News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
ORLANDO, Fla., March 10, 2021 (GLOBE NEWSWIRE) — Currency Exchange International, Corp. (TSX: CXI) (OTCBB: CURN), a full service foreign exchange technology and services provider, today announced that it has joined the Jack Henry Banking® Vendor Integration Program (VIP). Participation in the program will provide CXI with access to Jack Henry Banking’s technical resources to enable CXI’s proprietary foreign exchange and payments software, CXIFX, to integrate with SilverLake, CIF 20/20, and Core Director. The Vendor Integration Program is designed to help ensure that Jack Henry Banking’s customers can easily deploy third-party products.
CXIFX integrates with SilverLake, CIF 20/20, and Core Director via jXchange™, a services-based programming interface that enables third-party vendors and banks to access the platform’s core data and business rules. The integrity of data is maintained throughout any data exchange, because access to business rules and data is managed through a service layer which governs these interactions.
CXI is developing integrations into the core banking platforms to provide financial institutions enhanced automation through an efficient end-to-end payment process supported by an experienced, foreign exchange specialist. Financial institutions have traditionally provided foreign exchange and international services through multiple bank relationships that also compete for the same business within their markets. CXI enables financial institutions to have all of their international services with one provider that does not compete for their clients and creates client-focused relationships with a suite of offerings including foreign currency banknotes, foreign check clearing, and international payments.
“CXI’s integration with Jack Henry Banking allows financial institutions to meet or surpass the expectations of today’s consumers, businesses, and international payment managers with speed and efficiency supported by a consultative, highly-personalized customer relationship. Simplifying foreign exchange with core banking integrations benefits all parties in the international payments ecosystem – financial institutions, end clients, and CXI. This makes the integration a valuable prospect to financial institutions looking to stand out with their customers, reduce payment burdens, and improve margins,” said Randolph Pinna, Chief Executive Officer of CXI.
Jack Henry Banking’s VIP takes the customer out of the middle, providing vendors with direct access to Jack Henry Banking’s technical resources and test systems. VIP inclusion is not an endorsement of the vendor’s product.
About Jack Henry BankingJack Henry Banking®, a division of Jack Henry & Associates, Inc., is a leading provider of integrated computer systems for banks ranging from de novo to multi-billion dollar institutions. Jack Henry Banking currently serves more than 1,100 banks as a single source for integrated, enterprise-wide automation and as a single point of contact and support. Additional information is available at www.jackhenrybanking.com.
About Jack Henry & Associates, Inc.Jack Henry (NASDAQ: JKHY) is a leading provider of technology solutions primarily for the financial services industry. We are an S&P 500 company that serves approximately 8,700 clients nationwide through three divisions: Jack Henry Banking® supports banks ranging from community banks to multi-billion-dollar institutions; Symitar® provides industry-leading solutions to credit unions of all sizes; and ProfitStars® offers highly specialized solutions to financial institutions of every asset size, as well as diverse corporate entities outside of the financial services industry. With a heritage that has been dedicated to openness, partnership, and user centricity for more than 40 years, we are well-positioned as a driving market force in future-ready digital solutions and payment processing services. We empower our clients and consumers with the human-centered, tech-forward, and insights-driven solutions that will get them where they want to go. Are you future ready? Additional information is available at www.jackhenry.com.
About Currency Exchange International, Corp.Currency Exchange International, Corp is in the business of providing a range of foreign exchange technology and processing services in North America. Primary products and services include the exchange of foreign currencies, wire transfer payments, Global EFTs, purchase and sale of foreign bank drafts and international travelers’ cheques, and foreign cheque clearing. Related services include the licensing of proprietary FX software applications delivered on its web-based interface, www.cxifx.com (“CXIFX”), and licensing retail foreign currency operations to select companies in agreed locations.
CXI’s wholly-owned Canadian subsidiary, Exchange Bank of Canada, based in Toronto, Canada, provides foreign exchange and international payment services in Canada through the use of its proprietary software – www.ebcfx.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This press release includes forward-looking information within the meaning of applicable securities laws. This forward-looking information includes, or may be based upon, estimates, forecasts and statements as to management’s expectations with respect to, among other things, demand and market outlook for wholesale and retail foreign currency exchange products and services, proposed entry into the Canadian financial services industry, future growth, the timing and scale of future business plans, results of operations, performance, and business prospects and opportunities. Forward-looking statements are identified by the use of terms and phrases such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “predict”, “preliminary”, “project”, “will”, “would”, and similar terms and phrases, including references to assumptions.
Forward-looking information is based on the opinions and estimates of management at the date such information is provided, and on information available to management at such time. Forward-looking information involves significant risks, uncertainties and assumptions that could cause the Company’s actual results, performance or achievements to differ materially from the results discussed or implied in such forward-looking information. Actual results may differ materially from results indicated in forward-looking information due to a number of factors including, without limitation, the competitive nature of the foreign exchange industry, the impact of COVID-19 coronavirus on factors relevant to the Company’s business, currency exchange risks, the need for the Company to manage its planned growth, the effects of product development and the need for continued technological change, protection of the Company’s proprietary rights, the effect of government regulation and compliance on the Company and the industry in which it operates, network security risks, the ability of the Company to maintain properly working systems, theft and risk of physical harm to personnel, reliance on key management personnel, global economic deterioration negatively impacting tourism, volatile securities markets impacting security pricing in a manner unrelated to operating performance and impeding access to capital or increasing the cost of capital as well as the factors identified throughout this press release and in the section entitled “Risks and Uncertainties” of the Company’s Management’s Discussion and Analysis for the year ended October 31, 2020. The forward-looking information contained in this press release represents management’s expectations as of the date hereof (or as of the date such information is otherwise stated to be presented), and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws.
The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this press release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained in this press release.
Source: Currency Exchange International