Vietnam-based subsidiary of France’s major financial group, BPCE, is implementing a new core banking system, Sopra Banking Amplitude. The new solution will cover front-to-back office operations of the bank, including digital banking functionality. The system is supplied by Sopra Banking Software. The project follows the reorganisation of BPCE’s operations in Vietnam, with the business moved […]
Haitong International Securities Group has gone live with the second stage of the middle office revamp. The underlying tech is the Syn capital markets platform, provided by GBST, an Australia-based securities processing software vendor. Haitong signed for Syn last year and reported the first go-live in November. It has adopted the Syn platform as it […]
New Zealand’s central bank, Reserve Bank, is implementing Numerix’s Oneview for trade valuation and risk management analytics. The system will support risk pricing and risk analytics, market standard trade valuation, and position and collateral management. “We are improving our technology and analytics capability in our domestic and foreign market operations,” says the bank’s deputy governor, […]
Monex, one of Japan’s largest online trading brokers, is deploying a new platform for its domestic equity and investment trust processing business. The supplier is Broadridge Financial Solutions. Broadridge’s offering is JASDEC (Japan Securities Depository Centre, Inc) Processing Solution. Oki Matsumoto, CEO of Monex, says the new platform “will enable us to further improve our […]
Samsung Electronics and China UnionPay (CUP) have launched the mobile payment service Samsung Pay in China. The South Korean firm joins Apple in entering the country, as the US giant launched its mobile payment system in China last month. That was also in partnership with state-owned bankcard association CUP. Samsung Pay currently supports credit and […]
Deutsche Bank has become the first foreign bank in China to establish host-to-host connectivity with Bank of China, as part of the project to deliver international cash management (ICM) services to corporate clients. The two banks have implemented an interbank host-to-host platform, with the first customer – Bosch China – already on-board. The project commenced […]
Mizuho Bank, Fujitsu and Fujitsu Laboratories have jointly conducted a three-month operational trial using blockchain, which makes it “practically impossible” to tamper with transaction histories. The trio says this shortens the processing time for cross-border securities transactions, from the current three days to same-day settlement. For the trial, they built a system that “almost instantly” […]
Mizuho Bank plans to use a new robotics platform developed by IBM Research-Tokyo for the bank’s customer service-oriented robots. IBM says its researchers are developing new technologies that will “benefit” Mizuho’s Robotics platform by tapping into Watson’s (IBM’s cognitive technology) language and other capabilities to provide a “smoother human/robot interaction and to enable collaboration between […]
Vietnam-based Techcombank has gone live with Misys’ FusionCapital software. The new platform – based on Misys’ FusionCapital Kondor product – supports treasury and capital markets (TCM) operations at the bank. The deal was inked in November 2014. Techcombank opted to work with Misys as it has offered “a configurable, fast and cost-effective analytics platform”, explains […]
Payment firms i2c and TIS have formed a strategic partnership to standardise prepaid payment solutions on the i2c processing platform. Under terms of the multi-year partnership, Japan-based TIS will adopt i2c’s cloud-based platform as its standard for prepaid card processing and expand its use to support credit and debit card payment processing in “key Asian […]
Kyc.com, a joint venture between Markit and Genpact, has announced the expansion of its Know Your Customer (KYC) compliance and diligence service to Hong Kong and Singapore. This roll out is in addition to jurisdictional coverage in the US, UK and Australia which it launched in 2014. A number of banks are already signed up […]
Apple has launched its mobile payment system in China today, in partnership with state-owned bankcard association, China UnionPay. The company will face tough competition, but it received good news this week when Industrial and Commercial Bank of China (ICBC) said its customers would be able to use Apple Pay. In an interview with Reuters, Jennifer […]
Deutsche Bank has implemented an electronic enterprise resource planning (ERP) integration solution for Bosch’s foreign currency and renminbi (RMB) cross-border payments in China. Headquartered in Germany, Bosch is a global supplier of technology and services. The company’s operations are divided into four business sectors – automotive technology, industrial technology, consumer goods, as well as energy […]
Malaysia headquartered RHB Investment Bank (RHB) has implemented Fidessa as its trading platform across Asia. The system, managed by Fidessa throughout the region, provides algorithmic trading across all member markets, ‘intelligent’ indications of interest (IOIs) and a centralised order management system (OMS) with integrated middle-office to support RHB’s regional business. The ability to on-board a […]
Distributed ledger technology provider Ripple and Japanese financial services firm SBI Holdings have announced the creation of a joint partnership, which will expand Ripple into the Asian market. Ripple, which focuses on the using blockchain-like technology for payments, is based predominantly in San Francisco with presences in New York, London and Sydney. SBI is a US$28 […]
Bank of America Merrill Lynch has launched an automated US dollar cross-border cash pooling services for corporations operating in the Shanghai Free Trade Zone. ZF TRW, a division of ZF Friedrichshafen, manufacturers of automobile safety systems, has implemented the working capital solution and is serving as the pilot client.
The Singapore Exchange is to launch FX block futures on ICAP’s FX platform EBS Market, in a deal the two companies say will bridge the FX OTC and futures markets. The move comes as regulators around the world seek to move as much trading activity towards cleared platforms as possible, as part of the ongoing G20 reform agenda.
Deutsche Börse strengthened its links with mainland China this week with the establishment of a partnership with the Shanghai Stock Exchange and China Financial Futures Exchange to create new marketplace for the trading of renminbi-denominated offshore products under the new brand of the China Europe International Exchange.
A prosperous, clean and safe place to visit, Singapore also offers a wide variety of culinary delights.
Standard Chartered Bank, has opened a Global Collective Intelligence and Command Centre at Technology Park Malaysia, which aims to develop new technology to improve banking services. The centre is staffed with software engineers, operations specialists and service partners, co-located in a 33,000 square feet fully-digitised and secured environment. “Defining and implementing our digital aspiration is a […]
Closer links between the Shanghai Stock Exchange and UK and European exchanges may be on the cards. The London and Shanghai exchanges are exploring a scheme to link their markets. At the same time, European exchange group Euronext announced a deal with the Shanghai Stock Exchange to promote its listed members to Chinese investors.
An interesting trend is developing in the halal sector: regional hubs are developing in places that have some local demand but not the size that would be significant markets on their own. Think of Malaysia (the largest) or Dubai or tiny Brunei. Each sees the halal sector as being strategic to their economic growth, and for Dubai and Brunei at least, as key aspects of their economic diversification. This trend has the potential to support global growth in the Islamic economy as well as SME development but need a lot of (costly) infrastructure put in place to open up the international side to SMEs
Swift has named the 20 finalists for the 2015 Innotribe Startup Challenge finale, which will take place at Sibos in Singapore this October. The finalists include companies focused on personal finance, foreign exchange, data protection, mobile banking and e-commerce as well as social media, big data, payments and many other areas.
Kuala Lumpur-based Hong Leong Bank Berhad has selected the Intellect Global Transaction Banking platform as the basis for a digital transformation of its wholesale banking services.
The London Stock Exchange has welcomed BOCI Securities as its first member from Hong Kong. BOCI Securities, a wholly owned subsidiary of BOC International Holdings, joins London Stock Exchange less than two months after regulatory approval was received from Hong Kong’s Securities and Futures Commission allowing Hong Kong firms to become members.
The Chinese renminbi continues to gain ground internationally as more banks adopt the currency, propelling its position into the top five global payment currencies worldwide, according to the latest batch of data from Swift.
The London Stock Exchange has obtained approval for Hong Kong companies to become members. Previously, only companies from the European Economic Area and Israel could join.
The Shanghai-Hong Kong Stock Connect link has made significant in-roads in the opening of China’s capital markets to international trading but barriers to participation, including restricted trading strategies, introduce risk and create operational complexity. The long-term success of the venture hinges on removing these barriers, according to a study carried out for the DTCC.
Singapore futures market Cleartrade Exchange has launched a new matching and trading platform, CLTX Trader, which will go live on Deutsche Börse’s global trading architecture. The exchange says the new technology will help support more advanced trading strategies for commodity derivatives.
Deutsche Börse plans a joint venture with the Shanghai Stock Exchange and China Financial Futures Exchange to develop and market Chinese-based financial instruments to investors outside mainland China.
Japanese investment bank Daiwa Securities has transferred its Hong Kong business onto a new post-trade processing platform built by specialist vendor Torstone. The bank says the move is part of a long-term plan to revamp its back-office technology in the city, as Hong Kong steps up its role in the integration of China’s capital markets into the global mainstream.
Africa and Asia are the centres of innovation in payments, with the developed markets of the US and Western Europe lagging behind, but the trend is towards domestic offerings rather than regional or international ones, says the latest Payments Innovation Jury Report.
Singapore’ DBS Bank has begun a major overhaul of its financial crime prevention strategy, as the bank seeks to upgrade its suspicious activity monitoring, due diligence and risk tools.
Germany’s Deutsche Börse and China Construction Bank have entered into a strategic partnership and have signed a ‘preferred partnership’ agreement under which they will explore the opportunities for more cooperation.
Hong Kong’s share of the international Renminbi market has fallen over the past two years as other countries increase their share, which now stands at 25% compared to 17% in February 2013
Myanmar’s Yoma Bank is to install a new core banking system provided by vendor Misys, as part of a major transformation project at the privately-owned bank. Yoma especially wanted to be in a position to benefit from the growth of mobile technology in the country.
Deutsche Börse, Eurex and the Bombay Stock Exchange have further extended their strategic cooperation offering connectivity services. Participants of BSE will be able to use Deutsche Börse’s resilient low latency N7 network services to connect to BSE back-ends in India through the Deutsche Börse access points in Hong Kong and Singapore.
Japan’s Financial Services Agency has ambitious plans to more than double the proportion of foreign investors in Tokyo’s securities market by 2020. The plans are part of a wider shift linked to ‘Abenomics’, the government push to revitalise Japan’s economy.
The Chinese renminbi has become one of the world’s top five payments currencies, according to new figures released by Swift. The currency, first introduced to foreign investors in 2007, overtook the Canadian dollar and the Australian dollar in the last two months of 2014 to reach the top five.
Japan Exchange Group is planning to introduce a new derivatives trading system for its derivatives-focused subsidiary the Osaka Exchange, using technology provided by Nasdaq.
