Singapore Technologies Engineering (ST Engineering) and Montran Corporation have signed a memorandum of understanding (MOU) to establish a strategic alliance to focus on the digitalisation of critical payments and securities settlement systems for the financial services industry in Asia Pacific.
The partnership, which will bring about a state-of-the-art Centre of Excellence (CoE) in Singapore, will also combine ST Engineering’s global capabilities in designing, building and operating highly secure critical information infrastructures with Montran’s experience in global payments and securities settlements and clearing infrastructure solutions.
See also: ST Engineering and NUS collaborate on $9 mil advanced digital technologies research programme
The CoE will spearhead the development and implementation of advanced, secured and ISO 20022-compliant Real-Time Gross Settlement, Central Securities Depository and Payment System solutions to meet the thriving and fast-evolving financial services space in Singapore and the region.
The alliance will also cover initiatives such as the modernisation of payment solutions technology to support the financial services ecosystem for a globalised network that can be hosted within a hybrid or multi-cloud management under the CoE.
“This partnership will contribute to ST Engineering’s growth strategy, especially in supporting critical information systems in the financial services sector, as well as in the digitalisation of user-centric payment systems to augment our Smart City solutions and service offerings,” says Ravinder Singh, president of ST Engineering’s Electronics sector.
“This alliance is a strategic platform for Montran Corporation to jointly explore new Global Payments opportunities in Asia Pacific with a robust product roadmap, while leveraging ST Engineering’s established capabilities in developing mission-critical systems, their extensive regional presence and exceptional reputation,” says Martin Walsh, executive vice president at Montran Corporation.
As at 12.16pm, shares in ST Engineering are trading 2 cents higher or 0.5% up at $3.66.
