Neptune builds foundation in Asia
Neptune Software established Neptune Financial Software, a new subsidiary based in Chennai, India, to extend the reach of its Rubikon banking solution in Asia. Rubikon is a new generation universal banking platform designed for financial institutions that includes documentation, payments, treasury and trade finance capabilities. The new subsidiary will act as a hub for regional support and sales at the company.
"Asia is proving to provide fertile ground for Rubikon growth, with a number of wins in the region and a healthy pipeline, therefore reinforcing operations to cover the territory is a natural step for us to take," said Simeon Agu, chairman and chief executive of Neptune Software.
Standard Chartered and Chinese officials partner to promote RMB trade
Following Standard Chartered Bank's extension of renminbi trade services to Asean markets last year, the bank participated in a roadshow through Southeast Asia with the People's Bank of China, the Shanghai Municipal Office of Finance Service and the State Administration of Foreign Exchange to promote trade settlement in the currency. Events were held in Malaysia, Singapore and Thailand.
"The participation of key Chinese officials in the inaugural series of the Standard Chartered Bank renminbi roadshows in Asean demonstrates the tremendous growth potential present in the China-Asean trade corridor," said Jiten Arora, regional transaction banking head of southern Asia at Standard Chartered, in a statement.
During the roadshow delegates met with the bank's clients and local market regulators, including the Bank Negara Malaysia, Bank of Thailand and the Monetary Authority of Singapore. The Chinese delegation shared first-hand updates on the latest developments in renminbi cross-border trade settlement and the potential business opportunities for Asean corporates in China. This was the first time Chinese officials from government and regulatory bodies had ever partnered with an international bank on a roadshow.
HSBC updates regional treasury management guide
The 13th edition of HSBC's Guide to Cash, Supply Chain and Treasury Management in Asia Pacific 2010 was released by the bank last week, analysing a year when cash management became a focal point for businesses throughout Asia and around the world.
"Today, as a consequence of the intense focus applied to working capital and liquidity management over the past 12 months, cash and treasury management has been elevated on the agenda of company boards," said John Laurens, Asia-Pacific head of global payments and cash management at HSBC, in a statement. "The value of the guide to finance professionals will no doubt be similarly elevated as a prime source of up-to-date reference information on cash, supply chain and treasury management."
New to the updated edition is a new section covering technology and connectivity.
Infosys launches treasury-in-a-box
India's Infosys Technologies introduced its new Finacle "treasury-in-a-box" product last week. The company described the solution as a "best-of-breed open technology platform, providing high scalability, flexibility and straight-through-processing capability" in a statement. Treasury-in-a-box supports a wide range of financial products and their derivatives in foreign exchange, money market, fixed income and equities.
"With Finacle treasury-in-a-box, banks have a viable alternative in an easy-to-use, innovative solution that grows with evolving requirements," said Haragopal Mangipudi, global head of Finacle at Infosys Technologies, in a statement. "Rapid implementation with controlled spending is of essence since banks can select the functions that matter the most."
Infosys is one of India's leading technology firms and topped the charts in FinanceAsia's best companies poll last year.