Bank of East Asia’s (Hong Kong) implements Clear2Pay’s Open Payment Framework (OPF) technologyFebruary 16, 2010
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Bank of East Asia’s (Hong Kong) implements Clear2Pay’s Open Payment Framework (OPF) technology
Bank of East Asia’s Enterprise Services Bus live to support bank-wide payments infrastructure
Brussels/ Hong Kong, 16 February 2010 - Clear2Pay, the international technology provider of next generation payment solutions for financial institutions announces that its Open Payment Framework technology is at the core of the Enterprise Services Bus (ESB) that has gone live at Bank of East Asia (BEA) in Shenzhen to support its entire business in China. In this first phase of a move towards a Bank Payment Hub, the Enterprise Bus Server has gone live in Q4 of 2009 to mediate between the various channels, such as Corporate Internet Banking and the Electronic Commercial Bill System and backend systems, covering both the Core Banking System and four other local currency systems.
Bank of East Asia, with over 130 branches in Hong Kong and a further 70 branches and commercial offices in mainland China, operates one of the largest networks of any foreign bank. The bank is widely regarded as a pioneer in the mainland market when it was one of the first foreign banks to be established as a locally incorporated bank in China in 2007, followed by being the first foreign bank to successfully launch Renminbi credit and debit cards in China in 2008.
The person-in-charge and spokesperson of the Shenzhen Development Center, Bank of East Asia, says: “We have successfully implemented our ESB project with Clear2Pay’s Open Payment Framework technology which has delivered a satisfactory and stable system which has fully met its initial goals. This is an important step to us as we are embarking on a wider process of upgrading our payments environment into a bank payment hub with all the business and functional benefits such an exercise brings.”
Warren Gardiner, General Manager Asia Pacific for Clear2Pay adds: “We are delighted to work side by side with an innovative bank such as Bank of East Asia. This project is the kick-off of an entire payment hub overhaul and we are delighted to prove ourselves to them on a phase by phase basis. The bank-wide payment hub will allow the bank to create higher levels of efficiency and in a country with such huge volumes this makes absolute sense and we are very delighted to be at the heart of this project.”
About Bank of East Asia
Incorporated in Hong Kong in 1918, The Bank of East Asia ("BEA") is dedicated to providing comprehensive retail and commercial banking services to its customers in Hong Kong, Greater China, and overseas. BEA is the largest independent local bank in Hong Kong, with total consolidated assets of HK$415.3 billion (US$53.58 billion) as at 31st December, 2008. The Bank is listed on the Stock Exchange of Hong Kong and is one of the constituent stocks of the Hang Seng Index. BEA operates one of the largest banking networks in Hong Kong, with over 130 branches and SupremeGold Centres around town. BEA also operates more than 70 outlets in Mainland China, one of the largest networks of any foreign bank. The Bank is widely regarded as a pioneer in the mainland market over the years.
BEA also operates outlets in the United States, Canada, the United Kingdom, the British Virgin Islands, and Southeast Asia. Worldwide, including Hong Kong and China, BEA has an international network of more than 240 outlets and employs over 10,000 people. In addition to its own branches in Los Angeles, San Francisco, and New York, the Bank serves its North American customers through its New York City-based subsidiary, The Bank of East Asia (U.S.A.) N.A., and The Bank of East Asia (Canada). More information is available on www.hkbea.com .
About Clear2Pay
Clear2Pay is an innovative financial technology company focused on delivering globally applicable solutions for secure, timely electronic payments. Headquartered in Brussels, Belgium, the company facilitates banks and financial organizations in their provision of payments services. Clear2Pay's technology helps to reduce transactions processing costs, and to deliver new, compelling payment services in a competitive way. Clear2Pay's payment solutions offer organisations easy, branded ways for their customers to pay online: from complex trade-supporting business-to-business environments, through e-commerce applications, to retail payments and remittance services. Functions embrace payments origination, reporting, linkage with back-office processing systems, clearing, netting and settlement. Clients include global and major regional financial institutions such as ING, Banco Santander, Crédit Agricole, VISA, MasterCard, BNP Paribas, The Federal Reserve, PBS (Denmark), The People Bank of China (PBOC), Bank of East Asia, ANZ and Commonwealth Bank. Clear2Pay operates out of Belgium, France, the Netherlands, Poland, Spain, United Kingdom, United States, Australia, China, Malaysia and Singapore and currently employs over 500 staff. For more information, please visit www.clear2pay.com.
For more information:
Clear2Pay NV/SA
Conny Dorrestijn - VP Marketing and Communications
Email: conny.dorrestijn@clear2pay.com
M: +31 651 067201
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