Singapore, 23 October 2020 – ST Engineering and Montran Corporation have signed a Memorandum of Understanding (MOU) to establish a strategic alliance focusing on the digitalisation of critical payments and securities settlement systems for the financial services industry in the Asia-Pacific region.
Anchored by the establishment of a state-of-the-art Centre of Excellence (CoE) in Singapore, this partnership combines ST Engineering’s global capabilities in designing, building and operating highly secure, resilient and modernised Critical Information Infrastructures, with Montran’s extensive experience in global payments and securities settlement and clearing infrastructure solutions. This comprehensive 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 key initiatives such as the modernisation of payment solutions technology to support the financial services ecosystem for a globalised network that can be hosted, monitored, governed and secured within a hybrid or multi-cloud management under the CoE.
“We are combining ST Engineering’s leading capabilities in software and infrastructure development and implementation, with Montran’s comprehensive payment systems to deliver even more innovative solutions for financial institutions in Singapore and the region. 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,” said Mr 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. We remain fully committed and confident that this powerful partnership will build on our many synergies and strengths, and contribute to significant growth both in Singapore and the region,” said Mr Martin S Walsh, Executive Vice President, Montran Corporation.
ST Engineering is a global technology, defence and engineering group specialising in the aerospace, electronics, land systems and marine sectors. The Group employs about 23,000 people across offices in Asia, Europe, the Middle East and the U.S., serving customers in the defence, government and commercial segments in more than 100 countries. With more than 700 smart city projects across 130 cities in its track record, the Group continues to help transform cities through its suite of Smart Mobility, Smart Security and Smart Environment solutions. Headquartered in Singapore, ST Engineering reported revenue of $7.9b in FY2019 and it ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index, MSCI Singapore, iEdge SG ESG Transparency Index and iEdge SG ESG Leaders Index. For more information, please visit www.stengg.com.
Montran is a world leader in designing, developing and implementing, comprehensive Payment, Securities, Clearing and Settlement solutions that are all ISO 20022 compliant and capable of running in a 24/7 environment. Established over 40 years ago, Montran presently maintains the entire National Infrastructure Solutions in more than 70 countries, across 5 continents, throughout the world. Montran has offices in North America, South America, Europe and India. Montran’s Payment Solutions have been SWIFT Ready certified since SWIFT started the program more than 30 years ago.
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Shannon E. Walsh
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