installed across different branches. Some of the client’s office locations had limited access to internet at times, creating the need for manual reconciliation every day at the head office. As an outcome, their accounting and book keeping was lagging behind by several months, restricting them to identify cases of frauds or loss of money on time. On installing CurrencyXchanger, the clients’ existing system’s functionality extended. The company added synchronization for their network to synchronize all the branches with the head office reconciling all the transactions immediately in the head office. For locations that did not have internet access, Clear View Systems used a sync module, which allowed all the transactions to be saved locally on the computers in the absence of internet connection. As soon as the internet connectivity was regained, the transaction would sync back to the server automatically allowing the reconciliation to be done at the branch level and at the head office.
“We, in the process of developing CurrencyXchanger, have built a backend solution—Clear View KYC that has the capabilities for background and compliance checking, while offering currency exchange rate to the customers,” states Behrouz. Clear View KYC serves as a standalone backend-as-a-service, introduced for larger enterprises, to be integrated with their current system. In near future, Clear View Systems plans to expand its presence focusing on the backend product as well its currency exchange platform. The company is also working towards introducing a mobile version of the software and incorporating cryptocurrency in it. “We will keep the company small and lean, offering our product at affordable prices,” concludes Behrouz.