Payment news, January 11

DBS selects cash solution from Broadridge, while Cambodia’s Prasac Microfinance implements Oracle’s Flexcube.

Broadridge chosen for cash solution by DBS

Singapore’s DBS Bank has selected Broadridge City Networks’ Proactive Reconciliation solution across Asia. Broadridge’s cash solution provides configurable modules for internal and external reconciliation across cash, payments and multi-asset capital markets transactions and a liquidity management solution at the same time.

“DBS selected Proactive Reconciliation due to its clear and competitive pricing, positive user feedback in the region and the fact that its screens and configuration tools are user-friendly and easy for new users to understand quickly,” said Ong Chin Cheong, assistant vice-president of technology and operations at DBS, in a statement. “The bank favours a fixed-price approach as it shows the vendor is committed to winning the business, and we believe that it also minimises implementation risk. It is important that we avoid implementation delays or the costs escalating beyond budget.”

According to Akhter Khan, Asia managing director at Broadridge City Networks, the project took three months to complete.

Prasac selects Oracle’s core banking solution

Cambodia’s Prasac Microfinance Institution has implemented Oracle’s Flexcube core banking solution in 79 of its branches throughout the country, with additional branches to be added in progression. Oracle has centralised Prasac’s operational offices and in turn Prasac now provides online banking to its customers.

“Prasac was an early adopter of Oracle Flexcube in Cambodia; we made our choice at the same time as the National Bank of Cambodia. Oracle Flexcube is enabling us to expand our product offerings very quickly, helping us add new customers and services as we transform ourselves,” said Sim Senacheert, president and chief executive at Prasac, in a statement. “Oracle Flexcube has the capability to effectively support microfinance institution requirements such as enabling small value transactions, managing multiple interest rates and group lending.”

New payments solution offered by AMSI for androids

Advanced Merchant Solutions (AMSI) has launched a complete payment solution that swipes credit cards and prints receipts for android tablets. The solution called Pocket Verifier Professional comes along with the company’s Pcket Spectrum Plus system.

“With over 600,000 [Samsung] Galaxy Tabs being sold in the first month, we believe that tablets are the next big movement in the mobile industry and we plan on being there for our mobile merchants even as new innovations arise on a daily basis,” said Blaine Leckett, chief technology officer at AMSI, in a statement.

The new solution is also available in the android marketplace and is a free application enabling merchants to accept credit cards on-the-go.

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