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Declan Kinsella
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Compass Plus Technologies hits the double at Global Banking & Finance Awards

Compass Plus Technologies has picked up two awards in the Global Banking & Finance Awards 2022. The awards have been running since 2011 and aim to recognise businesses driving innovation, progressive and inspirational changes within the global financial sector.

The first accolade received by Compass Plus Technologies was for Best Banking Technology Overhaul Project in recognition of its recent achievements with the Central Bank of Mongolia. With over 30 years’ experience in payments technology innovation, Compass Plus Technologies was appointed to migrate the Central Bank of Mongolia’s (also known as the Bank of Mongolia) entire payments infrastructure to Compass Plus solutions.

As this was a national scale project, the bank needed a scalable, reliable and trusted solution that could service large volumes of transactions, as well as a vendor that could provide the support it required. The bank chose to migrate its existing payments infrastructure to an in-house processing centre built on Compass Plus Technologies solutions, due to the company’s outstanding reputation in Mongolia - with 80% of the country’s banks currently running on Compass Plus Technologies software.

The second accolade was handed to Compass Plus Technologies in the Best Banking Transformation Partner category. The judges recognised Compass Plus Technologies for the reputation it has gained as being one of the preferred banking transformation partners for various financial institutions in Cambodia, including Chip Mong Bank, Prasac and MOHANOKOR Microfinance Institution, enabling them to expand their range of products and services to better meet the needs of their customers.

Sergey Putenikhin, VP & Eastern Joint Regional Directorate Managing Director at Compass Plus Technologies said: “We are honoured to achieve two such notable awards for our work with financial institutions in Asia Pacific (APAC). The payments market in the region is one of the fastest growing in the world and we are delighted to have contributed towards various projects that have driven innovation across APAC. Our solutions ensure that the needs of our partners in Mongolia and Cambodia are met both now and in the future, allowing them to deliver better products, services and experiences to their customers.”