NOIDA, India, July 08, 2022 (GLOBE NEWSWIRE) — EbixCash Limited, a technology enabled provider of digital products and services in the B2C, B2B and financial technology arena, today announced that its Foreign Exchange Division – EbixCash World Money, has launched the Self Booking Corporate tool for business and corporates travelers, to further empower corporates with a spectrum of digital foreign exchange services.
With a variety of powerful tools that enable a Corporate to generate customized alerts and an MIS of all the associated activities, EbixCash’s Self Booking tool (SBT) provides a variety of seamless and hassle-free foreign exchange services to a Corporate. While increasing efficiency in booking and managing foreign exchange, EbixCash’s SBT provides an approval matrix setup to the corporate, besides functions like real time order updates and online invoice management.
“We are excited to be formally launching EbixCash’s Self Booking Corporate tool, as it is an important step forward towards enabling increased efficiency for corporate business travelers – a key business segment for us. We have already conducted successful pilot implementation with some of our key corporate clients. Now, we plan to roll the SBT across all our corporate clients expeditiously”. T C Guruprasad, Managing Director, EbixCash World Money said. “The tool will allow our clients to avail foreign exchange services digitally, through a hassle-free documentation process. With an included approval matrix, that can be set up by each of the corporates as they deem fit, EbixCash’s SBT empowers our corporate clients to customize the system in accordance with their corporate travel policies while generating customized reports.”
EbixCash is a subsidiary of Ebix, Inc. (NASDAQ: EBIX), with a leadership position in key businesses that it operates in, with a “phygital” strategy that combines over 650,000 physical agent distribution outlets throughout India and Southeast Asia as of December 31, 2021; with a Omni-channel online digital platform that offers its products and services encompassing domestic and international money remittance, foreign exchange (Forex), pre-paid gift cards, utility payments, travel services, and technologies across insurance, bus information systems, lending and wealth management in 75+ countries.
EbixCash World Money, the foreign exchange division of EbixCash Limited holds a leadership position in foreign exchange business in India, with a vast network encompassing 81+ retail branches, 250 franchisee partners and duty free shops, 27+ bank clients, 1200+ corporate clients including top fortune 500 clients and 5-star hotels in India. EbixCash World Money is also a leading player in India’s airport and seaport Money Exchange business with retail kiosks in 16+ international airports, and 12 seaports.
With a “Phygital” strategy that combines over 650,000 physical agent distribution outlets throughout India and Southeast Asia as of December 31, 2021, to an Omni-channel online digital platform, the Company’s Financial exchange portfolio of software and services encompasses domestic and international money remittance, foreign exchange (Forex), pre-paid gift cards, utility payments, travel services and technologies for insurance, bus information systems, lending and wealth management across 75+ countries including India. EbixCash has Forex operations in approximately 16 international airports, including Delhi, Mumbai, Mumbai, Hyderabad, Chennai and Kolkata. EbixCash is a leader in the international remittance business based on gross transactional value. EbixCash, through its travel portfolio (Via.com and EbixCash.com), is one of the leading travel exchanges based in India and catering to Southeast Asian markets, with over 517,000 agents and approximately 17,900 registered corporate clients. EbixCash’s financial technologies business offers software solutions to various clients in the areas of wealth, asset and lending management, insurance and bus information systems. EbixCash’s business process outsourcing services provide information technology and call center services to a variety of industries. For more information, visit the Company’s website at www.ebixcash.com
EbixCash Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a draft red herring prospectus (“DRHP”) with the Securities and Exchange Board of India. The DRHP is available on the website of the SEBI at www.sebi.gov.in as well as on the websites of the book running lead managers, Motilal Oswal Investment Advisors Limited at www.motilaloswalgroup.com, Equirus Capital Private Limited at www.equirus.com, ICICI Securities Limited at www.icicisecurities.com, SBI Capital Markets Limited at www.sbicaps.com and YES Securities (India) Limited at www.yesinvest.in, respectively, and the websites of the stock exchange(s) at www.bseindia.com and www.nseindia.com, respectively. Investors should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see “Risk Factors” of the RHP, when available. Potential investors should not rely on the DRHP for any investment decision.
About Ebix, Inc.
With approximately 200 offices across 6 continents, Ebix, Inc., (NASDAQ: EBIX) endeavors to provide on-demand software and e-commerce services to the insurance, financial services, travel, healthcare and e-learning industries. In the Insurance sector, Ebix’s main focus is to develop and deploy a wide variety of insurance and reinsurance exchanges on an on-demand basis, while also, providing Software-as-a-Service (“SaaS”) enterprise solutions in the area of CRM, front-end & back-end systems, outsourced administration and risk compliance services, around the world.
Through its various SaaS-based software platforms, Ebix employs thousands of domain-specific technology professionals to provide products, support and consultancy to thousands of customers on six continents. For more information, visit the Company’s website at www.ebix.com
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