Mighty Systems unveils ‘SYMEX.net' software for

Money Exchange houses in UAE and globally

This new digital nervous system for exchange houses comes with enhanced ‘Anti-Money laundering' feature and was launched by Mr.P.C.Thomas
 – Ex Union Minister for Law and Justice, Government of India

Dubai, UAE, November 25th, 2013: Established in 1998, Mighty Systems, one of the leading software companies with headquarters in Dubai, has announced the launch of the new version of SYMEX (Systematic Money Exchange) software based on Microsoft's .NET technology for money exchange houses in UAE and countries across the globe. The state-of-the-art software comes with an enhanced ‘Anti-Money laundering' feature and was launched by the Chief Guest, Mr.P.C.Thomas - Ex Union Minister for Law and Justice, Government of India and Mr. Abdul Karim Mehdi Alasmawai, Sponsor, Mighty Systems.

Mighty Systems works with Central Banks of various countries and customizes the software according to their legal requirements.  In addition to the Middle East and Africa, the company's software is currently operational in 16 locations including UK, Australia, Canada, Malaysia, Singapore, Seychelles and Hong Kong.

The company was the brain child of Late Mr. John J. Cherian and he developed this software in the UAE, when no other software was available to address the needs of this demanding industry. SYMEX is the largest and most popular enterprise software solution deployed by Mighty Systems in over 125 money exchange companies as it adopts a 360 degree approach to manage these complex set of day-to-day operations.

“This new digital nervous system was launched after years of research to take the industry to the next level. Money exchange operations and accounting procedures are distinctly diverse and call for stringent management controls and thorough scrutiny by government agencies. Unlike other business, periodic reporting to Central Bank is mandatory. It is of utmost importance that accuracy of transactions and maximum security is maintained throughout the process. Mighty Systems has succeeded in this challenging field by coming up with ‘SYMEX', which automated the entire operations for money exchanges. Several powerful and differentiating features make our product unique and it is comprehensive, flexible and scalable solutions in its class,” said Ms. Grace Cherian, Managing Director, Mighty Systems LLC. Dubai, UAE.

This grand launch was attended by over 200 customers, partners and senior industry leaders namely -                 Mr. Muhammad Amin Bawa, Managing Director, Habib Exchange; Mr. Manaf Biviji, Group CEO, Shattaf, Emirates International Exchange; Mr. Fuad Nonoo, Owner, Nonoo Exchange, Bahrain; Mr. Ali Fajhan, GM, Al Muzaini Exchange Company, Kuwait and  Mr. Rajiv Raipancholia, Director, Orient Exchange.

“Our journey till this date from humble beginnings 16 years ago would have been incomplete without the support of our customers. Regular feedback from our customers has immensely helped our R&D department to incorporate all the necessary features required by an exchange house. We would like to take this opportunity to thank our customers for their continued support over the years,” concluded   Mr. Lewis Abraham, General Manager, Mighty Systems.