The International Air Transport Association (IATA) has partnered with JSE Securities Exchange-listed Global Technology (Glotec) to roll-out e-commerce financial services solutions to IATA`s African and Middle East members via Glotec`s Fin-X Online portal.
IATA is the international air transport industry body working to facilitate inter-airline cooperation in promoting safe, reliable, secure and economical air services for the benefit of the world`s consumers. It offers a wide variety of services, including accreditation, legal, financial and training services for airlines and travel agents worldwide.
Fin-X is a specialist company in the Glotec group. Its operations include Fin-X Online, an Internet portal for travel agents and the SWIFT Africa Bureau that provides secure global financial communication services to financial institutions in southern Africa.
SWIFT is the Society for Worldwide Interbank Financial Telecommunications. The partnership dovetails with IATA`s mission to provide cost-effective financial services to members and third-parties, including settlement and clearing facilities, currency clearance services and the re-engineering of industry revenue accounting practices.
"IATA has been instrumental in supporting the air transport industry in the implementation of e-ticketing technology and e-ticket interlining," says Willie Stoman, director at Fin-X Online, a subsidiary of Global Technology.
"This partnership will facilitate increased availability of e-business solutions." Fin-X will develop a range of financial services for IATA to add value to existing distribution and financial services offered by IATA`s Industry and Distribution and Financial Services (IDFS) business unit.
Immediate benefits that will enable IATA members to add value to their service offerings are access to Fin-X Online`s virtual forex agency offering online currency rates-comparison tables on one browser page from a range of forex dealers as well as the ability to buy international telephone calling cards.
"Members are currently able to log onto IATA`s Web portal to download their billing and get certain information from the BSP link," says Cathy Rundle, IATA`s IDFS regional sales manager, Africa and Middle East. "We want additional, more sophisticated services, such as offering statistics and enabling consolidation of bank statements, to streamline the e-commerce component of our business."
"The partnership offers Glotec another major opportunity to extend its African and Middle-East operations, while at the same time building on SWIFT`s international reputation," concludes Stoman.
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