Krung Thai Computer Services (KCS), a subsidiary of Krung Thai bank, is using technology from Belgium-based Clear2Pay to develop a central payments hub.
The software will be implemented to support the bank's Government Financial Management Information Systems (GFMIS)- an automated and integrated payment processing system able to receive and validate payments of any type, size and formats including Bahtnet, media clearing files, corporate and government payrolls, dividends, retirement benefits and super payments.
The Clear2Pay technology was selected by KCS' prime contractor TNIS and provided by the vendor's local partner OGA Syncom.
Khun Wisuit Tassanaim, president, OGA Syncom, says: "The solution when implemented will offer an open yet flexible payment platform that provides all banks and other financial institutions within the GFMIS framework with a completely automated and integrated payments processing system."
The payments infrastructure will go live next year. KCS says its customers will benefit from features such as automated payment repair and a secure Web-based inquiry facility.