BNP Paribas has selected Clear2Pay's Open Payment Framework to implement a single payments management platform for 13 of its countries in Asia.
The regional Payment Hub will operate from Singapore; in its first phase it will handle all payment requirements for Thailand, Taiwan, Korea and Vietnam.
The regional payment hub project was initiated through the need to have a hub that could interface with BNP Paribas’ channels, a range of internal systems and the various domestic low value and high value payment systems, all with their own local language formats and requirements.
This complexity called for a hub style approach, which would facilitate the internal links, as well as a link to the bank’s settlement system and the various clearing systems.
BNP Paribas Asia Pacific chief information officer Detlef Von-Eiff said that this project is of strategic importance to the group and it will be vital in driving our Asia Pacific cash management business forward in a region which continues to demonstrate a high level of activity and economic growth.