i-Exchange System
Introducing the ICS i-exchange system, an exchange application that is advanced, complete, secure and reliable!

No matter how small or big your money transfer operations are, whether you are a bank, credit union, money transfer company or an agent, our i-exchange system is the best and the most affordable solution in the market that could automate your entire company’s money transfer operations.
Our i-exchange system provides real time enterprise-class compliance, enhanced security and faster data processing. Net result is lower operational costs, increased revenues and profits, greater control and more satisfied and happy customers for you.

Objective
Our i-exchange system has been developed using the latest Oracle technological Stack. It is designed for any size of money transfer organisations that want to take advantage of an enterprise class system that could help them expand their business and create tremendous value.

The Solution
ICS designed and developed an application for organisations that is seamlessly integrated with Oracle applications. ICS understands both the complex nature and the end goal of an exchange system. We also understand that while the ultimate goal of improved productivity is universal, each organization has unique needs that must be taken into account. ICS has the knowledge and technology that lets us deliver user defined software solutions to fit a wide variety of organizations.

Why ICS?
ICS stands out as the premier supplier of exchange software solutions due to our commitment to providing system solutions tailored to the unique needs of our clients. Our team has the experience and skills to help you implement the exchange system at every level of your organization—from the cashier to the CEO, from you and into the hands of the customer.

We combine the latest technology with advanced software design concepts to deliver a comprehensive program that meets our client's needs today, tomorrow and beyond. Flexibility is also a key aspect of our software.

Since our software is developed in-house from the ground up, incorporating optional modules or modifications is a simple process. Only ICS offers this powerful combination of usability features.

ICS i-exchange system
Our i-exchange system includes many features like 24/7 technical support, advance branch & agent network management, A/R & A/P with branches and agents, multilingual, enterprise class compliance, audit trail, dual authorization, and enhanced reporting that are as per the industry best practices and international standards.

Al Yousuf Exchangers, one of the biggest money exchange houses in the Middle East is currently using our system for their business applications. A customised exchange system for managing all their business transactions which is seamlessly linked to other Oracle modules running within their Organisation.

Modules within the i-exchange system
ICS has developed different modules called ‘extensions’ to cater for various areas of an organisation, thereby making the solution modular but still integrated.

Modules

• Product Inventory Management (Stock Management)
• Foreign Currency (F/C) Buying & Selling
• Transfers
• Settlements
• Reports
• Inquiry
• Approval
• Marketing Messages
• Interfacing with Oracle Financials or other 3rd party software.

Product Inventory Management (Stock Management)
In this business area, complete stock tracking of the currencies is maintained. This area caters to the internal & external movement of the currencies and consists of several business processes like drawing cash from or depositing cash to the bank, inter branch transfers, etc.  Our mission and our expertise lie in helping our clients simplify the process without missing any links in the business processes.

Foreign Currency (F/C) Buying & Selling
Buying & selling of foreign currency from the customer & wholesale exchangers is recorded and maintained in this module. It consists of many sub processes like receipts, payments and customer reconciliation.

Transfers
This module includes the Telegraphic Transfer (TT) and Demand Draft (DD) transfers. It includes the transfer entries & remittances made to different correspondents across the globe. This is one of the most critical business areas for any exchange company to which our application caters up to the root level.

Settlements
This area includes the settlement process executed by an organisation with their in line correspondents i.e. suppliers based on agreements. Settlement can be done by involving two, three or many other parties (correspondents).

Reports
Reports serve as the gauge of the efficient use of resources and customized Reports are crucial to any effective exchange application. Effective reporting of transactions gives users the information they need to efficiently manage inefficiencies or errors, processes and a host of other day to day events and practices that demand their attention.

They can serve as point of validation of process and as a means of identifying problems. By providing a way of making sense of the data collected from our exchange application reports users will have the knowledge they need when making crucial decisions whenever required. 

Inquiry & Approval Forms
These inquiry forms will be used by the top management for  decision making and their subsequent approvals. Relevant forms with relevant information will be available at your fingertips which will eventually improve the overall productivity of the organisation. 

Marketing Messages
All the operational reports given to customer will bear a marketing message at the bottom of the related report. There is a master form to enter the messages as per transaction type. All the marketing messages can be entered and printed in any required language. Users are able to activate the message as per transaction type.

Interfacing with Oracle modules
Finally, an application which can be seamlessly interfaced & integrated with Oracle-E-business Suite or any other financial application. This seamless integration allows organisations to:

• Reduce costs
• Improve profitability
• Improve internal controls
• Expand with control