NCS Group Enhances its IT leadership position in China's Financial Services Industry and Expands its Offerings with Exchange Connect Platform
Singapore & Beijing, China, July 18, 2008
NCS Group, a leading information technology and communications engineering service provider in the Asia Pacific and Middle East regions, has announced today that it has implemented the NCS Exchange Connect Platform (ECP) – PowerClear, an in-country foreign currency payment clearing system developed by NCS China for Laishang Bank.
The ECP-PowerClear system is developed on NCS China’s middleware application platform, Exchange Connect Platform (ECP). This is a hassle-free system platform which acts as the interface and connects banks’ back-office applications to the frontend or any other systems within the organization. The ECP-PowerClear system will be officially launched at a later date in accordance with the People’s Bank of China’s nationwide deployment schedule.
With China joining the World Trade Organisation, China’s domestic financial market has to be readily developed to meet the increasing transactional requirements and demands to meet the international financial market standards.
As a leading commercial bank in the Shandong province, Laishang Bank, recognises the business impact and importance of being able to provide financial products and services for in-country clearing and settlement of foreign currency for its customers.
“We are impressed with NCS professionalism and delivery standard throughout the whole implementation process. We are pleased with the overall test result and proud of our choice to partner NCS for the ECP System,” said Mr Chengsheng Zhang, General Manager, International Business Department, Laishang Bank.
Mr Timothy Choon, Director, Financial Services and Insurance, NCS China, further elaborates on the ECP – PowerClear system, “This system is developed on J2EE Web technology that allows flexibility to deploy in a distributed architecture business model to fulfill different customers' requirements.” He added that the system can link with other commercial banks' backend operational system seamlessly, thus satisfying the request for the in-country foreign currency payment clearing service.
Besides the ECP-PowerClear system, NCS has also developed a whole suite of solutions riding on the Exchange Connect Platform. These include the ECP-PowerMessage system and ECP-PowerX system that interface with the Society for Worldwide Interbank Financial Telecommunication (SWIFT) systems and run on SWIFTNet Solutions promptly. These solutions will enable the banks to operate more efficiently and securely, thereby reducing the cost and strengthening the banks’ competitiveness and enhancing the customers' satisfaction. These systems have been implemented smoothly for banks in the eastern part of China.
Mr Lim Eng, CEO, NCS Group said, “NCS has been pursuing the regional financial services and insurance sector aggressively. We are pleased to be ranked by Gartner as the number two IT service provider for Singapore’s demanding FSI industry and we are scaling our ranking in China’s FSI market to being one of the top ten IT service providers in the IDC2007 research of Bank Payment and Settlement Market. NCS will continue to build and develop further competencies to value-add to customers’ business and contribute to the financial industry in China and in the regions.”
The ECP service platform, as well as other FSI solutions, such as the Mobile Branch Automation (MBA) system, which has won the Asian Banker IT Implementation Awards at The Asian Banker Summit 2008, will be showcased at the renowned international financial exhibition, SIBOS, Vienna on 15- 19 September 2008.
NCS Pte Ltd
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NCS is a member of the Singtel Group and the leading information, communications and technology (ICT) service provider with presence in over 20 countries. NCS delivers end-to-end ICT solutions to help governments and enterprises realise business value through digital transformation and the innovative use of technology. Its unique delivery capabilities include consulting, applications development, systems integration, outsourcing, infrastructure management and portal solutions.