Mandates and payments roundup, November 22

Krung Thai Bank implements solution from Financial Architects, while China UnionPay joins Multos Consortium.

Krung Thai Bank implements regulatory solution

Thailand-based Krung Thai Bank has implemented a solution from Financial Architects FinArch to comply with the IAS 39 International Accounting Standards regulations required by the Bank of Thailand.

“Preparing for Bank of Thailand IAS 39 and IFRS International Financial Reporting Standards is the wisest strategic decision not only for regulatory purposes but for the bank’s internal purposes it increases transparency and maximises returns on their capitalisation,” said Jeff Tan, vice-president for Asia-Pacific at FinArch. “In the coming years, financial institutions will face heightened pressure from upcoming new regulations, like IFRS9, ALM asset liability management, liquidity risk, and...

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