Mandates and payments roundup, March 29

Citi wins a cash mandate from Emirates airlines, while Shanghai Rural Commercial Bank chooses a core banking solution from Tata Consultancy.

Citi wins global cash mandate from Emirates

Dubai-based Emirates airlines has chosen Citi to handle its global cash management operations in Asia, Africa and North America. Citi will help the airline optimise global cash management by providing a combination of payments technology which will leverage Emirates’ deployment of Oracle ERP (enterprise resource planning) globally. Citi will also provide receivables and liquidity tools tailored to the airline’s operating process flows and systems.

“At Citi, we value our strategic alliance with Emirates, which is one of the leading brands in the world and we’re proud to provide global cash management services that meet the exact needs of the company,” said Steve Donovan, Citi’s Middle East and Pakistan head of global transaction services, in a statement.

Shanghai Rural Commercial Bank implements core banking solution

Shanghai Rural Commercial Bank has selected a core banking solution from global information technology services, business solutions and outsourcing company Tata Consultancy Services (TCS). TCS’s solution, called TCS Bancs Core Banking, will cover the bank’s deposits, loans, payments and card modules.

“We selected TCS Bancs’ scalable core banking system due to its advanced open architecture and ability to reduce total cost of ownership,” said Zhou Hengchang, chief information officer at Shanghai Rural Commercial Bank, in a statement. “This core banking solution will assist our organisation to enhance new product development, improve customer service levels and enhance market competitiveness.”

Future Generali India chooses SunGard for risk management

Insurance company Future Generali India has implemented SunGard’s iWorks Prophet. The risk management solution is used by insurers for actuarial modelling and risk reporting.

“SunGard’s iWorks Prophet is helping us improve risk management by providing a consistent product pricing process that is efficient and competitive,” said Gorkhnath Agarwal, chief actuary at Future Generali India, in a statement. “During these times of regulatory, economic and environmental volatility, it is important to create and maintain a well-balanced product portfolio, which iWorks Prophet is helping us achieve.”

The new risk management solution will help Future Generali India speed up its product development process, better manage product design and enhance its pricing accuracy.

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