Bank Chinatrust Indonesia implements solution from Infosys
Bank Chinatrust Indonesia, a subsidiary of Chinatrust Commercial Bank, has selected a core banking solution from India-based technology services company Infosys. The solution, called Finacle, replaced the bank’s legacy system and drives its operations across 13 branches.
“Finacle is a robust and scalable solution offering all the functionality we need to provide a wide and varied portfolio of offerings to our customers from day one,” said Derek Lo, head of global retail operations and information technology at Chinatrust Commercial Bank, in a statement. “This new platform will also enable us to unify disparate systems and reduce turnaround time.”
China UnionPay partners with Elavon
China UnionPay has signed an agreement with Elavon, a payment services provider and subsidiary of US Bancorp. Under the new partnership, Elavon’s merchants in the US and Europe will be able to accept debit and credit cards from China UnionPay customers.
According to MasterCard, China is expected to overtake the US as the largest market for credit cards by 2020. China UnionPay currently issues 2.6 billion cards globally and recently partnered with Citi for card acceptance at Citibank merchants in India, Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam.
Etos selects Reval’s treasury management system
Etos, a treasury services outsourcing firm for New Zealand based companies, has implemented Reval’s web-based treasury management software-as-a-solution (Saas) product. The two companies have also entered into an agreement under which Etos will act as a local reselling partner for Reval in New Zealand.
“Etos are delighted to work with Reval at a time when treasury functions are becoming increasingly more significant and transparent within organisations,” said Richard Eaddy, managing director at Etos, in a statement.
With Reval’s Saas solution, Etos will be able to provide its clients with a range of treasury and risk reporting, derivative valuation and hedge accounting services.
