Financial Technology

Financial Technology

September 24, 2013

NITMX Tags Axway for B2B Solutions

The National Interbank Transaction Management Exchange (NITMX) of Thailand has been looking for a company that is able to facilitate payments that are related to customs, trade and logistics. The organization recently landed on Axway as the company that could help with those tasks. Axway has a reputation in the industry as a firm that is a market leader when it comes to controlling the flow of data and the ability to control critical business interactions.

NITMX was set up in 2005 as a way for regional businesses, as well as individuals and banks, to access electronic payment services. NITMX was established to behave as a sort of switching center for business-to-business (B2B) and business-to-customer (B2C) operations when it came to payments.

Thailand has long been looking for ways to become a top financial center in the Indochina region. The country’s National Logistics Development Plan needs to be able to rely on world-class logistics systems, and that is where Axway can step in and make a real difference. Thailand has a few main areas it wants to focus on with NITMX going forward, including increasing cost efficiency, responsiveness to customers, reliability and security. Basically those factors are any that a company or agency would be looking for when talking about a large project like this.

Specifically, NITMX will be using the Axway B2Bi solution, which is a part of the Axway 5 Suite. This program is a comprehensive package that easily integrates businesses with B2B communities that include suppliers, financial institutions and regulatory agencies.

“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,” Wanna Noparbhorn, Managing Director, NITMX said in a recent statement. “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.”

Edited by Rachel Ramsey

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