Payment news, August 17

Hyundai and TMB Bank select risk management solutions, while DBS and PayPal begin a new partnership.

SunGard the choice for Thailand’s TMB Bank

TMB Bank Public Company (TMB Bank) implemented SunGard’s ambit risk and performance management solution to improve the handling of its market and liquidity risk. TMB Bank’s risk managers will now have access to more accurate and highly detailed data.

“Risk management continues to play a critical role in out business, particularly following Thailand’s financial crisis in 1997 and the most recent global financial crisis in 2008,” said Oranuj Tantimedh, head of market risk at TMB Bank, in a statement. “SunGard’s ambit risk and performance management solution will help TMB improve the management capital, risk and business performance, thereby helping to ensure sustainable business continuity.”

Fico provides risk management solution to Hyundai

Hyundai Card, a joint venture between the Hyundai Motor Group and GE Capital, selected a risk management solution provided by Fico, a US-based analytics and decision management technology provider, to improve customer management decisions. The solution, Fico Transaction Scores, will strengthen Hyundai Card’s risk management and marketing programmes.

“Growth in the card business today is a matter of strengthening risk controls on the one hand and capturing a larger share of wallet on the other,” said David Lightfoot, vice president of product management at Fico, in a statement. “The selection of Fico Transaction Scores gives Hyundai the increased analytic power to do both more effectively.”

DBS and PayPal make it easier

DBS and PayPal announced the implementation of an innovative payment solution that will allow Singapore-based customers of DBS and its subsidiary, POSB (Post Office Savings Bank), to fund their PayPal accounts and purchase goods over the internet without the hassle of a credit card giving more than four million individuals a “virtual wallet”.

“In an Asia-Pacific first, PayPal is working directly with DBS to enable their customers to conveniently fund their PayPal accounts directly from their bank accounts, in order to use PayPal’s global payment platform for faster, safer online shopping with eight million merchants worldwide,” said Farhad Irani, general manager and vice president of Asia at PayPal, in a statement.

Customers will be able to complete the funding process or “top-up” quickly and smoothly using DBS ibanking on personal computers and mobile phones.

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