More NewsChina Guangfa Bank Selects Omikron’s MultiCash

China Guangfa Bank Selects Omikron's MultiCash

China Guangfa Bank (CGB), one of China’s top 10 universal banks, has become the first bank in China to use Omikron’s MultiCash solution for e-banking and cash management services for corporates. The bank’s declared objective is to provide advanced payment services and cash management tools to mid- to large corporates across China, features well established in Omikron’s mature MultiCash product suite.

Omikron can provide its Chinese customers with a rich product portfolio to meet these requirements :

  • MultiCash corporate package, including extensive cash management functionality in Chinese language, with all accompanying documentation.
  • Alongside the Windows version of MultiCash, the web edition is available, allowing ‘classic’ e-banking via a browser.
  • Chinese payments, enabling straight-through processing (STP) of bulk payments and direct debits.
  • Full compliance with the standards of the Chinese National Automated Payment System (CNAPS).
  • For secure user authentication, interaction with the Chinese Financial Certification Authority (CFCA).
  • Corporate-bank communication using the secure MCFT communications channel.
  • International module prepared for cross-border transactions.
  • Omikron Bank Server (Omikron Communication Platform) fully localised to Chinese, including accompanying modules and documentation.

Following the pilot and launch by China Guangfa Bank, Omikron is in advanced discussions with other Chinese and international banks. The eventual goal is to provide a full multi-banking capability for China. “The business potential within China is only one side of the picture,” said Thomas Zimmermann, Omikron’s managing director (MD). “Just as important is the fact that European or US-based corporate groups can now incorporate direct access to Chinese banks within their payment factory. For our clients, this provides a terrific opportunity to centralise their transaction flows.”

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