BNP Paribas has selected technology from Clear2Pay to build a single payments management platform covering 13 countries in Asia.
The Singapore-based hub will use Clear2Pay's Open Payment Framework (OPF) to handle BNP Paribas's transaction requirements in the region, initially covering Thailand, Taiwan, Korea and Vietnam.
The bank needed a hub that could interface with its channels, a range of internal systems and the various domestic low and high value payment systems, all with their own local language formats and requirements, in the region, says Clear2Pay.
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.
Detlef Von-Eiff, CIO, BNP Paribas Asia Pacific, says: "Implementing this framework will give us a consolidated view of all payment transactions handled by each country in Asia Pacific. It also allows us to enjoy seamless integration with our current applications such as Connexis or Swiftnet in the future, and be able to offer parsing capabilities to other third-party banks."