Clear View Systems: Simplifying Money Exchange

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.