International Bytes

NIB Capital Bank to develop a global electronic payment solution using Fundtech products; SEB Merchant Banking signs an agreement with Nordic Financial Systems to produce treasury solutions for corporate clients worldwide; JCB International and United Overseas Bank have launched the first credit card to offer benefits from all the retail tenants in a Singapore shopping center.

NIB Capital Bank of The Netherlands is taking its payment process global with the PAYplus electronic payment solution from Fundtech.

NIB Capital Bank in The Hague has extended the services, functionality, and user expertise of its local implementation of Fundtech's PAYplus product to its agency branch network worldwide.

In 2001, NIB selected PAYplus to automate both its high and low value payments in the Netherlands as well as all multi-currency cross border traffic. It has since extended the solution's processing capabilities to its branch network. This allows NIB to lower unit costs, through increased volumes and economies of scale, as well as effectively control and monitor NIB's global payments flows.

NIB's successful adaptation of PAYplus to its domestic electronic payment operations in the Netherlands prompted the bank to choose Fundtech's PAYplus solution when it came time to expand operations to London, the second vital office for the bank. Additionally, the bank plans to begin processing payments for its Dutch Antilles branch by the end of 2002.

"Fundtech has allowed us to replace several payments systems with one global infrastructure that automates our payment processes in all locations," said Han Joosten, head of Payments and Settlements for NIB Capital Bank. "We are working with Fundtech to automate payment systems in our three key regions outside the Netherlands--London, Singapore and the Dutch Antilles."

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SEB Merchant Banking, Sweden, has signed an agreement with Nordic Financial Systems (NFS), a provider of technical and business integration services to the treasury industry, to develop treasury solutions for corporate clients worldwide.

NFS will work with SEB corporate clients to implement and develop tailor-made solutions and other services already provided by the Bank. Trading Station Interface (TSI), the engine that drives the online trading platform Trading Station, is an example of a trading solution that NFS can help clients integrate with existing systems.

SEB, one of the leading corporate banks in Scandinavia, chose NFS because of its expertise and focus in the treasury market. The arrangement will allow SEB clients to explore new possibilities using SEB's technical solutions.

"The relationship between NFS and SEB has one common goal: to add value for SEB corporate clients," said Niklas Blide, head of E-TCM Sales, SEB Merchant Banking. "NFS' knowledge of SEB products, our business, our customers' needs and the treasury market in general is excellent. Should our clients require assistance to further integrate our treasury solutions into their business, we are confident that NFS has the know-how to do that."

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JCB International, Bugis Junction and United Overseas Bank have launched the Bugis Junction JCB Card, the first credit card to offer benefits and savings from all the retail tenants in an entire shopping center in Singapore.

The Bugis Junction JCB Card is the first credit card in Singapore that not only offers a point-based loyalty program on IC chip but also discounts and privileges from an entire shopping center and a hotel establishment.

Traditionally perceived as a credit card brand for the Japanese, JCBI is poised to take on a larger share of the local credit card market. The launch of the Bugis Junction JCB Card is just one step in a wider strategy that will roll cards out addressing specific payment areas.

"Our aim is to offer our partners support not available elsewhere, and to establish our relationship with the local market through synergistic collaboration with our partners," said Yukio Sawada, general manager of JCB International Singapore.