BNP Paribas introduces clearing and custody services in India
BNP Paribas has launched a local clearing and custody service in India. The bank’s clients are now able to use these services for a range of asset classes including corporate debt instruments and cash equities.
“We are delighted to announce the launch of our local clearing and custody service in India, and see this as another important step forward in our commitment to the region,” said Pierre-Alexandre Thome, head of securities services at BNP Paribas in Mumbai, in a statement. “We think India is one of the most exciting and dynamic markets in the world.”
China Guangfa Bank implements solution from Omikron
China Guangfa Bank (CGB) has selected Germany-based Omikron’s e-banking and cash management solution, MultiCash. According to the bank, MultiCash will help it provide advanced payment services and cash management tools to medium-size and large corporations in China.
“The business potential within China is only one side of the picture,” said Thomas Zimmermann, managing director of Omikron, in a statement. “Just as important is the fact that European or US-based corporate groups can now incorporate direct access to Chinese banks within their payment factory.”
Philippine Veterans Bank upgrades Misys core banking system
Philippine Veterans Bank (PVB) has upgraded its core banking system to BankFusion Equation from global application software and services company Misys. The new solution will help support the growth of PVB’s trade finance, consumer banking and lending business.
“We needed a system that could enable our team to deliver on our ambitious growth objectives, allowing them to tailor processes easily and shape the way we meet the demands of our customers with new products and services,” said Ricardo A. Balbido Junior, president of PVB, in a statement. “We look forward to BankFusion Equation supporting us as we move the business forward.”
PVB has been using solutions provided by Misys in its banking branches in the Philippines to cover treasury, accounting and financial reporting for 10 years.
