Calypso Technology Partners With China Bank in the Philippines for Its Treasury Transformation Project
Calypso Technology, Inc., the standard for treasury and capital markets software, has signed its first client agreement in the Philippines, furthering its rapid 2015 expansion in Asia Pacific. The onboarding of China Banking Corporation (China Bank), one of the top banks in the country, follows similar successes in China, Hong Kong, and Korea during the last several months.
“At the core of our decision was Calypso’s dedication to understanding our unique business needs. Calypso’s modern technology is highly scalable and will support our business direction and allow us to achieve our aggressive growth targets in the future. Together with its local partner Kris FinSoftware, I am confident that Calypso can bring industry best practices to China Bank while retaining our local feel and expertise.”
— Antonio Espedido, Jr., Executive Vice President & Head of the Financial Capital Markets & Investment Segment, China Bank
By upgrading its treasury system with the Calypso front-to-back trade processing solution, China Bank has reduced its dependence on custom development and the operational risks associated with manual operations.
“At the core of our decision was Calypso’s dedication to understanding our unique business needs,” said Antonio Espedido Jr., Executive Vice President & Head of the Financial Capital Markets & Investment Segment at China Bank. “Calypso’s modern technology is highly scalable and will support our business direction and allow us to achieve our aggressive growth targets in the future. Together with its local partner Kris FinSoftware, I am confident that Calypso can bring industry best practices to China Bank while retaining our local feel and expertise.”
“Collaborating with one of the leading banks in the Philippines in addressing their current issues is such an honor. We look forward to partnering with more banks locally as Calypso and Kris FinSoft continue the efforts to help banks’ treasury businesses,” said Sherrizah Lubigan, Business Development Manager at Kris FinSoftware, Inc.
“It’s always exciting for us to solve the local challenges of banks in a new country, and the core of this project is a software solution that can help the entire region,” said Mark Bell, Regional Manager at Calypso. “We are excited about more banks in the Philippines joining us, and bolstering our commitment to expand our services for the region.”
Calypso Technology continues to make significant investments in the Calypso software product with over 50% of its staff dedicated to research and development. Calypso is a Leader in the Gartner Magic Quadrant for Trading Platforms, and the #1 selling Treasury and Capital Markets Solution for the sixth year running in the 2015 IBS Sales League Table.
About China Banking Corporation
China Banking Corporation (China Bank, PSE stock symbol: CHIB) is one of the largest private universal banks in Philippines providing a full range of banking products and services to corporate, commercial, and retail customers since 1920. Through its subsidiaries, China Bank also offers bancassurance and insurance brokerage services. China Bank and its thrift bank arms China Bank Savings and Plantersbank have a nationwide presence of close to 500 branches and over 700 ATMs. This wide distribution network is complemented with secure electronic banking channels: China Bank Online and China Bank TellerPhone.
About Kris FinSoftware, Inc.
Kris FinSoftware is a supplier of Treasury, Fraud Management, Core Banking, Operational Risk, Wealth Management and Loan Origination solutions with offices in Singapore, Philippines, India and United States. The company is established by banking industry veterans with number of years of experience in providing innovative and practical solutions from global companies in the region. This makes Kris FinSoft eminently qualified to deliver appropriate solutions, as the company that fully understands and appreciates the challenges faced by both global and local banks.