ST Engg, Montran Corp inks MOU for digtialisation of APAC payments' systems

They will also establish a centre of excellence in Singapore.

ST Engineering and financial solutions firm Montran Corporation have signed a memorandum of understanding (MOU) to establish an alliance focusing on the digitalisation of payments and securities settlement systems for APAC’s financial services industry, according to a press release.

The partnership will be anchored by the establishment of a state-of-the-art Centre of Excellence (CoE) in Singapore, according to the announcement.

It will see ST Engineerings’s capabilities in designing, building and operating secure, resilient and modernised critical information infrastructures combine with with Montran’s extensive experience in global payments, securities settlement and clearing infrastructure solutions.

Furthermore, 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.

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, monitored, governed and secured within a hybrid or multi-cloud management under the CoE, amongst others, the joint release added.