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OGA implements Clear2Pay technology at Bank of Thailand


Press Release

First SOA-based (OPF) Image Cheque Clearing solution will pave the way for unified clearing in Thailand.

Brussels/Bangkok – 20 January 2009 – Clear2Pay, the international technology provider of next generation payment solutions for financial institutions and its Thai business partner OGA announce today the signing of a contract with Thailand’s central bank for the implementation of an image cheque clearing solution, based on its service-oriented Open Payment Framework (OPF).

One of the goals of Thailand’s central bank is to build towards one clearing house, one cheque clearing system and one-day clearing for the entire country. This means a gradual overhaul of the underlying technology in order to create one stable, future based and flexible solution. The bank made it clear from the outset that it wants to take advantage of recent technological advances and thus redesign the entire cheque processing system based on the interbank exchange of cheque images rather than paper cheques. After a rigorous selection process Thailand-based OGA and its payments technology partner Clear2Pay were appointed to supply and implement this image cheque clearing solution.

Mr. Wisuit Tassanaiam, President and CEO of OGA states: “We are proud of the continued success of our relationship with the Bank of Thailand, with whom we have proudly worked for many years. In this instance we turned to our strong experienced partner Clear2Pay to jointly offer the proven technology of the Open Payment Framework as a way of migrating the various cheque clearing systems into one unified system.”

Dr. Chim Tantiyaswasdikul, Assistant Governor of the Information Technology Group at the Bank of Thailand adds: “This is an important project in the modernisation of our cheque system. This technology, backed by the expertise of OGA and Clear2Pay, will support the Bank of Thailand to meet its key objectives in modernising our cheque clearing system, and providing a better service for Thailand’s Banks and their customers.’

Warren Gardiner, General Manager APAC at Clear2Pay states: “We are delighted to work with partners like OGA in such a complementary way. They know we have been working in the Pacific region for a while, but their local expertise and knowledge is of vital importance in this ambitious project. Our experience with similar projects around the world adds value for us all. On top of that, we are obviously honoured to work for a prestigious bank like the Bank of Thailand on such a strategic project.”

About OGA
OGA SynCom Co., Ltd., is the subsidiary company under The OGA Group that was established since 1995 to provide a total solution of IT-related services such as World Class Payment Open Platform SOA Architecture , System Design and Implementation, System Integration and Testing, Computer Network Consultant and Maintenance for both Hardware and Software, etc. We’re one of the leading System Integrator in Thailand which readily equipped with comprehensive resources and expertise encompassing all network and security solution with computing platforms and environments skills in which customers are assured to get a highly competent yet robust computerized office solution. Additional information is available on www.oga.co.th

About Bank of Thailand
The Bank of Thailand (BOT) was first set up as the Thai National Banking Bureau. The Bank of Thailand Act was promulgated on 28 April 1942 vesting upon the Bank of Thailand the responsibility for all central banking functions. The Bank of Thailand started operations on 10 December 1942. The Bank of Thailand Act, B.E.2485 was later amended in order to put emphasis on BOT’s social responsibility, to create a mechanism to guard against economic crisis, as well as to set up BOT’s decision making process to ensure good governance and transparency in the organization. Moreover, members of the public will be able to audit and increase the understanding of the BOT’s operations. The Bank of Thailand Act, B.E.2551 came into force with effect from 4 March 2008. More information is available on www.bot.or.th

About Clear2Pay
Clear2Pay is an innovative financial technology company focused on delivering globally applicable solutions for secure, timely electronic payments. Headquartered in Brussels, Belgium, the company facilitates banks and financial organisations in their provision of payments services. Clear2Pay's technology helps to reduce transactions processing costs, and to deliver new, compelling payment services in a competitive way. Clear2Pay's payment solutions offer organisations easy, branded ways for their customers to pay online: from complex trade-supporting business-to-business environments, through e-commerce applications, to retail payments and remittance services. Functions embrace payments origination, reporting, linkage with back-office processing systems, clearing, netting and settlement. Clients include global and major regional financial institutions such as ING, VISA, MasterCard, ABN AMRO, Nordea, PBS, United Arab Bank, Banco Santander, ANZ and Commonwealth Bank. Clear2Pay operates out of Belgium, France, the Netherlands, Poland, Spain, United Kingdom, United States, Australia, China, Malaysia and Singapore and currently employs over 400 staff. More information is available on www.clear2pay.com

For more information:

Clear2Pay NV/SA
Conny Dorrestijn - VP Marketing and Communications
Email: conny.dorrestijn@clear2pay.com
M: +31 651 067201

OGA SynCom Co., Ltd.
Nuandee Leeludej – Business Development
Email : nuandee@oga.co.th
Office : +662-578-8000 ext. 212


Publisher Contact Information:

Clear2Pay nv/sa
+31 651 067201
conny.dorrestijn@clear2pay.com

Company profile of Clear2Pay nv/sa
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