OGA implements Clear2Pay technology at Bank of Thailand

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.”

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