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 industryleading
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 organizations and institutions throughout the region.”
Kingslake are 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.
WCL