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National Bank of Australia installs SunGard eProcess Intelligence products; Bank of New York appoints HSBC its subcustodian in Vietnam; Euroclear and Euronext finalize consolidation to simplify cross-border settlement; AMP Financial Services to use eBusiness application software from Siebel Systems; Thai Military Bank signs software deal with ALLTEL.

The National Australia Bank (NAB) will install SunGard eProcess Intelligence's intelliSTOR, a report mining/optical archiving system, and intelliMATCH, an account reconciliation solution.

The intelliSTOR system features a Web-based front end that enables remote branches to electronically access their own reports from anywhere. The bank will use intelliMATCH to replace current reconciliation systems used throughout their global network.

"NAB is successfully undertaking a group-wide move towards regional centers of technology for software applications," said Peter Cannizzaro, head of operations, Asia Pacific, National Australia Bank. "It is therefore important for us to embrace a new generation of enterprise-wide solutions that can support this strategy. Both intelliMATCH and intelliSTOR fall into that category."


Bank of New York (BONY) has named The Hongkong and Shangai Banking Corporation (HSBC) as its subcustodian in Vietnam.

The agreement will aid in the development of Vietnam's local securities market, and enhance foreign investor access to the region. The nation will be to 101st market serviced by Bank of New York, which is one of the world's largest custodian banks with more than $6.8 trillion in global assets under custody.

"As the globalization of economies continues, BONY leads the way in providing our clients with efficient access to an expanding list of developing markets," said Thomas J. Perna, senior executive vice president, Bank of New York. "HSBC's local market capabilities will enable us to deliver the information-based solutions that our clients need via BONY's state-of-the-art technology infrastructure."


Euroclear Group, one of the world's largest settlement systems for domestic and international securities transactions, and Euronext finalized a consolidation deal that will add CIK and Necigef, the central securities depositories of Belgium and the Netherlands, to Euroclear's network.

Euroclear also announced it was taking a 20% stake in Clearnet, Euronext's clearing company.

The goal of Euroclear Group is to develop a cost-effective cross-border settlement and custody solution for the growing European equities market. The result of this transaction is that Euroclear will now be able to offer seamless settlement across all Euronext markets, which should decrease the average cost of cross-border transactions.

"These agreements represent a major step forward for those of us that believe that Europe's settlement infrastructure must be built on the twin cornerstones of horizontal integration and strong user governance," said Pierre Francotte, chief executive officer, Euroclear Bank.


AMP Financial Services, one of Australia's largest financial and insurance companies, will install eBusiness application software from Siebel Systems.

The software, Siebel eBusiness Applications for Financial Services, will allow the institution to integrate customer information across all contact points, thereby creating a single, comprehensive view of every client.

"We are creating a single window for our customers to the financial world," said Andrew Mohl, managing director, AMP. "By capturing customer interaction in an eBusiness system that is capable of supporting our business across a wide and diverse range of channels, we can exploit our enormous strengths for growth and profitability."


Thai Military Bank Public Co., Bangkok, has signed a five-year software services deal with ALLTEL.

The arrangement will supply the bank's branches with lending, deposit and customer information processes. Thai Military Bank manages assets of about $8 billion and has a network of 361 branches.

"Thai Military Bank plans to dramatically enhance its retail banking capabilities over the next year by streamlining its business processes and implementing world-class technology solutions," said Narathorn Wongvises, first executive vice president for the bank. "The aim is twofold. First, the bank will increase profitability and market share through better products and services. Concurrently, the bank will reduce operating costs by rationalizing workflow and centralizing back-office functions."

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