Omikron’s MultiCash is successfully launched in China

Omikron’s MultiCash e-banking solution has now been launched officially in the Chinese market. The launch follows three years of preparation activity by Omikron in China, together with a Beijing-based competence centre, Profimore Technology Ltd. Discussions with banks and large Chinese corporates revealed a keen interest in state-of-the-art solutions for cash management and payments, to increase the efficiencies in daily corporate operations.

Now Omikron can provide its Chinese customers with a rich product portfolio to meet these requirements :

  • MultiCash corporate package, including extensive cash management functionality in Chinese language, with all accompanying documentation
  • Alongside the Windows version of MultiCash, the WebEdition is available, allowing "classic" e-banking via a browser
  • Chinese payments, enabling straight-through-processing of bulk payments and direct debits
  • Full compliance with the standards of the Chinese National Automated Payment System (CNAPS)
  • For secure user authentication, interaction with the Chinese Financial Certification Authority (CFCA)
  • Corporate – Bank Communication using the highly secure MCFT communications channel
  • International module prepared for cross-border transactions
  • Omikron Bank Server (Omikron Communication Platform) fully localized to Chinese, including accompanying modules and documentation

China Guangfa Bank (CGB), one of China’s top ten universal banks, has become the first bank in China to launch e-banking and cash management services for corporates using Europe’s leading product, MultiCash, in the latest WebEdition. The bank’s declared objective is to provide advanced payment services and cash management tools to mid- to large corporates across China, features well established in Omikron’s mature MultiCash product suite. Feedback from the bank’s clients has been enthusiastic.

"Omikron’s experience in the cash management and payments business has been invaluable for this project," says Dr Lidong Zhan, CEO of Profimore Technology. "Above all we need flexibility and creativity to adapt products to fit our fast-changing market. Omikron and MultiCash have proved the perfect fit."

Following the successful pilot and launch by China Guangfa Bank, Omikron is already in advanced discussions with other Chinese and international banks. The eventual goal is to provide a full multibanking capability for China. "The business potential within China is only one side of the picture" says Thomas Zimmermann, Omikron’s MD. "Just as important is the fact that European or US-based corporate groups can now incorporate direct access to Chinese banks within their payment factory. For our clients, this provides a terrific opportunity to centralize their transaction flows."

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