Transtrack and Kingslake in strategic partnership for growth in South-East Asian markets

Software solutions for the management of the cash supply chain,cash businesses, banks and central banks

Utrecht/Colombo – The companies announce today that they have signed a Letter-Of-Intent to form a strategic partnership, aimed at developing markets for Transtrack’s products in South-East Asia.
This strategic partnership will create a local presence for Transtrack providing sales, implementation and support in key South-East Asian markets, as well as a regional “Centre of Competence” out of which Transtrack’s in-country business partners and customers in the region will be supported.

This partnership combines Kingslake’s knowledge of the financial services and Cash-In-Transit (CIT) sector in key Asian markets and their solid track record as a provider of IT solutions, with Transtrack’s proven IT solutions for cash businesses around the world. Together they provide banks and cash businesses in the region with new opportunities to increase the efficiency of cash management and tracking by using focused solutions, with proven high value-add to industry-leading customers around the world.

“This partnership uniquely supports our strategic development as the leading provider of solutions for cash management, cash transportation and cash processing businesses around the world, by entering new, high-growth markets in Asia. Our products TransTrack, TransCash, TransOptimizer and WebPortal are widely used IT solutions in the cash business. We highly value the experience of Kingslake as a committed and innovative provider of IT solutions to cash businesses, banks and central banks in Asia”, says Ronald van Vliet, Managing Director of Transtrack International.

Dr. S. Dharmavasan, Managing Director of Kingslake, states: “We are committed to this strategic partnership with Transtrack because there is no other company able to offer such complete and effective cash management solutions today. This partnership combined with our existing portfolio makes us the only supplier in the South-East Asian market able to provide such a complete approach. During fifteen years of operations, we have acquired an excellent knowledge of our customer’s needs and believe that these solutions are adding tremendous value for financial organisations and institutions throughout the region.”

Kingslake is based out of Colombo, Sri Lanka, with offices in Malaysia, India and the United Kingdom. The partnership with Transtrack will result in the formation of a regional “Centre of Competence”, as well as direct sales, implementation and support operations in Malaysia, Singapore and Sri Lanka initially, with further expansion into other countries to follow.

Transtrack International is an independent software specialist with standard software packages for cash-in-transit companies and banks. The software is geared towards improving efficiency, traceability, optimal cash stocks and supply chain integration. Transtrack International works with distributors in Italy, Turkey, Germany, Poland, Ukraine, South Africa/Sub Saharan Africa, Mexico, United States, South Korea and India.

Kingslake offers total end-to-end solutions with consulting, software development, application integration, product design, research and development. Entrusting a company’s software requirements and IT processes to Kingslake guarantees the best results with quantifiable return on investment. Specific client needs are designed and delivered by a team of experienced professionals, each of whom specialize in a preferred area of expertise in order to give clients the best possible service at all times, on the basis of a long term partnership.