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CCS
Launches the 121 Bank Ltd Prepaid Card Platform
International disbursement
program for major Japanese Based Financial Forex Service
Provider
London 09FEB09 -
CCS UK Ltd
has completed the implementation of a platform that allows Japanese
financial service provider, 121 Group Ltd, to provide a dividend
payout card to their 10,000 members.
121
Group offers integrated comprehensive financial services through
its subsidiary 121 Bank Ltd which include leveraged forex
trading, financial advisory services, fund & asset management,
corporate finance and personal financial services. The company's
aim is to provide professional and high quality trading services
to their clients and
investors. In order to provide clients and investors with low
costs and superior trading conditions, the company
maintains a highly advanced backup-management system, offering
24-hour market information and full support for their multiple
trading platforms. The company's platforms are supported by
HSBC, Citibank, MF Global and MB Trading Futures.
The card program which went live in February has effectively consolidated the payout of investment
dividends in the form of a prepaid card that has been issued to
the investors of 121 Bank Ltd predominantly residing
within Japan and Hong Kong. Traditionally payouts have been
made as cheque and the interest in a prepaid card program has
been fueled by the need to provide a more rapid means for payout
as well as the long term strategical need for a more cost
efficient way to payout to a membership whose dispersion is
increasingly becoming pan Asian.
"The
opportunity to facilitate business process improvements for
the 121 Group Ltd through the use of a prepaid card platform is an
exciting opportunity for CCS. This will help in providing
additional value to the strategic evolution of the company's
aggressive corporate directives" says Mark McDonald, Director CCS.
The Foreign Exchange
market, also referred to as the "Forex" market, is the most
traded financial market in the world, with a daily average
turnover of approximately US$3.2 trillion. Foreign Exchange is
the simultaneous buying of one currency and selling of another.
The world's currencies are on a floating exchange rate and are
always traded in pairs, for example Euro/Dollar or Dollar/Yen.
The Forex market is called an 'Interbank' market due to the fact
that historically it has been dominated by banks, including
central banks, commercial banks, and investment banks. However,
the percentage of other market participants is rapidly growing,
and now includes large multinational corporations, global money
managers, registered dealers, international money brokers,
futures and options traders, and individual investors. Today,
over 85% of all daily transactions involve trading of the major
currencies, which include the US Dollar (USD) , Japanese Yen (JPY)
, Euro (EUR) , British Pound (GBP), Swiss Franc (CHF) , Canadian
Dollar (CAD) and the Australian Dollar (AUD).
About 121 Group Ltd
121
Group (http://www.121bank.com) offers integrated comprehensive financial services through
its subsidiary 121 Bank Ltd which include leveraged forex
trading, financial advisory services, fund & asset management,
corporate finance and personal financial services. The company's
aim is to provide professional and high quality trading services
to their clients and
investors. In order to provide clients and investors with low
costs and superior trading conditions, the company
maintains a highly advanced backup-management system, offering
24-hour market information and full support for their multiple
trading platforms. The company's platforms are supported by
HSBC, Citibank, MF Global and MB Trading Futures
About CCS UK Ltd
CCS UK Ltd (www.ccsprepay.com)
is a consultancy firm which since early 2005 has been consulting
in the area of prepaid debit implementation strategies
specifically across the Europe, Middle East and African (EMEA)
region, expanding into Asia Pacific and Latin America during
2006. By developing relationships with issuing banks and
transaction processors CCS guides its corporate clientele to the
most appropriate product offering based on a detailed program
qualification process and guidance by an internal financial
advisory counsel that provides the risk management expertise and
regulatory understanding for both local, regional and global
program positioning. CCS UK Ltd is an authorized MasterCard
Member Service Provider (MSP) and Visa Independent Sales
Organization (ISO) for strategic MasterCard and Visa member
issuing banks.
Contacts:
CCS Operations
Sharon Hay
admin@ccsprepay.com
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18
SOHO SQUARE
