Banking Archives - Page 16 of 17

Trintech Enhances Its Enterprise System of Accounting Intelligence with Release of Cadency 9.0

Cadency 9.0 launches leading financial close automation capabilities focused on greater usability, highly configurable and transparent workflows, stronger integration and expanding AI capabilities

Trintech, a leading global provider of integrated Record to Report software solutions for the office of finance, today announced the release of Cadency 9.0. The latest update to Cadency’s comprehensive System of Accounting Intelligence offers new, innovative support for transaction and account reconciliation, journal entry, systems integrations, artificial intelligence and overall usability for large enterprises.

“As our customers continue to focus on agility and sustainability during this time, the enhancements we have made in Cadency 9.0 deliver greater controls, enhanced visibility, increased efficiencies and certainty of accurate financial reporting that our large enterprise customers demand,” said Michael Ross, Chief Product Officer at Trintech. “We’ve continued to heavily invest in Cadency’s System of Accounting Intelligence to ensure these enterprises have the visibility and control to manage every aspect of the financial close from one central cloud-based platform, whether they are in the office or working remotely.”

As a central part of the update, Cadency 9.0 consists of several foundational enhancements to improve the Cadency user experience; providing intuitive, easy-to-use and standardized functionality that drives greater efficiencies in your daily workflows. A new, collapsible sidebar navigation allows users to navigate to any page with a single click, reducing the overall time spent navigating between pages. In addition, the reporting experience has also been enhanced with streamlined navigation, search, edit, export, view, and run/schedule capabilities to reduce the time and effort of generating reports.

Cadency 9.0’s transaction and account reconciliation enhancements are designed to enhance the speed, accuracy and transparency for what ultimately creates the foundation of a reliable financial statement. Customers will gain greater visibility into overdue journals, decreasing overall financial risk by ensuring SLA’s are being enforced per policy and the journals are approved on time. In addition, the introduction of Aged Item Email Notifications will provide greater transparency and control into the management of reconciliations.

Trintech has also made extensive investments in its System of Integration with the addition of two new APIs, Cadency GL Reconciliations API and Cadency Close Task Field API. These integration and automation capabilities increase your organization’s efficiency by reducing the manual period-end close activities and time spent supporting an audit, reduce your cost as fewer manual hours are spent on task management and audit preparation, and reduce the risk of a miss in an audit or key control by requiring supporting documentation on those critical tasks.

Lastly, in order to provide our customers with additional controls into computing actionable risk ratings on their journals, we have further invested in our Financial Controls AI(TM) capabilities with the addition of 3 new evaluation criteria to our Risk Rating Engine (RRE): Intra-company transactions, topside Journal Entries and period-end adjustments.

Cadency(R) is the only System of Accounting Intelligence that combines all financial close activities into a single, seamless process, including operational matching, intercompany transaction management, balance sheet reconciliations, journal entry management, close task management, compliance and reporting.

About Trintech

Trintech Inc., a pioneer of Financial Corporate Performance Management (FCPM) software, combines unmatched technical and financial expertise to create innovative, cloud-based software solutions that deliver world-class financial operations and insights. From high volume transaction matching and streamlining daily operational reconciliations, to automating and managing balance sheet reconciliations, intercompany accounting, journal entries, disclosure reporting and bank fee analysis, to governance, risk and compliance – Trintech’s portfolio of financial solutions, including Cadency(R) Platform, Adra(R) Suite, and targeted tools, ReconNET(TM), T-Recs(R), and UPCS(R), help manage all aspects of the financial close process. Over 3,500 clients worldwide – including the majority of the Fortune 100 – rely on the company’s cloud-based software to continuously improve the efficiency, reliability, and strategic insights of their financial operations.

Headquartered in Dallas, Texas, Trintech has offices located across the United States, United Kingdom, Australia, Singapore, France, Ireland, the Netherlands and the Nordics, as well as strategic partners in South Africa, Latin America and Asia Pacific. To learn more about Trintech, visit www.trintech.com or connect with us on LinkedIn, Facebook and Twitter.

Media Contact:
Kristina Pereira Tully
Vested
650-464-0080
trintech@fullyvested.com

SOURCE: Trintech, Inc.

Industry-Leading Enterprises Continue to Choose Trintech to Automate their Record to Report Process

Organizations looking to embark on or continue financial transformation projects partner with Trintech including ABB, Covestro and DXC Technology

Trintech, a leading global provider of integrated Record to Report software solutions for the office of finance, today announced that industry-leading organizations are continuing to partner with Trintech to automate the Record to Report process. As these complex organizations focus on scaling their business and face the new challenges of the pandemic era, they demand a seamless, integrated, and configurable solution with end-to-end encryption, supporting 100s of ERP instances including SAP(R), Oracle(R) and NetSuite(R). Trintech counts the majority of the Fortune 100 among its client roster.

“We have seen our clients pivot quickly and realize the benefits of having a comprehensive solution in place that supports a fully-operational virtual ecosystem,” says Teresa Mackintosh, CEO of Trintech. “As any organization serving large enterprises knows – and this is especially true right now – you need to be able to offer more than point or narrow solutions. You need a consistent partner with a comprehensive end-to-end solution that can work remotely with existing ERPs and handle real complexities in scale, performance, security, diversity, and regulatory and geographic requirements. We call it “Enterprise Grade” financial accounting software, and this enterprise expertise is at our core.”

Trintech’s Cadency solution is the only System of Accounting Intelligence (SOAI) that combines end-to-end financial close activities into a single, seamless process, including operational matching, intercompany transaction management, balance sheet reconciliations, journal entry management, close task management, and compliance. In addition, it leverages innovative technologies, such as Artificial Intelligence (AI), Risk Intelligent RPA(TM) (RI RPA), and ERP Bots for further efficiencies and to support your financial transformation journey as your business evolves and grows.

“We are finding that more and more large enterprises are discovering the value of choosing a firm that is more than a vendor — a consistent partner who provides reliable industry expertise and a complete, end-to-end solution that can scale with their growth,” said Russ Hubbard, Chief Revenue Officer of Trintech. “A perfect example of this is a client of ours, a Fortune 10 premier health innovation company that went through a $70B merger and chose to replace BlackLine with Cadency. They believed Cadency was the only solution that could standardize and transform their financial processes globally as they combined their retail and insurance organizations.”

DXC Technology, an organization resulting from the merger of Computer Sciences Corporation and Hewlett Packard Enterprise’s Enterprise Service segment, also chose Trintech’s Cadency solution, displacing BlackLine, for over 3,000 global users. The firm needed a solution that could integrate seamlessly with SAP(R) and provide full visibility and control across the entire global organization rather than merely implementing a workflow tool. DXC Technology has implemented Cadency Reconciliation Certify, Close, and Journal Entry and has also started to deploy Trintech’s ERP Bots to gain further efficiencies.

In order to improve its R2R process, ABB partnered with Trintech and Capgemini to implement Trintech’s Cadency solution in support of new processes, a drive for automation, and significant change management. After choosing to implement Cadency over BlackLine, ABB has achieved a single, standardized approach to balance sheet management on a global scale. Reconciliations have required less manual effort due to increased automation and the application of a risk-based strategy. ABB is now able to focus on the risk rating of their balance sheet, with high-risk accounts, such as bank accounts, being reconciled each month with low risk accounts on a less frequent reconciliation cycle.

Furthermore, a global, industry-leading office experience solution provider and a Fortune 150 real estate firm both recently came to Trintech from BlackLine, needing a more complete Record to Report solution with a proven compliance framework ideal for large enterprises. In another instance, a Fortune 20 retailer who previously used the BlackLine solution as a workflow tool for their account reconciliations decided to implement Trintech’s Cadency solution to support a broader financial transformation initiative that extended well beyond their limited BlackLine implementation.

“We don’t provide a one-size-fits all solution, and that’s by design – a truly effective solution for the office of finance shouldn’t be,” said Mackintosh. “The needs and requirements of mid-sized organizations versus large enterprises are vastly different which is why Trintech has invested in two solutions, Adra and Cadency, to ensure we provide our customers with the most effective solution for their organization. When a competitor has only one solution to offer, it often means sacrificing a customer’s requirements versus providing solutions built specifically to a customer or market’s unique needs. As we continue to see Adra gain traction in the North American market, we’re confident we’ll see Trintech succeed in competitive displacements in the mid-market segment going forward as we are observing in the Enterprise market.”

About Trintech

Media Contact:
Kristina Pereira Tully
Vested
650-464-0080
trintech@fullyvested.com

SOURCE: Trintech, Inc.

Myanmar Citizens Bank to issue MPU-JCB Co-Branded Debit Card in Myanmar

Myanmar Citizens Bank (MCB Bank), a listed company on the Yangon Stock Exchange in the Republic of the Union of Myanmar (Myanmar), and JCB International Co. Ltd. (JCBI), the international operations subsidiary of JCB Co., Ltd., announced that MCB Bank will start to issue MPU-JCB Co-Branded Debit Cards as of June 2020.

The MCB MPU-JCB Co-Branded Card combines the MPU brand and JCB brand with the MCB brand, a strong and trusted banking brand in Myanmar. Cardmembers can use MPU’s nation-wide merchant network in Myanmar and JCB’s international merchant network with over 34 million locations globally.

The new MCB International Debit Card offers 2 different card types, Platinum debit card and Classic debit card. All the cardmembers can enjoy JCB privileges such as discounts at over 150 merchants in Yangon and also at an extensive merchant network around the world. JCB also provides lounge services in the city centers of several famous travel destinations such as Tokyo, Kyoto, Singapore, Hong Kong, Bangkok, Seoul, Taipei and Paris.

In addition to the above, the Platinum cardmembers can enjoy exclusive JCB Platinum services such as JCB Platinum airport lounge service for free at 61 lounges worldwide.

Takeshi Fujii, Chief Representative of JCB International (Thailand) Co., Ltd. (Yangon Branch) commented, “Myanmar is one of the most important countries for our global business expansion with the number of JCB cards in Myanmar now reaching 2 million. We would like to contribute significantly to the vision of a cashless society in Myanmar through this new tie-up venture with MCB”.

Mr Godfrey Swain, CEO of MCB Bank commented, “I am delighted to announce the launch of Myanmar Citizens Bank MPU JCB Co-branded Debit card to support the needs of our customers with convenience of cashless transactions domestically in Mynanmar and internationally. The card can be used for all face-to-face and ecommerce payments as well as for ATM transactions. Our customers will enjoy the extensive range of merchant discounts and benefits that come with the card, please visit Myanmar Citizen Bank website for more product information. The launch of this card is another step forward in realizing the transformational vision of MCB Bank, a project that commenced in 2019 and is designed to transform the Bank by the year 2023.

About MCB

Established in 1992, Myanmar Citizens Bank is one of the first private commercial banks in the country, the first bank to be listed on the Yangon Stock Exchange and enjoys one of the fastest growth rates in Myanmar within the banking sector. MCB, a Bank with a traditional focus on Commercial and SME segments, is now rapidly expanding its Corporate and Retail banking arms distributing innovative and competitive products and services through a network of nearly 50 branches covering 26 cities in Myanmar. In 2019 MCB signed a wide-ranging, long term consultancy and partnership agreement with the International Financial Corporation (IFC), an arm of the World Bank, embarking on a three-year transformation journey to modernize and build its banking operations, product and service offerings as a best in class model, meeting and exceeding international banking standards, efficiency levels and customer service. For more information, please visit: https://www.mcb.com.mm

About JCB

JCB is a global payment brand and a leading credit card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. Its acceptance network includes about 34 million merchants as well as cash advance locations around the world. JCB cards are now issued in 24 countries and territories, with more than 140 million cardmembers. As a comprehensive payment solution provider, JCB commits to providing responsive and high-quality service and products to all customers worldwide. For more information, please visit: www.global.jcb/en/

JCB (Head Office in Japan)
Contact: Kumiko Kida, Ayaka Nakajima
Email: jcb-pr@jcb.co.jp
Phone: +81 3 5778 8353

Migom Global Corp. Announces the Acquisition of Migom Bank

Migom Global Corp. (OTC: MGOM), a US publicly traded company focused on building synergistic ventures in international banking, has notified the SEC of the acquisition of Migom Bank (www.migom.com), an international full-service ‘neobank’ domiciled and regulated in the small Caribbean state of Commonwealth of Dominica.

“Today, businesses across multiple jurisdictions and industries have faced numerous hurdles opening and maintaining simple operating bank accounts. Arbitrarily frozen funds, suddenly blocked accounts, and other previously rare limitations have become a commonplace occurrence in daily banking for many regular businesses. This type of practice is often disguised as “de-risking” in the name of compliance, which in itself has morphed from the necessary but secondary function into a universal shroud weaponized by some of the mainstream banks in their purge of unwanted business,” stated Thomas Schaetti, the President of Migom Global Corp.

He continued: “In reality, those large international banks seem to be simply discriminating small and medium-sized, transaction-heavy businesses, which they don’t see as a profitable market. As the result, millions of unbanked or under-banked entrepreneurs have a hard time growing their companies and contributing to the economic development of their industries and regions. We identify ourselves with these companies and are making our best effort to position Migom Bank as the destination financial institution serving their needs around the world”.

Migom Global Corp. aims to bridge the gaps in international banking by building a network of banks and affiliated businesses to provide seamless integration of traditional regulated banking with new-age financial services and emerging fintech solutions. Committed to solving the problem of under-banked businesses and individuals worldwide, the Company recently notified the SEC of the acquisition of 100% of the shares of Migom Bank, a full-service global bank for the digital age that is available to customers across a variety of industries and regions.

Migom Bank offers a full suite of e-banking services tailored to the needs of small businesses and entrepreneurs, including online account opening, holding and operating corporate and individual bank accounts with full online access to account management and detailed reporting, international SWIFT / SEPA transfers in multiple currencies, issuing prepaid debit cards, certificates of deposit, investment, savings accounts and other services. The regulatory information enumerating multiple services provided by the bank is published on its website.

In addition to providing traditional banking services, Migom Bank offers its account holders one of a kind crypto-to-fiat and fiat-to-crypto OTC functionality, including secure custody and instant-execution trading of crypto assets with unlimited liquidity volumes, best global spot prices and immediate availability of funds or crypto assets. Migom Bank account holders can seamlessly transfer fiat funds into crypto assets and back using their mobile app or account dashboard online.

About Migom Global Corp.
Migom Global Corp. is a US publicly traded company (OTC: MGOM) building synergistic ventures in international banking, securities brokerage, electronic money distribution as well as digital assets origination and market making. The Company is developing the network of affiliated businesses in several countries, which may provide a seamless integration between the traditional regulated banking and financial services and the innovative emerging fintech solutions, benefiting consumers and businesses worldwide.

About Migom Bank
Migom Bank is a global neobank focused on the emerging markets offering a full suite of e-banking services tailored for the needs of small-to-medium-sized businesses and entrepreneurs. Migom Bank is fully licensed to provide retail depository and inter-banking services, full suite of cryptocurrency-related services, securities dealing and investment banking services, featuring deal-oriented compliance, higher private banking limits and custom-tailored flexible solutions to help its versatile international clientele. For more information, please, visit http://migom.com.

Media contact:
PR Department, Migom Bank
E: info@migom.com
W: https://migom.com

The First Shanghai, Hong Kong and London Listed Chinese Insurance Company, CPIC’s GDR Trading Debut on the Shanghai Segment of the Main Market of London Stock Exchange

At London time 9 a.m of June 17th, China Pacific Insurance (Group) Co., Ltd. (hereinafter referred to as “China Pacific Insurance” or “Company”, stock ticker: CPIC) was successfully listed and commenced trading on the Shanghai Segment of the Main Market of London Stock Exchange (“LSE”), with an issue price of USD$17.60. China Pacific Insurance officially becomes the first Chinese insurance company to issue GDRs and the first ever A+H+G (Shanghai, Hong Kong, London) listed insurance company.

China Pacific Insurance’s GDR issuance has achieved a number of innovative breakthroughs under the Shanghai-London Stock Connect, being the first GDR to adopt Chinese Accounting Standards, to introduce cornerstone investor mechanism, to receive public float waiver as an non-Europe company, and to adopt online “virtual listing ceremony” between Shanghai and London. Mr. Kong Qingwei, chairman of the Board of Directors and executive Director of China Pacific Insurance said, “The successful issuance and admission of CPIC GDR in London Stock Exchange will not only serve as a milestone in the company’s history, but also become a symbolic event of “mutual trust, support, connect and interaction” between eastern and western capital markets. Chinese insurers need to learn from international peers, while China, given its prosperity and stability, is a perfect choice for global investors”.

Since its establishment 29 years ago, China Pacific Insurance has undergone milestones and key changes such as A+H listing, and industry leading transformations. The Company focuses on insurance business as its core, and promoted balanced growth across business segments with full range of insurance licenses. China Pacific Insurance strives to build competitive insurance expertise, and grow into a large composite insurance group with robust capital position, strong value creation capability, and excellent risk control level.

As one of the most influential insurance companies, the issuance of GDR is a strategic decision for the Company to support the country’s opening up of its financial market. It is an important step to strengthen Shanghai’s status as an international financial center. The successful issuance of GDR allowed China Pacific Insurance to further improve its corporate governance, deepen its business reform, and enhance its core competitiveness as well as its position in the capital market. It marked an important milestone for the bilateral opening of China and the UK’s capital markets. Industry experts commented that China Pacific Insurance’s GDR issuance has benefited from China’s financial reform and opening up. The Company is expected to provide a valuable example for A-share listed or insurance listco to embrace the core global capital market through Shanghai-London Stock Connect.

China Pacific Insurance Obtained The Approval of the GDR Prospectus, The First GDR Issuance of the Insurance Industry Has Entered Into the Countdown

The GDR issuance of China Pacific Insurance (Group) Co., Ltd. (hereinafter referred to as “China Pacific Insurance” or “the Company”), has attracted tremendous market attention as it makes progress on its London Stock Exchange listing. On June 13, China Pacific Insurance announced on three major platforms; the Shanghai Stock Exchange, the Hong Kong Stock Exchange and the London Stock Exchange, that the prospectus of the Issuance (the “GDR Prospectus”) was approved by the UK Financial Conduct Authority on 12 June 2020 (London time). Prior to this, the Company announced on 2 June that the GDR issuance was approved by the China Securities Regulatory Commission and the Company entered into a cornerstone investment agreement with Swiss Re Principal Investments Company Asia Pte. Ltd (“Swiss Re”). On 10 June, the Company announced the intention to float on the London Stock Exchange. Following the successful GDR issuance on London Stock Exchange, China Pacific Insurance will become the first Chinese insurance company to issue GDRs and the first A+H+G (Shanghai, Hong Kong, London) listed insurance company.

According to the related announcement, China Pacific Insurance intends to base offer no more than 102,873,300 GDRs, each of which represents 5 A-shares of the Company. In addition, the stabilisation manager can exercise the over-allotment option with no more than 10,287,300 additional GDRs, which do not exceed 10% of the base offering. The price range of the GDRs under the Issuance is preliminarily set between US$17.60 and US$19.00 per GDR. The offer period of the GDRs under the Issuance is from 12 June 2020 to 16 June 2020 (London time). Assuming the maximum number of GDRs of the proposed Issuance is achieved and the over-allotment option is fully exercised, the gross proceeds of the GDR Issuance will amount to between US$1.99 billion and US$2.15 billion. According to the regulatory rules, the GDRs issued cannot be converted into underlying A shares within 120 days from the date of listing.

The approval of the GDR Prospectus indicates that China Pacific Insurance’s GDR issuance has entered into the final stage of the process. China Pacific Insurance believes that the issuance of GDRs will provide global investors with the opportunity to participate in the growth potential of China’s booming insurance sector, which has increasingly been opening up in recent years. This Offering will broaden the Company’s access to global capital market as well as further one of its core strategies, Transformation 2.0. According to the issuance plan stated in the announcement, China Pacific Insurance hopes the issuance of GDRs will expand its high-quality investors worldwide, diversify its shareholder structure and continue to enhance its corporate governance. The issuance price range is determined according to the Company’s fundamentals and the evaluation of investors, the Shanghai-London Connect regulatory requirements, the domestic and foreign capital market conditions and the issuance risks.

Founded in 1991, China Pacific Insurance is going to celebrate its 30th Anniversary in 2021. As a leading insurance group in China with one of the most prestigious brands in the industry, China Pacific Insurance continues to showcase its outstanding performance. According to China Pacific Insurance’s first quarter financial report for 2020, the Company achieved operating revenue of RMB138.211 billion, representing a year-on-year increase of 3.8% and realized net profit attributable to equity holders of the Parent Company of RMB8.388 billion, up 53.1% on year-on-year basis. Recently, China Pacific Insurance published its 2019 annual dividend payment implementation announcement, which declared distribution of its annual cash dividend of 1.2 yuan (tax included) per share. According to professional research institutions, the China Pacific Insurance’s GDR issuance is expected to improve the Company’s corporate governance as well as help attract investors with potential strategic synergies or business cooperation. Meanwhile, the GDR listing will help the Company build an offshore US dollar fundraising platform and enhance the Company’s international layout focusing on the insurance industry value chain. The listing will also introduce Swiss Re, who has a long-term cooperative relationship with China Pacific Insurance, as a cornerstone investor and create favourable conditions for building a stronger partnership between the two parties. With the UK regarded as the birthplace of the modern insurance industry, China Pacific Insurance is honoured to be listing in the London capital markets for its 30th anniversary. The Company is looking forward to a bright future and to impress the world with its continued market expansion.

The first A+H+G insurance company is ready to embark on its journey: CPIC discloses intention to float at the London Stock Exchange

After successively obtaining approval from the China Banking and Insurance Regulatory Commission and the China Securities Regulatory Commission, China Pacific Insurance (Group) Co., Ltd. (hereinafter referred to as “China Pacific Insurance”, stock code: SH601601; HK02601) announced on June 10, 2020 that it had issued the Intention to Float (“ITF”) to list Global Depositary Receipts (GDR) on the London Stock Exchange. The issuance of the ITF implies that China Pacific Insurance has received greenlight from both domestic and overseas regulatory authorities for the GDR issuance, and has taken a major step towards listing. Post the completion of the issuance, China Pacific Insurance will be the first Chinese insurer to list simultaneously in Shanghai, Hong Kong and London. Meanwhile, the GDR issuance of China Pacific Insurance will become the second westbound issuance under the Shanghai-London Stock Connect, marking a material advancement in the bilateral cooperation of the China’s and UK’s capital markets, and another milestone in the globalization of China’s capital market.

According to the Intention to Float, China Pacific Insurance intends to issue up to 113,160,600 GDRs with each GDR representing 5 A shares of the company. The GDR issued is expected to be listed in the UK and traded on the Shanghai-London Stock Connect segment of the Main Market of the London Stock Exchange. Since the subscription of GDR issued is limited to qualified investors under relevant domestic and foreign regulatory rules, the Intention to Float is not published for domestic investors. UBS AG London Branch and Huatai Financial Holdings (Hong Kong) Limited are acting as Joint Global Co-ordinators and Joint Bookrunners for this issuance.

The decision to issue GDR on the London Stock Exchange marks a key step for China Pacific Insurance to execute “Transformation 2.0” strategy, enabling it to further optimise its shareholding structure, corporate governance, and expand its international presence. The GDR issuance will not only be an important milestone at China Pacific Insurance’s 29th anniversary, but will also effectively promote economic and trade cooperation between China and the UK, and fully demonstrate the opening up of China’s capital market to the world.

MB Bank turns to Software AG to revolutionise the banking experience

In order to grow alongside market demand, we needed to ensure that tasks are completed swiftly and smoothly. We decided to bet on Software AG’s webMethods to gain end-to-end control and visibility of our processes, and better align our business with IT. — Hoc Nguyen Xuan, CIO of MB Bank.

Software AG (Frankfurt TecDAX: SOW), a leading enterprise software company, announced that it has been working with Vietnam-based Military Commercial Joint Stock Bank (MB Bank) to help them navigate increased consumer demand and future-proof business operations in today’s digital world through Software AG’s webMethods solutions.

With 15,000 employees and 4 million clients across Vietnam, Cambodia, Laos and Russia, MB Bank had to step up in providing customers with high-speed online services, while continuously improving business processes to support compliance. With rapid consumer demand, manual intervention was no longer a feasible option, given the time-consuming process of onboarding new customers. Additionally, the lengthy loan approval process translated to a high possibility of the bank losing potential customers to faster, more agile competitors.

Focused on building a computerised business process management system that could streamline and centralise its processes while ensuring adherence to local regulations, MB Bank has recognised the need for stronger capabilities that ensure its front-end systems are well-integrated with a back-end core. MB Bank eventually invested in webMethods, Software AG’s powerful application integration suite, upon realising that its future depended on a stable, secure, multi-channel integration platform.

“In order to grow alongside market demand, we needed to ensure that tasks are completed swiftly and smoothly. We decided to bet on Software AG’s webMethods to gain end-to-end control and visibility of our processes, and better align our business with IT,” said Hoc Nguyen Xuan, CIO of MB Bank.

While the bank initially invested in webMethods Business Process Management Suite (BPMS) to help tie together its many disparate systems seven years ago, MB Bank recently decided to go with webMethods CentraSite for API management and SOA as well. CentraSite has since enabled the bank to create a central, platform-independent application for defining, storing and describing assets. MB Bank can now reuse data in all its branches and subsidiaries, saving many hours of manual labor. MB Bank processes around 30,000 tasks per day for around 3,000 users through webMethods.

webMethods has helped MB Bank combine all systems and data sources to deliver a comprehensive, trusted view of its business functions while integrating existing and new technologies. This has resulted in optimised processes and improved work efficiency by 40% and a 30% reduction in overall operating costs.

“Asia’s financial services sector is on the cusp of rapid digital transformation. As integration becomes the norm, banks that are able to adapt and become more agile have a competitive advantage,” said Anneliese Schulz, Regional President for Asia Pacific & Japan, Software AG. “We hope to continue empowering financial services institutions such as MB Bank as they focus on optimising processes and bolstering speed in the new era of banking.”

MB Bank will continue to leverage Software AG’s solutions as it continues to scale up, enhancing its end-to-end process management, and integrating data silos across the organisation.

About Software AG

Software AG offers Freedom as a Service. We reimagine integration, spark business transformation and enable fast innovation on the Internet of Things so you can pioneer differentiating business models. We give you the freedom to connect and integrate any technology – from app to edge. We help you free data from silos so it’s shareable, usable and powerful – enabling you to make the best decisions and unlock entirely new possibilities for Growth. Learn more about Software AG and Freedom as a Service at www.softwareag.com.

Media Contact:
PRecious Communications for Software AG
Charlene Pe / Jann Wee / Rajiv Menon
softwareag@preciouscomms.com
+65 6303 0567

Asuransi Jasindo Committed to Settling the Palapa N1 (Nusantara Dua) Satellite Claim

PT Asuransi Jasa Indonesia, or Asuransi Jasindo, is ready to assist the claims process for the launch and in-flight insurance of the Palapa N1 Nusantara Dua Satellite, owned by client PT Palapa Satelit Nusa Sejahtera (PSNS). This was confirmed by Asuransi Jasindo’s Operations Director Dodi Susanto.

“We are truly sorry that the Satellite Nusantara Dua launch failed. We will stand beside our client PSNS, and will assist PSNS especially on settling the claim,” said Dodi.

The Nusantara Dua Satellite launch took place at the Xichang Satellite Launch Center (XLSC), Xichang, China, on April 9. Unfortunately, the Third Stage Launch Vehicle failed and the satellite was lost. As the news was announced, Asuransi Jasindo immediately coordinated both internal and external stakeholders (clients, reinsurance brokers and reinsurers) to handle the claim and to ensure the value of the claim is fullfiled.

“Asuransi Jasindo is in the process of analyzing the information relating to the terms and conditions agreed upon in the insurance policy,” Dodi continued. “Asuransi Jasindo is waiting for further supporting claims documents. These documents will be formally submitted by PSNS as soon as additional information is available.”

“The claims team of Asuransi Jasindo will immediately conduct a claims analysis and coordinate with the reinsurance broker and reinsurers. It is expected that the required data related to the claims will be available in a relatively short period of time,” Dodi said.

Dodi said that Asuransi Jasindo was always committed to settling claims, particularly in such a specialty risk category, in accordance with the terms and conditions of the policy. The claims will be processed in an effective, precise and fast manner.

“We are a state-owned general insurance with experience in handling specialty risk insurance, such as satellite, aviation and offshore energy insurance. Last year alone we completed claims payments of IDR 876 billion for the offshore industry,” Dodi said.

“Since 1976, we have handled the insurance for 20 satellite launches and have settled satellite insurance claims of around USD 567 million.”

Dodi believes that Asuransi Jasindo always prioritizes prudent business processes, including the selection of reinsurers with international ratings and cooperation with global reinsurance brokers that have strong reputations.

Contact:
Ario Radityo
Corporate Secretary
Asuransi Jasindo
+62 81 1118 941

Blue Prism and Pactera Announce Alliance to Bring Intelligent Automation Solutions to Asia and Oceania Based Enterprise Clients

Pactera and Blue Prism (OTC Pink: BPRMF) today jointly announced an alliance via the Blue Prism Partner Engage program to bring robotic process automation (RPA) solutions to clients in the Asia and Oceania region. The two organizations have been collaborating in the implementation of RPA and intelligent automation services across a variety of industries and sectors, including banking, insurance, retail, and manufacturing. This announcement formalizes a relationship to expand the offering of digital workforce services and solutions to their clients across Asia and Oceania initially including the Greater China Region, Australia, Japan, Malaysia and Singapore.

Blue Prism invented the term “robotic process automation” and has been a leading global RPA tool vendor for almost 20 years. Blue Prism software enables organizations to automate manual, rules-based, mission critical processes, thereby helping to reduce costs and improve accuracy through the creation of new “digital workers.” Pactera, as one of the world’s leading IT services and outsourcing firms, has leveraged Blue Prism technology to address a variety of client business issues and opportunities. In addition, Pactera has utilized Blue Prism in internal process improvement initiatives – building and deploying automations to improve both the productivity and quality of its own operations.

“Pactera is very pleased to enter a strategic Asia Pacific & Oceania partnership with Blue Prism, an intelligent automation industry-leader. By linking Blue Prism’s industry-leading RPA solution with Pactera’s broad regional presence and in-depth localized capabilities for IT and consulting, we firmly believe that the new Blue Prism – Pactera alliance will support clients’ business efficiency transformations and bring new value to the marketplace,” stated JinSong Li, Executive Vice President, General Manager of APAC Business Group, Pactera.

“During the past several years, Pactera has implemented a number of key automation projects both with high-profile APAC clients and internally within our own firm. Over the course of these engagements we have learned through hands-on experience that Blue Prism is a platform of choice to scale automation initiatives. The Blue Prism – Pactera alliance well positions Pactera in achieving a goal of becoming a strategic digital automation partner for our Asia Pacific clients,” said Andy Fung, General Manager of Pactera Hong Kong and Program Executive of Pactera’s Intelligent Automation Practice (APAC). “We believe this partnership will further align us on Go-to-Market and up-level implementation capabilities via creation of a Center of Excellence (CoE) covering the stated countries and locations; combining Pactera’s local client intimacy with a robust, scalable offshore resources pool across the geographies.”

“Pactera is a trusted partner for technology and system integration across all of Asia,” remarked Terry Leung, Director, Strategic Alliances, North Asia for Blue Prism. “Pactera’s proven ability to guide organizations through digital transformations, combined with Blue Prism’s best-in-class intelligent automation platform, well positions our partnership to help clients in Asia and Oceania to realize the benefits of augmented digital workforces.”

Pactera holds a leading position in APAC as an intelligent automation implementation service provider given its broad network of Asia Pacific and Oceania practitioners skilled in software robotics and automation. Pactera’s locally-based teams help clients to improve their operations and navigate the challenges of the intelligent automation journey via an ideal mix of strong technical know-how and native, cultural understanding of the Asia/Oceania business environments.

“Blue Prism and Pactera share a common vision for building out the intelligent automation ecosystem in APAC and helping customers to improve operational efficiencies by automating mission critical work processes that can also be easily integrated with best-in-breed AI-enabled technologies and services,” advised Gareth Lane, Head of Alliances, APAC, for Blue Prism. “This alliance is a competitive differentiator and one that will provide tremendous value to the clients we serve.”

About Pactera

Pactera is a Global Technology company with 29,000 employees worldwide committed to delivering Digital-themed consulting, UX interaction, IT implementation and Operations services to customers. Pactera creates business value for Fortune 2000 companies by accelerating business innovation, enabling new growth, improving operational efficiency and transforming the user experience.

CONTACT: bg9_ro_bot@pactera.com

About Blue Prism

Blue Prism’s vision is “A Digital Workforce for Every Enterprise.” The company’s purpose is to unleash the collaborative potential of humans so every enterprise can exceed business goals and drive meaningful growth. Available on-premises, in the cloud, hybrid, or as an integrated SaaS solution, Blue Prism’s Digital Workforce automates end-to-end processes that drive digital transformation. Visit www.blueprism.com to learn more or follow Blue Prism on Twitter @blue_prism and on LinkedIn.

CONTACT: andre.fuochi@blueprism.com