The Money Transfer New Architecture (MTNA) development by Deutsche replaced 17 legacy systems worldwide to support multi-currency, multi-location and multi-entity high-value payments across Europe and the US. The system supports more than 250,000 daily transaction valued at more than €1000bn with peaks of 350,000 transactions per day. The judges felt it was a challenging project based on scale and mission-critical delivery, which is working and delivering substantial benefits. For example, Deutsche achieved a 15% internal rate of return.
Commended: Citi with Citi CLS. The Citi continuous linked settlement (CLS) capability was developed to support settlement of FX trades, including proprietary support for non 0-CLS bank currencies such as the Colombian peso, trade settlement for other parties such as investment funds, and settlement for customers who do not use the SWIFT network. The Citi solution provided an innovative approach to countries that did not have CLS capabilities, such as Colombia. Prior to Citi’s CLS delivery, Columbia used a gross settlement clearing system, which made it difficult to track transactions and which was susceptible to errors. As a result of the Citi CLS service, the Colombian market is achieving an 80% increase in liquidity and has made FX far more secure.
Financial Crime Prevention Project Winner:
Chinatrust Commercial Bank and Yahoo! Taiwan with a secure auction payment mechanism
In Taiwan, the size of the online auction market will reach T$78.3bn in 2006, representing 51.8% growth, and Yahoo! Taiwan is the most visited online auction site in Taiwan. However, a big issue is auction fraud. In response, Chinatrust Commercial Bank partnered with Yahoo! Taiwan to enable the fraud to be minimised as sellers only deliver the merchandise after Chinatrust receives payment from the buyer. Once the buyer receives the goods, Chinatrust then transfers the payment to the seller. The judges were impressed that the bank had pre-empted PayPal in Taiwan and created the most secure auction payment mechanism for Taiwanese customers.
Supply Chain Project Winner:
Deutsche Bank with db-eBills
Deutsche Bank has designed a complete solution for the smooth flow of commercial and financial information throughout the financial supply chain for its clients. At the forefront of this solution is db-eBills, a global platform that is fully integrated with the bank’s other solutions. db-eBills provides a full range of payments and financing services linked with e-invoicing. The judges viewed this as a comprehensive project at the forefront of financial supply chain management.
Commended: Sampo Bank with its Business Networking Service. Sampo Bank worked with WM-data to deliver a comprehensive e-invoicing and e-business service for corporate clients with the first major user of the service being City of Helsinki. With a payback period of under a year, the judges were impressed by Sampo’s development of a solution working with a large end user client and the fact that this provided end-to-end e-invoicing supply chain support.
Trade Finance Project Winner:
State Bank of India with FNS and CS-Eximbills
The State Bank of India implemented a new core banking solution, FNS, for more than 4500 branches as well as implementing a new trade finance system, CS-Eximbills from China Systems, across more than 400 branches during 2006-07. The judges felt that the size and complexity of the project and the successful completion of its implementation made this a worthy winner.
Cash Management Project Winner:
ICBC with ERP System
ICBC developed new cash management services in 2006 to allow customers to directly access its enterprise resource planning (ERP) services. The project integrates ICBC’s ERP systems and services to provide solutions direct to clients, such as fund collection and disbursement, balances, directional payment and account changes. The judges chose ICBC’s entry on the basis of a new implementation catering for more than 30,000 customers across 300 offices, which generated more than Rmb45m ($5.86m) in new business in 2006.
