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Model of Online Financial Service Finds a Lucrative Market in Africa

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Published on : May 28, 2015

The internet has impacted the financial service industry profoundly. The technology has greatly influenced the changing landscape of business, infrastructure, and various other economic segments across time zones. 

The paradigm shift in technology preferences has given an incredible impetus to the development of dedicated networks in financial services, so that they may be able to meet the stringent standards and specifications. 

The director in the department of specialized terrestrial network service provider Workonline Communication of Business Development, Edward Lawrence enumerated that while the advent of internet has enabled businesses to extend their services to the customers round the clock, it becomes equally essential for the service providers to strictly adhere to the requirement standards set by the industry. 

Velocity Trade, a leading provider of foreign exchange services globally and a dominant client of Workonline Communications represents a perfect example of how a company operating in the financial services industry can capitalize on the latest internet technology and at the same time adhere to the stringent standards of the network requirement. The services provided by the company includes, equity trading services and direct-to-customer FX. Apart from this the company also provides partner channel trading services and contracts for difference. Velocity Trade is one of the most prominent companies that extend its spectrum of services across South Africa by strong internet networks. 

Ed Tuohy who holds the designation of non-executive director at Velocity Trade said that maintaining constant uptime is indispensable for all the companies who are operating in the industry of financial services and client services. The advances introduced in the online technology in South Africa, according to Tuohy has enabled companies to provide services to the clients who are willing to invest in a wide array of products locally as well as globally. The key requirement which the technology has enabled Velocity Trade to fulfill is to keep pace with the uptime during the peak trading hours.