Payment news, December 21

MoneyGram expands remittance network in India, while Siam Commercial Bank chooses a currency management system from Transoft International.

Siam Commercial Bank implements currency management solution

Thailand’s Siam Commercial Bank SCB has appointed Transoft International to implement its next generation currency management system, called OptiCash, across its operations. SCB has the largest automated teller machine and branch network in Thailand.

“Once a decision was made to upgrade our system, we ran detailed parallel pilots on products from selected vendors in the market including Transoft’s daily cost optimisation applications,” said Siwate Rojanasoonthon, senior vice-president at SCB’s logistics operations, in a statement. “As OptiCash appeared to provide the best results for our complex environments, the choice was relatively clear.”

Transoft has recently secured cash management mandates with banks in other...

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