Mandates and payments roundup, June 7

Habib Bank implements a new core banking solution, while IndusInd Bank awards a cards mandate to ElectraCard Services.

Habib Bank upgrades Misys solution

Pakistan’s Habib Bank has implemented a core banking solution from Misys, a global financial services provider. The new solution called BankFusion Equation will help Habib Bank improve online banking services and provide more efficient services to its treasury, trade finance and retail clients.

According to Zakir Mahmood, chief executive at Habib Bank, Misys’s solution “will put Habib Bank in the lead amongst the banking industry in the region. The BankFusion technology will not only improve our operations domestically but across our global network and most importantly, it would allow us to enhance our service and [our] customers’ experience.”

Habib Bank has been using solutions from Misys since 2004 and BankFusion Equation will help to streamline its core treasury, trade finance and payments processes. The bank is one of the largest in Pakistan with around 1,500 domestic branches and more than 30 international branches in 20 countries.

ElectraCard Services wins mandate from IndusInd Bank

India’s IndusInd Bank has signed an agreement with ElectraCard Services (ECS), a payment solutions provider, to extend technology and processing services for its credit card business.

“As an organisation, we are continuously moving up the value chain to ensure our customers’ needs are met in a comprehensive manner,” said Paul Abraham, chief operating officer at IndusInd Bank, in a statement. “Credit cards further enhance our suite of products and are very important to our overall customer relationship enhancement strategy. We are confident that this partnership with ECS will enable us to provide value adds to our customers with products and services that are innovative, reliable, secure and cost effective.”

ECS will provide several product offerings for IndusInd Bank including its credit card management solution, advanced fraud management engine, collection solution and fraud prevention solution for ecommerce transactions.

Fundtech partners with WebExpenses for expense management solution

Global transactions solutions provider FundTech has partnered with WebExpenses, an expense management resources provider, for an expense management solution called Online Expenses. The new solution is offered as a software-as-a-service (SaaS) and will be offered to Fundtech’s current client base of more than 2,000 direct corporate customers.

“There is a natural synergy between Fundtech and WebExpenses and we are delighted to announce our partnership,” said Richard Cogswell, sales and marketing director at Fundtech, in a statement. “At a time when all organisations are looking to lower operational costs, Online Expenses provides a way to save time and money.”

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