Calypso Technology Partners With China Bank in the Philippines
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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.
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.
“We are excited about more banks in the Philippines joining us, and bolstering our commitment to expand our services for the region.”
About Calypso Technology, Inc.Calypso Technology provides award-winning, enterprise-wide software solutions that empower capital markets, investment management and treasury professionals around the world. We have been setting the global standards for innovative, cost-effective financial markets software solutions since 1997. Now trusted by more than 34,000 financial market professionals in 60 countries, our integrated trading, risk and investment management solutions are leading the industry towards full systems consolidation.
We address rapidly evolving capital and regulatory challenges with robust, nimble and scalable technology. It’s part of our commitment to facilitate operational and financial excellence throughout the workflow. From front to back office, our solutions are global, universal and future-proofed, and are relied on by more than 200 financial institutions, including over half of the top 25 banking institutions.
Questions & Answers
Q.Which specific Calypso solution is China Bank implementing to upgrade its treasury system?
Which specific Calypso solution is China Bank implementing to upgrade its treasury system?
China Bank is implementing the Calypso front-to-back trade processing solution. This upgrade aims to reduce its reliance on custom development and mitigate operational risks associated with manual processes.
Q.Who is assisting Calypso Technology with its efforts in the Philippines market?
Who is assisting Calypso Technology with its efforts in the Philippines market?
Calypso Technology is partnering with Kris FinSoftware, Inc. In the Philippines. Kris FinSoftware's Business Development Manager, Sherrizah Lubigan, confirmed their joint efforts to help banks' treasury businesses locally.
Q.What benefits does China Bank expect to gain from adopting Calypso's technology?
What benefits does China Bank expect to gain from adopting Calypso's technology?
China Bank anticipates Calypso's technology will support its business direction and help achieve aggressive growth targets. It also expects to gain industry best practices while retaining local expertise, reducing manual operational risks.
Q.What previous expansion has Calypso Technology undertaken in the Asia Pacific region?
What previous expansion has Calypso Technology undertaken in the Asia Pacific region?
Calypso Technology has achieved similar successes in China, Hong Kong, and Korea in the months prior to this Philippines agreement. This indicates a broader, rapid expansion across the Asia Pacific region in 2015.