Looking to facilitate payments related to customs, trade and logistics to meet Thailand's National Logistics Development objectives, National Interbank Transaction Management Exchange (NITMX) turned to Axway (NYSE Euronext: AXW.PA), a market leader in governing the flow of data, based on its expertise in integration and ability to govern critical business interactions.
NITMX was established in late 2005 to provide businesses, individuals and banks with access to electronic payment services, acting as a switching center for interbank, business-to- business, business-to-consumer and consumer-to-business payment transactions.
With the intent to become a center of business and trade in the Indochina Region, Thailand's National Logistics Development Plan had to rely on a world-class logistics system. The main objectives of the plan were to enhance trade facilitation, increase cost efficiency, responsiveness to customers, reliability and security. In order to meet these objectives, NITMX needed a solution to manage payment transactions and trade finance between banks and traders via the National Single Window (NSW). NITMX selected Axway B2Bi, a component of the Axway 5 Suite as a comprehensive, packaged solution that integrates businesses with entire B2B communities, including suppliers, customers, financial institutions and regulatory bodies.
With Axway B2Bi, NITMX is able to govern their data flows in order to:
Meet the NSW Bank gateway uptime and disaster recovery requirements
Offer a standardized, secure infrastructure to meet the NSW Bank gateway
Provide on-boarding methodology for debtor and creditor banks
Address future product phases including financial services related to trade
"With Axway's recognized expertise in governing the flow of data, we were able to build upon existing infrastructure and offer new services to set the stage for growth and development in the future," said Miss Wanna Noparbhorn, Managing Director, NITMX. "We needed to deploy a platform that would allow us to meet the requirements of the National Single Window, and Axway was able to provide the technology to secure and move payments to stay ahead of industry changes and increase our position and role in the region."
"For large Thai financial institutions whose services are dependent on technical capabilities and the ability to inty to integrate with the NSW Bank Gateway with a secure standardized endpoint, having the right solutions in place is critical," said Eric Chevrier, EVP, Sales & Operations, Growth Markets, Axway. "Not only was NITMX able to effectively meet the strict NSW Bank Gateway disaster recovery requirements, they were able to create a one point connection from banks to customs."