Chequepoint,
Transcheq, Harada Ltd, Worldcash, Citicruiser, Halcyon Datasys,
Halcyon Datacorp & Prague Safe Deposit are some of the business
ventures / products associated with Mr. Felix Grovit.
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The very substantial cost and complexity required for the development
of suitable technology has so far inhibited the expansion of the
international remittance service offered by small and medium sized
providers.
The need to provide an immediate and indisputable audit trail for
each remittance is critical to establishing confidence with customers
and regulatory bodies alike.
Without adequate controls and transparency, disputes or
misunderstandings with customers and recipients cannot be
satisfactorily resolved, nor can regulatory requirements for the
identification of suspicious transactions be fulfilled.
The TransCHEQ software application (TransCHEQ) has been developed to
take account of these factors and can be upgraded to adapt to specific
country or jurisdictional requirements as well as to changing market
conditions.
TransCHEQ is subject to worldwide patent (pending) and is offered as
an application to third party remittance businesses that lack the
considerable resources necessary to develop and maintain software 'in
house'.
TranCHEQ will enable each remittance company, however small or large,
to transact using the TransCHEQ application to access all other agents
on the TransCHEQ system to send or receive funds for those customers
while maintaining a full audit trail for each transaction, including
settlement.
TransCHEQ is to be made available to regulatory and enforcement
organizations around the world to seek recognition of its performance
in meeting the requisite standards and with a view to establishing
TransCHEQ as the approved product for the industry.
In the current conditions, heightened by fears around terrorism, it
is of crucial importance to all remittance businesses to comply with
the myriad complex regulations around the world. TransCHEQ represents
a real step forward in providing a unified application available to
all money transmitters who lack the resources to build their own
proprietary networks or to meet fully standards of compliance that are
now imposed on all transactions.
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