ensemble, a provider of business and technology solutions for financial industry, has announced that the Overseas Union Bank (OUB) has chosen SunGard Business Integration solution to provide the core component of its new consolidated payment centre.
According to Richard Shaw, director of ensemble, the payment centre will handle both inbound and outbound transactions and is part of a two-phase project at OUB that involves SunGard Business Integration`s MINT knowledge solution.
The solution has been implemented to enable the bank to improve business flow management, mitigate operational risk and achieve straight-through processing.
"The MINT knowledge solution assists OUB in meeting its goals by providing fast and secure processing of financial transactions, both internally and with third parties, across all channels to ensure accurate transmission of information and superior customer service," says Nicholas Chong, executive VP at OUB.
"The decision to go with SunGard Business Integration is part of OUB`s overall commitment to provide customers with fast and secure processing of their financial transactions as well as faster delivery of new products and services. Our ability to provide business to business connectivity by utilising industry pipelines such as SWIFT will give straight through processing capabilities for internal transactions, leading message transformation, enrichment and routing functionality that will assist in streamlining the banks processes," continues Chong.
"By supporting OUB in their quest to manage the complex business and routing rules that are essential to payment centre functionality, the gap between proprietary, industry and vendor data standards can be bridged," concludes Shaw.
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The Overseas Union Bank
The Overseas Union Bank (OUB) is a premier consumer bank in Singapore and a leading regional bank. The OUB Group has an extensive network of 71 offices in 16 countries. Since it first started business in Singapore in 1949, OUB has grown from strength to strength to become the fourth largest Singapore bank and the fifth largest commercial bank in ASEAN in terms of shareholders` equity. Its group shareholders` funds stand at S$4.72 billion and total assets amount to over S$39 billion (figures as at end 1999). The OUB Group provides a full range of consumer and corporate banking, corporate finance, treasury, international banking and investment banking services. The Group has subsidiaries and associated companies engaged in a diverse range of financial and non-financial activities. These include stockbroking, investment management, general and life insurance, trustee services, nominee and custodian services, property development and management as well as hotels and hotel management. More information on OUB can be found at http://www.oub.com.sg
ensemble, established in 1996, is focused on providing business aligned IT Solutions to the Banking and Finance sectors in the Southern African region During 1998, Wang Global Africa (now Getronics) acquired a 51% majority share-holding in ensemble, in order to enhance the offer of its Solution Integration Division. ensemble`s major technological value lies in its vast knowledge of Relational Databases, Object Orientation, Microsoft technology and the latest Internet and Intranet development tools and packages. With its current structure and alliances, ensemble has access to many IT professionals, best of breed packages and frameworks, countrywide roll-out and deployment, helpdesk infrastructure, as well as a solid financial backbone.