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June Monthly Special 2024

Clear View Systems - Revolutionizing Financial Solutions with CurrencyXchanger for SMBs Globally

Clear View Systems - Revolutionizing Financial Solutions with CurrencyXchanger for SMBs Globally

In today’s rapidly evolving digital landscape, businesses, especially small and medium-sized enterprises (SMBs), require innovative solutions to stay competitive. Clear View System (CVS) emerges as a leader in this arena, pioneering cutting-edge B2B financial software tailored specifically for SMBs. With their flagship CurrencyXchanger (CXR) application, CVS has revolutionized the way currency exchange professionals operate globally.

Founded in 2003 in British Columbia, CVS has maintained an A+ rating with the Better Business Bureau (BBB) since 2010, showcasing its dedication to transparency and customer satisfaction. With a focus on innovation, the company has become a trusted partner for SMBs in need of robust financial software solutions.

Continuing its commitment to excellence, CVS empowers currency exchange professionals with CXR’s intuitive, feature-rich software, providing seamless operations and continuous updates. Renowned for its simplicity, reliability, and effectiveness, CVS stands as a beacon of innovation in financial technology.

Tiran Behrouz, CEO of Clear View Systems, spoke exclusively to CIO Bulletin about how his company remains devoted to delivering cutting-edge B2B financial software that surpasses expectations and has become the top choice for currency exchange professionals globally.

Interview Highlights

Q. Clear View Systems has been operating since 2003 and has achieved significant success in the financial software industry. Could you share the company’s journey and key milestones that have led to its current position as a trusted provider of financial solutions?

Clear View Systems (CVS) embarked on its journey in 2003 with a clear mission to address the unmet needs of small and medium-sized businesses worldwide, particularly in the realm of currency exchange software. Over the years, the company has achieved significant milestones by staying true to its commitment to innovation, reliability, and customer-centricity. Key milestones include the development and launch of flagship products like CurrencyXchanger, which has become a trusted solution for SMBs in various industries. Clear View Systems’ relentless focus on understanding and addressing the unique challenges faced by SMBs has contributed to its current position as a leading provider of financial solutions, earning the trust of clients globally.

Q. Can you provide an overview of Clear View Systems; flagship products and services, and how they cater to the needs of small to medium-sized businesses?

CVS offers a range of flagship products and services designed to cater to the needs of small to medium-sized businesses. These include robust anti-money laundering (AML) solutions, transaction monitoring, KYC solutions, and various API products. One of its standout offerings is CurrencyXchanger (CXR 4D), a comprehensive software solution tailored for Money Service Businesses (MSBs). CurrencyXchanger streamlines the processes involved in currency exchange by automating tasks, enhancing compliance, and providing real-time reporting and analysis capabilities. This empowers SMBs to operate more efficiently, mitigate risks, and focus on growing their business.

Q. The CurrencyXchanger software seems to offer a comprehensive solution for Money Service Businesses (MSBs). Could you elaborate on how it streamlines the processes involved in currency exchange, particularly for small to medium-sized businesses?

CurrencyXchanger has been developed to streamline every aspect of currency exchange operations. The platform works like an ERP (Enterprise Resource Planning) system, offering contact management, a multi-currency POS, and CRM with sanction screening, an integrated accounting module, currency control, cash management, treasury management, and transaction monitoring. Additionally, CurrencyXchanger provides real-time updates on currency rates, empowering MSBs to make informed decisions in a rapidly changing market environment. The platform also incorporates robust customer identification verification mechanisms, bolstering security and compliance measures.

Additionally, CurrencyXchanger offers comprehensive reporting tools, enabling MSBs to gain valuable insights into their operations and financial performance. By automating repetitive tasks and seamlessly integrating compliance measures, CurrencyXchanger empowers MSBs to enhance operational efficiency, minimize errors, and ensure compliance with stringent regulatory requirements.

Q. With operations in 45 countries, Clear View Systems has a broad international presence. How does the company navigate the diverse regulatory landscapes of different countries to ensure that CurrencyXchanger remains compliant and effective for users worldwide?

Clear View Systems strategically navigates diverse regulatory landscapes, informed by insights from sources such as EY’s Regulatory Outlook report. This comprehensive analysis sheds light on regulatory trends shaping the financial sector, emphasizing the importance of compliance and adaptation. With regulatory complexities evolving, Clear View Systems remains vigilant in ensuring that CurrencyXchanger complies with global standards while addressing specific jurisdictional requirements. By staying abreast of regulatory developments outlined in reports like EY’s, CVS continues to enhance its software’s effectiveness and regulatory compliance, ensuring seamless operation for users worldwide.

Q. How does Clear View Systems ensure compliance with regulations like PCMLTFA, CIP, BSA, and the USA Patriot Act across various jurisdictions?

Clear View Systems ensures compliance with regulations like PCMLTFA, CIP, BSA, and the USA Patriot Act across various jurisdictions through meticulous attention to detail and ongoing collaboration with regulatory experts. The company’s software solutions are designed to incorporate compliance measures seamlessly into everyday operations, reducing the risk of non-compliance and facilitating smoother regulatory audits. CVS also provides training and support to help users understand and navigate regulatory requirements effectively.

Q. Clear View Systems is a member of BBB with an A+ rating. What does this accreditation mean for the company, and how does it reflect Clear View Systems; commitment to transparency, integrity, and ethical business practices?

Clear View Systems’ accreditation as a member of BBB with an A+ rating reflects its commitment to transparency, integrity, and ethical business practices. This accreditation is a testament to the company’s dedication to maintaining high standards of customer service and satisfaction. It assures customers that Clear View Systems adheres to best practices and operates with honesty and integrity in all its dealings. The A+ rating demonstrates Clear View Systems’ track record of delivering quality products and services and upholding ethical standards in its business operations.

Q. As the financial technology landscape continues to evolve, what opportunities and challenges does Clear View Systems anticipate in the coming years, and how is the company positioning itself to adapt and thrive in this changing environment?

Key trends highlighted in the industry include the rise of blockchain technology, increased adoption of digital payments, and the growing importance of data analytics and artificial intelligence (AI) in financial decision-making. While these trends offer opportunities for innovation, they also pose challenges such as cybersecurity threats and regulatory complexities. The rise of cybersecurity attacks on banks, governments, and larger entities in recent years is a testament to the complexity of the digital realm’s threats and vulnerabilities.

CVS continuously invests in research and development to enhance its product offerings and stay ahead of market trends. The company aims to deliver innovative solutions that meet evolving client needs by leveraging emerging technologies like blockchain, AI, and data analytics.

Q. Could you share any upcoming developments or enhancements that customers can expect from Clear View Systems’ services/products?

Clear View Systems is committed to remaining at the forefront of innovation in the financial software industry. Looking ahead, we’re excited to announce that we’re developing new features and enhancements to our services and products. With the global tourism industry experiencing remarkable growth, as evidenced by the projected number of international tourists for 2024 reaching a substantial 1.53 billion (Global Tourism Statistics 2024), there’s a growing demand for efficient and reliable financial solutions to support businesses in this sector.

In response to this trend, CVS is focusing on developing specialized tools and services tailored to meet the unique needs of travel agencies, hotels, and other businesses in the tourism industry. These enhancements will include features such as seamless integration with booking systems, advanced currency exchange functionalities optimized for international transactions, and real-time reporting tools to help businesses track and analyze their financial performance.

“CurrencyXchanger has been developed to streamline every aspect of currency exchange operations. It revolutionizes currency exchange operations for MSBs with real-time updates, robust compliance, and seamless integration, empowering confident decision-making and operational efficiency.”

“Clear View Systems’ accreditation as a member of BBB with an A+ rating reflects its commitment to transparency, integrity, and ethical business practices. This accreditation is a testament to the company’s dedication to maintaining high standards of customer service and satisfaction.”


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