The Monetary Authority of Macau (AMCM), central bank of the Chinese Special Administrative Region of Macau, has selected Financial Object’s component-based activebank’ to support its banking operations. The solution will be rolled out in AMCM’s corporate headquarters and business groups across the organization in 2003. AMCM has bought the following Financial Objects activebank’ modules: accounting, treasury, risk management and payments. These modules form part of a larger project, which also encompasses human resources and purchasing. activebank’ replaces the legacy system currently being used by AMCM, which has proved difficult to maintain or extend. The legacy system is written in Portuguese, requires considerable manual intervention, and is not fully integrated with the rest of the bank’s infrastructure. Rufino Ramos, executive director of AMCM, comments: ‘Not only did the system have to tie together our banking applications in one easy-to-use platform, it also needed to be flexible enough to adapt to constantly evolving requirements.’
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.