Activity to update the banking systems is continuing in mainland China, one of the latest moves being Bank of China’s implementation of Summit Systems’ treasury and capital markets software across its interest rate derivatives trading desks.
The system has been implemented in Beijing with further installations at multiple sites to provide the bank with overseas remote access. The system will handle all aspects of derivatives trade entry and pricing, interfacing with real-time market data feeds. It will also provide real-time services including market risk, FX positions, bond positions and money market securities issuance, to help the bank’s traders to make rapid and informed decisions. Dutch bank ABN Amro has also been updating: it plans to implement the Finacle core banking software from Infosys Technologies across its branches in mainland China, Taiwan and Hong Kong. Infosys has been investing in making the core banking system ready for the Chinese banking market. ABN Amro will use the Finacle system to handle core banking, internet banking, customer relationship management and loan origination activity.
