Payment news, September 14

Bank of China International selects Temenos's T24 private banking solution, while Metrobank implements Opics Plus by Misys for its operations in China.

BOCIL private banking now on T24

Bank of China International Limited (BOCIL), a wholly-owned subsidiary of Bank of China International (BOCI), has launched private banking operations in Hong Kong running on Temenos T24 core banking solution. The complete front-to-back platform will centralise BOCIL’s operations and give BOCI a clear picture of real-time risk exposure.

“We are delighted to be part of BOCIL’s success as they make headway in the Hong Kong wealth management sector, one of the world’s premier wealth management centres and Asia’s largest private banking market,” said Andreas Andreades, chief executive of Temenos, in a statement. “We are seeing a growing global trend among private banks in implementing out of the box solutions which offer the pre-configured, end-to-end functionality to run an agile, low-cost business model compared to custom developed applications.”

Vietnam’s Sacombank went live on Temenos’s T24 solution in April this year.

Metrobank chooses Misys for its China operations

Philippines-based Metropolitan Bank and Trust Company (Metrobank) has licensed Misys’s Opics Plus 2.1 solution for its operations in China. Metrobank required a comprehensive system to provide full treasury functions to support the local business requirements for the Chinese market and Misys’s solution will enable the bank to process high volumes of treasury instruments and provide its clients with sophisticated products.

“We are delighted to be able to work alongside such a long-standing customer as Metrobank and help the business to expand its operations into China where we are seeing great traction for our products and services,” said Lee Boon Huat, Asia-Pacific managing director of Misys, in a statement. “This is an exciting agreement for Misys and we look forward to helping Metrobank take advantage of our leading technology in its Chinese operations.”

The Philippine National Bank selected solutions provided by Misys to expand its treasury business last month.

Trayport and 3i Infotech win Jakarta Future Exchange mandate

The Jakarta Futures Exchange has gone live with a new integrated trading, surveillance and risk management system provided by Trayport Exchange Systems and 3i Infotech. Trayport has already been providing the exchange with its GlobalVision Exchange Trading SystemSM since the beginning of August and this has now been integrated with 3i Infotech’s Awacs surveillance and risk management system.

“The new exchange trading platform allows us to monitor clients’ positions and margin management, market exposure and trading limits,” said Lukas Lauw, head of trading and IT at Jakarta Futures Exchange, in a statement. “We are pleased with the way the systems have been deployed so quickly and effectively. The support by both Trayport and 3i Infotech has been first rate and allowed us to make the change much more easily.”

New real-time features for Hong Kong RTGS

The Society for Worldwide Interbank Financial Telecommunication (Swift), the Hong Kong Monetary Authority (HKMA) and Hong Kong Interbank Clearing Limited (HKICL) have completed the migration of clearing house automated transfer system (Chats) payments to Swift. Swift’s InterAct and Browse have also been added to the teal-time gross settlement platform.

“Our decision to move from a proprietary platform to Swift has been a success for our participating banks because they are able to use one uniform standard to process domestic and international payment messages since phase 1 migration,” said Eddie Yue, deputy chief executive of HKMA, in a statement. “The complete migration further facilitates the interoperability between domestic and international messages, which are conducive to the further development of the multi-currency and multi-dimensional platform in Hong Kong, thus helping consolidate Hong Kong as an international financial centre.”

The HKMA appointed HSBC as the settlement institution for its US dollar clearing system and implemented Calypso’s trading and treasury management system last month.

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