Payment news, January 4

FRSGlobal makes reporting solution available to foreign banks in Japan, while BPI selects payment system from Hypercom.

FRSGlobal reporting solution made available to foreign banks in Japan

Global provider of compliance and risk management solutions FRSGlobal has announced the incorporation of regulatory and legal reporting into its regulatory reporting solution for foreign banks in Japan. ANZ and two other global banks have already subscribed to this reporting solution as part of their multi-regulatory reporting frameworks.

“The regulatory reporting framework in Japan is notoriously difficult to manage from a foreign bank perspective, so we are very pleased that we can provide a fully functional reporting solution that addresses this market’s specific pain points,” said Stephen Thurley, vice-president for Asia-Pacific and Japan at FRSGlobal, in a statement. “With an established team and on-the-ground support we are able to provide an ongoing commitment to help our customers keep the regulatory reports in the countries we support up to date. We look forward to seeing further growth in this territory.”

The solution automatically extracts data from the firm and automates report compilation, saving time and reducing costs. In addition it facilitates dual language, English and Japanese, and is fully extendable to other reports in Japan or to other countries.

Hypercom wins mandate from Bank of the Philippine Islands

Bank of Philippine Islands (BPI) has selected a card payment system from Hypercom Corporation. The system called Hypercom Optimum will be implemented through merchants who will be able to connect to BPI’s 800 plus branch offices across the country.

“BPI’s selection of Hypercom is a vote of confidence for our company, speaks of our products’ competitive advantages and reinforces our footprint in this important market,” said Jacques-Herve Maupin, managing director of Hypercom for Asia-Pacific, in a statement.

BPI will be deploying the payment system to merchants in the Philippines in a three-year rollout.

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