Travelex starts India operations

Our Banking Bureau
03 November 2003

At a ceremony here, Travelex India''s first office was inaugurated by renowned Australian cricket player Adam Gilchrist. The cricket star also conducted the first transaction for Travelex India. Travelex, the official tour sponsors of the Australian cricket team, also honoured Mathew Hayden as the best player of the year in a star-studded ceremony.

After consolidation in Mumbai, Travelex India will move to set up operations in Bangalore, Delhi, Chennai, Kolkatta and Goa among other cities. This expansion plan will run parallel to the aggressive marketing initiatives Travelex has lined up nationally.

Says Lloyd Dorfman, chairman and CEO, Travelex: "We will not only be able to bring world-class services to the Indian traveller but offer unique money exchange solutions to Indian companies as well. We realise the strategic importance that India plays in the Southeast Asian region and will take initiatives to centralise all activities and make this the hub of Travelex operations for the region. Travelex has chalked out strong marketing plans to ensure that the Indian operation is the key driver for regional growth."

In its first initiative, Travelex India will manage the money changing requirements of customers across India by offering them a large suite of products and services. These products and services are world-class and are unmatched by any other moneychanger in India for full-fledged forex solutions for banks, corporates and retail clientele. It will set up state-of-the-art forex bureaus in major cities across India.

Since its formation in 1976 Travelex''s retail operations have grown rapidly into a substantial network across North America, Australasia, Asia and Continental Europe. It now operates over 650 retail travel money branches, 324 of which are located at airports, comprising the largest airport network in the world.

Travelex has evolved from being an innovative bureau de change operator into a dynamic, pioneering and diversified worldwide money business. The company''s prowess, wide variety of consumer and business services and its rapid growth and unique entrepreneurial culture have established it as the leading company in the field.