Thomas Cook India launches FX-Now
Digital model for end-to-end foreign exchange services, on the goAutomated processes to ensure accuracy, drive productivity and efficienciesInbuilt with traveller KYC, corporate travel policy, approval matrix and audit trailComprehensive MISCustomisable basis corporate requirements Mumbai, June 27,
- Digital model for end-to-end foreign exchange services, on the go
- Automated processes to ensure accuracy, drive productivity and efficiencies
- Inbuilt with traveller KYC, corporate travel policy, approval matrix and audit trail
- Comprehensive MIS
- Customisable basis corporate requirements
Mumbai, June 27, 2022: With the rapid revival of business travel and corporates accelerating their digital transformation, Thomas Cook (India) Limited – India’s leading omnichannel forex services company has launched FX-Now – a pioneering digital tool that empowers its corporate segment with convenient, customizable and contactless end-to-end foreign exchange services.
Foreign exchange procedures require careful documentation and approvals – resulting in complex/cumbersome processes. In an initiative to simplify the process, yet maintain necessary checks and balances, Thomas Cook India’s FX-Now ushers in a digitized foreign exchange model that ensures speed, accuracy and seamless services for its on-the-go business travellers.
Benefits for Business Travellers:
- Simple, swift, convenient and contactless online process
- In-built with traveller documentation and KYC for multiple usage
- Streamlined approval processes saving time and effort
- Auto recommendation of optimal card to currency mix
- Smooth coordination with foreign exchange provider
Benefits for Corporate Enterprise:
- Incorporates travel policy and approval matrix – customizable per corporate
- Digital upload of employee master and approval matrix for quick authorization
- Automation of critical documentation and data storage
- Simplified online approval process – single or multiple levels and on-the-go
- Digitized process ensuring accuracy
- Comprehensive MIS capabilities
- Audit trail
4 Simple Steps for Booking Forex on FX-Now
1. Enter Personal details (KYC)
2. Enter Travel Itinerary
3. Confirm system suggested Card-Currency mix
4. Check Cart and submit to Approver
“The pandemic has served to fast track India’s digital evolution and this is even more so for our corporate travellers – a critical segment for our Forex business.
With the current Forex processes being rather cumbersome, requiring significant documentation and approvals, we were keen to eliminate the pain points for our business travellers. This formed the genesis of FX-Now, our cutting-edge corporate self-booking tool that empowers our corporates with simple, swift, convenient and contactless services for end-to-end forex transactions. FX-Now is inbuilt with customisable corporate travel policies, approval matrix and customisable MIS capabilities to further benefit our corporate segment.”Mr. Deepesh Varma, Senior Vice President, Foreign Exchange, Thomas Cook (India) Limited
About Thomas Cook (India) Limited:
Set up in 1881, Thomas Cook India) Limited. (TCIL) is the leading omnichannel travel company in the country offering a broad spectrum of services including Foreign Exchange, Corporate Travel, MICE, Leisure Travel, Value Added Services, Visa and Passport services. It operates leading B2C and B2B brands including Thomas Cook, SOTC, TCI, SITA, Asian Trails, Allied TPro, Australian Tours Management, Desert Adventures, Luxe Asia, Travel Circle International Limited (TCI 勝景遊), Sterling Holiday Resorts Limited, Distant Frontiers, TC Tours, Digiphoto Entertainment Imaging (DEI), Go Vacation, Private Safaris East & South Africa
As one of the largest travel service provider networks headquartered in the Asia-Pacific region, The Thomas Cook India Group spans 25 countries across 5 continents
TCIL has been felicitated with CNBC-TV18 & ICICI Lombard India Risk Management Award – Travel & Leisure Category 2022 & 2021, The Best Travel Agency – India at TTG Travel Awards 2019, The Best Outbound Tour Operator at the Times Travel Awards 2019 & 2018 and Leading Company with Cutting Edge Travel Innovation at the Times Travel Awards 2018, Silver award for Asia’s Best Integrated Report (First Time) category at the Asia Sustainability Reporting Awards 2019, Best Risk Management-Framework & Systems at the India Risk Management Awards 2019; Best Cash Management Solution – India at the Asset Triple A Treasury, Trade, Supply Chain & Risk Management Awards 2018, Best Outbound Tour Operator at the SATTE Awards 2019, Excellence in Domestic Tour Operations at the SATTE Awards 2018, The French Ambassador’s Award for Exemplary Achievements in Visa Issuance 5 years in a row and the Condé Nast Traveller – Readers’ Travel Awards from 2011 to 2019.
CRISIL has reaffirmed the rating on debt programmes and bank facilities of Thomas Cook (India) Limited – ‘CRISIL A+/Negative on the long-term bank facilities of TCIL and CRISIL A1 rating on the short-term bank facilities and short- term debt of the Company. For more information, please visit www.thomascook.in
Fairbridge Capital (Mauritius) Limited, a subsidiary of Fairfax Financial Holdings Limited promotes TCIL by holding 72.34% of its paid-up capital and is responsible for the execution of acquisition and investment opportunities.