China-based Bank of Shanghai (BOSCI) has selected French financial software services provider Linedata for its Linedata Global Hedge solution to improve its reporting capabilities.
BOSCI selected the Global Hedge solution to enhance efficiency, value, and service, improve portfolio management and calculations, and balance cost and value.
The integration also enables more precise calculation of the bank’s net asset value, increasing the accuracy of the investment book of records, said the software provider.
BOSC International senior management said: “We were looking for a solution that offered long-term value and service, and Linedata’s local expertise, combined with their support teams fluent in multiple languages, made them the ideal partner.
“The implementation has been smooth, and we are already seeing the benefits in terms of efficiency and accuracy.”
Linedata said its solution provides the Bank of Shanghai with flexible reporting capabilities and integration with third-party data platforms used by Chinese asset managers.
Also, Global Hedge can support complex fixed-income functionalities, including intricate fixed-income products, which is critical for large financial institutions in managing portfolios.
Furthermore, Linedata’s automated reporting processes will enable Chinese banks with large structures to save time, provide accurate data, and faster access to information.
Linedata Asia managing director Sally Crane said: “We are delighted to welcome the Bank of Shanghai to our growing family of clients in the APAC region.
“Our local presence, combined with teams fluent in Mandarin, Cantonese, and English, allows us to meet the unique needs of large Chinese banks.
“We have supported Chinese asset managers for many years, and our deep understanding of their specific requirements ensures we deliver solutions that provide real value.”
In a separate development, Citi and BOSCI have partnered to simplify payments for visitors to China, through a new payment solution designed for the bank’s TourCard for travellers.
The new solution allows travellers to access local currency in China by connecting a BOSCI-CNY virtual account to their digital wallets in the TourCard mini-app.
