Mandates and payments roundup, October 11

Krung Thai Bank, Kasikornbank and OceanBank implement new risk and payment solutions, while JCBI opens its first office in the Middle East.

Thai banks implement new solutions

Thailand’s Krung Thai Bank has selected an asset and liability, market risk, interest rate risk, foreign exchange risk and daily bank-wide liquidity risk management solution from global technology company Fiserv.

“The Fiserv solution will help Krung Thai Bank execute stress testing for all risks across the full spectrum from possible to likely to probable,” said John Filby, president of risk and compliance at Fiserv. “Robust stress testing requires well-informed management, defined risk tolerances, complemented by solutions that enable advanced enterprise risk modelling.”

In addition, Kasikornbank has implemented a unified teller solution from Kiva Group. The solution, Respect 7, will be rolled out to more than 800 Kasikornbank branches in the country. According to Kiva Group, its solution will be seamlessly integrated with the bank’s core processing system and provide up-to-date features in teller tools and controls.

OceanBank selects BPC’s payment solution

Vietnam’s OceanBank has selected a payment processing platform from payment solutions provider, BPC Banking Technologies (BPC). The SmartVista e-payments solution will help OceanBank take direct control over its payment business, issue new cards products and offer value-added services to its clients.

“As a forward-looking bank we are focused on increasing our levels of customer service and choice,” said Tran Thanh Quang, deputy general manager at OceanBank. “We have aggressive growth plans for our card and payments business and are confident that having chosen SmartVista we have the infrastructure available to support our business in the long term.”

OceanBank intends to issue 1 million cards by 2014 and to enlarge its terminal network by up to 600 automated teller machines over the next five years. Anh Bin Bank also implemented BPC’s SmartVista solution at the beginning of April this year.

JCB expands in the Middle East

JCB International (JCBI), the international subsidiary of payment company Japan Credit Bureau, has opened its first branch in Dubai. The new office will develop JCB’s card issuance and merchant-acquiring business through licensed partners in the Middle East and African markets.

“We are very happy with our success so far and eager to expand the JCB brand throughout the region,” said Yusuke Matsui, chief representative at JCBI’s new Dubai office. “The Middle East in particular is seen as a growing market and we are aiming to increase our card member base and market share in the region by focusing on strengthening relationships with our partners.”

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