Mandates and payments roundup, July 19

Fiserv wins a risk management mandate from RHB Bank, while Union Bank of India implements a payment solution from ElectraCard Services.

RHB Bank implements risk management solution from Fiserv

The RHB Banking Group (RHB) has selected a risk management solution from Fiserv, a provider of information management and electronic commerce systems for the financial services industry. The new system will help manage integrated and advanced liquidity, interest, market and credit risks as well as economic capital.

“Our current focus is on enhancing our presence locally and regionally, while continuing active retail and capital market efforts and expansion plans for our Islamic banking and global financial banking businesses,” said Patrick Ho, head of group risk at RHB, in a statement. “These goals add further urgency to our need for historical and forward funds transfer pricing for business, product and branch profitability analysis and management.”

Union Bank of India selects payment solution from ElectraCard Services

The Union Bank of India (UBI) has awarded a payment mandate to electronic payment systems software solutions provider, ElectraCard Services (ECS). Under the mandate ECS will set up an electronic internet payment hub with electraEcomm, its secure online and real-time payment processing solution, for UBI. ECS will also provide UBI with its online transaction solution, electraSecure.

According to Shri Lalit Sinha, general manager at UBI, the payment gateway business will fit strategically with the bank’s overall value proposition to its target customers.

BNP Paribas obtains clearing licence for Australia

BNP Paribas Securities Services has been granted a banking licence by the Australian Prudential Regulatory Authority in Australia. The licence will allow BNP to offer third-party clearing and custody services in the country, which it expects to roll out next year along with a full range of banking services.

“Being able to change our DNA and implement our global clearing and custody solutions will offer enormous potential to clients in Australia and New Zealand,” said Pierre Jond, head of BNP Paribas Securities Services for Australia and New Zealand, in a statement. “Not only does this development enable us to enhance our current offering, it will also support the inbound investment of overseas investors in Australia and New Zealand.”

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