Cassiopae, the leader in global asset finance software, announces that Hyundai Commercial (HCI) and Hyundai Capital (HCS) are in production with Cassiopae V4.5 leasing and lending software in South Korea.

Hyundai Commercial (HCI) is the commercial finance arm of Hyundai, one of the top five auto manufacturers in the world. The division offers credit finance including industrial financing, corporate financing, and investment financing. The company has been in production with the Cassiopae software since June 2015.

Hyundai Capital (HCS) is the number one provider of consumer financial products in South Korea. As the financial service unit of Hyundai Motor Group, HCS provides auto financing, auto leasing, personal loans, and home mortgages. Hyundai Capital operates in overseas markets including the U.S., Canada, China, Europe, and Russia and Brazil. HCS has been in production with Cassiopae software since the beginning of June 2016 and is now ready to accelerate expansion of its worldwide business using the Cassiopae global finance software platform.

The front-to-back Cassiopae V4.5 implementation for the two businesses involved migrating 19 million contracts and 58 million deals from legacy systems. Every day more than 4,500 Hyundai users interact with the Cassiopae system to manage millions of contracts in service. Cassiopae’s web service architecture enables Hyundai’s branches to connect via self-serve portals. In the first weeks of production HCS confirmed and funded more than 3,500 deals per day.

Mr. Gun Woo KIM (CIO) of Hyundai Capital, Hyundai Commercial and Hyundai Credit Card has said, “Hyundai Capital has integrated auto lease, auto installment and retail loan into one single system based on the Cassiopae solution. This is the first successful case of applying a packaged solution to core financial business in Korea and Hyundai Capital has a plan to deploy this platform to its global business entities.”

Hyundai is leveraging Cassiopae’s automated loan and lease processing, workflow, collateral management, and fully automated payment collection via integrated direct debit and financial settlement and clearing systems.

Cassiopae software supports a wide range of financial products and asset classes for the Korean market including housing loans, loan cards, factoring, complex corporate leases, asset-backed securities (ABS), and non-performing loan (NPL) purchasing. The software meets all of the regulatory and compliance requirements of Korea.

“Cassiopae V4.5 is unique in its ability to provide both agility and scalability for demanding, fast-paced environments,” said Emmanuel Gillet, Cassiopae CEO. “A project of this magnitude demonstrates how the right technology can truly enable the rapid business innovation needed to compete locally and globally. These go-lives are a major achievement for Cassiopae and Hyundai and demonstrate a deep commitment to the project by both sides.”

The HCI and HCS implementations in South Korea are the first major milestones of a multi-year project between Cassiopae and Hyundai that will encompass several business units and countries. 

• 07.11.2016 -- 12:17 pm

Financial IT speaks with Peter Moss,‎CEO at The SmartStream Reference Data Utility at Sibos 2016.

• 07.11.2016 -- 12:07 pm

Financial IT Speaks with Christian Schiebl, Executive VP, Corona Business Unit at SmartStream about  cash and liquidity management.

Compass Plus, an international provider of retail banking and electronic payments software to processors and financial institutions, has announced the successful completion of stress testing its open development payment platform, TranzAxis, on Oracle Exadata Database Machine.

Oracle Exadata Database Machine delivers exceptional performance and is the ideal database platform for online transaction processing (OLTP) applications, data warehouses, and the varied and unpredictable workloads of cloud computing.  It is a complete package of servers, storage, networking, and software that is massively scalable, secure and redundant.

Working with FORS Distribution, a Platinum level member of the Oracle PartnerNetwork (OPN), which provided the Oracle Exadata Database Machine for the test environment, Compass Plus recently performed further stress tests to ensure TranzAxis’ high performance as part of its initiative to continuously develop and improve its software and solutions.

The stress testing was carried out with the primary objective of benchmarking the platform’s performance when deployed in a network of 10,000 ATMs and to demonstrate its functionality when working with the hardware against specific test environment criteria. The results have effectively enabled Compass Plus to evaluate the usability, availability and continuity of TranzAxis on Oracle Exadata. Other test objectives included measuring the ability to detect and eliminate application errors and any issues in the configuration as well as finding and removing any bottlenecks affecting the performance of applications within this test environment.

“The optimised hardware and software complex of Oracle Exadata helps increase efficiency of the systems several-fold through a simple and quick infrastructure update which does not require replacement of application software,” said Andrey Tambovsky, Technologies Director at FORS Distribution. “A strong team of experts from Compass Plus and FORS Solution Center, with their long-term experience with Oracle Exadata, once again managed to prove it by showing impressive results.”

“By testing how our payment software will behave in a variety of real-life situations, we are able to propose optimal system and hardware configurationsbased on our customer’s requirements, and subsequently offer savings for their transaction processing business,” said Alexandra Kochergina, Head of Partner Programs at Compass Plus. “We are grateful for the continued support provided by FORS distribution in our testing endeavours and look forward to working with them in the future.”

• 28.10.2016 -- 10:17 am

Financial IT speaks with Jouk Pleiter, CEO, Co-Founder, Backbase at Sibos 2016.

• 27.10.2016 -- 09:56 pm

Michael Heffner,  Global Capital Markets and Banking Industry Lead , Appian speaks about  digital transformation and  how the company helped First Republic Bank to transform it's banking platform.

TOC BIOMETRICS, the biometrics specialist company, presents its new TOC App at the Money 20/20 global event. The consent administrator system allows users to confirm or authorize with their fingerprint and smartphone to perform tasks such as online banking login, money transfers, payments, purchases, permits, electronic signatures and so on. Through a push message, the person can answer "I am/ I do" while placing their finger on the sensor of the smartphone. This system is revolutionary since it is the only one in the world that is based on the "trusted third party" security protocol patented by TOC, in which a third, autonomous, independent and reliable party corroborates the received information. The system safeguards the user’s personal data by not using databases or any information related to the transaction.

"TOC aims to create a paradigm shift in how to authenticate by changing the traditional models to make them more efficient and safe. An average person handles 18 passwords, inevitably leading to security breaches. Today, systems that allow greater autonomy, security and speed are required, and the solution is --literally—just a finger. The TOC system checks anyone’s ID with its corresponding fingerprint to perform operations such as bank transfers in a 100% safe and efficient way. The system technology does not use databases and operates with a trusted third party making it safe and private for users”, said Ricardo Navarro, TOC’s CEO & leader of TOC Labs.

Biometrics is the big trend in the world to improve safety standards and to foster the development of mobile phones with fingerprint sensors - Apple sells 50 million of these phones a month - showing that it is now massive. With the creation which integrates this technology effectively, TOC BIOMETRICS is at the forefront of innovation on this area, and will present its accomplishments exclusively at Las Vegas Money 20/20 event by participating as a sponsor in booth K2060.