Payment news, January 25

CIMB adopts SmartStream's TLM Corona solution for its international business, while Softbank selects Gemalto for its contactless payments pilot in Japan.

CIMB extends application of SmartStream solution

Malaysia’s CIMB Group has created a single enterprise-wide reconciliation platform by replicating the technology of SmartStream’s TLM Corona solution, which it has been using for its Malaysian operations, internationally. The platform will be used for cash reconciliations and investigations for CIMB’s Singaporean and Islamic banking businesses.

“We’ve been successfully using TLM Corona for 11 years and it has met our operational needs perfectly. So when we looked at how we could replicate our success in Malaysia to overseas markets, it made sense to use the same software that is proven to work and has managed our significant growth to date,” said Kenny Kim, group CFO and head of group strategy of finance at CIMB, in a statement. “By extending our use of TLM Corona we are confident that our new operations will benefit from the same efficiency levels that we have experienced in Malaysia, enabling us to concentrate on building successful businesses in those countries.”

Softbank selects Gemalto for payments trial

Japan’s Softbank has chosen global digital security company Gemalto for its Softbank Mobile contactless payment trial in Japan. The trial will enable near field communication (NFC) transactions and, according to Softbank and Gemalto, is the first programme in Asia to do so.

“Japan is the most progressive country in the world when it comes to using the mobile phone for contactless services and Gemalto is delighted to support Softbank Mobile in this new project,” said Tan Teck Lee, president of Gemalto Asia, in a statement. “The advent of NFC in Japan will enable to massively deploy mobile contactless services in payments and other domains like transit, loyalty programmes or couponing.”

Gemalto will provide Softbank Mobile with a turnkey NFC solution that will perform NFC transactions from two credit card issuers -- Orient Corporation and Credit Saison. The pilot is expected to roll out in the first quarter of this year.

Computershare launches web-based settlement service in Hong Kong

Computershare, the Australia-based financial market services and technology provider, has launched xSettle, its web-based cross-border settlement service, in Hong Kong. The service will streamline settlement processes between market participants in Hong Kong and London allowing transactions to be conducted more conveniently and in a cost-effective manner.

“We continue to see strong interest in listing in Hong Kong from a diverse range of international issuers and their advisers,” said Paul Conn, president of Computershare global capital markets, in a statement. “Introducing xSettle complements our global registry service platform and supports our leading position in the Hong Kong market. Given the volume of cross-border business in and out of Hong Kong, this launch makes total sense.”

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