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| Recent Quantum Solutions News Events |
The
Reserve Bank of South Africa
provided new requirements for the implementation of BOP version
2.
BOP is an acronym for "Balance of Payment"
.A balance of payments (BOP) sheet is an accounting record
of all monetary transactions between a country and the rest of
the world. These transactions include payments for the
country's exports and imports of goods, services, and financial
capital, as well as financial transfers. The BOP summarises
international transactions for a specific period, usually a
year, and is prepared in a single currency, typically the
domestic currency for the country concerned. Sources of funds
for a nation, such as exports or the receipts of loans and
investments, are recorded as positive or surplus items. Uses of
funds, such as for imports or to invest in foreign countries,
are recorded as a negative or deficit item.
When
all components of the BOP sheet are included it must balance –
that is, it must sum to zero – there can be no overall surplus
or deficit. For example, if a country is importing more than it
exports, its trade balance will be in deficit, but the shortfall
will have to be counter balanced in other ways – such as by
funds earned from its foreign investments, by running down
reserves or by receiving loans from other countries.
While
the overall BOP sheet will always balance when all types of
payments are included, imbalances are possible on individual
elements of the BOP, such as the current account. This can
result in surplus countries accumulating hoards of wealth, while
deficit nations become increasingly indebted. Historically there
have been different approaches to the question of how to correct
imbalances and debate on whether they are something governments
should be concerned about. With record imbalances held up as one
of the contributing factors to the financial crisis of
2007–2010, plans to address global imbalances are now high on
the agenda of policy makers for 2010.
Quantum
Solutions represented by Buddy and Jakes van den Berg visited
The Reserve Bank of South Africa (George Roux who
was
assisting
with this project)
on 6 May 2009 to discuss the needs for this requirement.
In
an effort to be pro-active Quantum Solutions
approached three Banks using T24 with a proposal. Two
Banks accepted our proposal and the project for implementation
was kicked off in December 2009. Both our projects went
live on 1 April 2010, and although ongoing support is still
provided by Quantum Solutions, both our project customers are
very happy with the results of this project.
We
have signed a very important partnership agreement with Aaliptha
Software Private Limited India.
Aaliptha is among the leading global service providers of T24
solutions and an official Temenos partner. Aaliptha has been
closely associated with Temenos and its clients over the years.
They are also renowned for their vast experience in the
implementation of T24 and would be an asset to Quantum for T24
resources. This means we can now offer our customers a better
service on bigger projects. With Aaliptha in India our offsite
development offering is further strengthened and offers
customers more hours per day in development time.
During
January and February we went out to “meet and greet” potential
customers who are already hooked up to Temenos GLOBUS/T24. We
travelled all over Southern Africa to
introduce Quantum Solutions to them, offering them various
solutions. Among these were documenting of previously developed
code, new development requirements, new project implementation
such as Internet Banking and ATM services, Audit report
preparation, File resizing and general maintenance. Many
customers required small report writing development, which is
one of our specialties. If your Bank is
situated in Southern Africa and you would like to meet with us,
why don't you contact us
here to setup a meeting?
There
has been great excitement for our agreement with a Cypriote
company, TIS Consultants who will pro vide
various specialized and complementary Temenos GLOBUS/T24
products like MIS Data warehousing, Transaction Tracking and
Security Manager. Quantum Solutions will act as an
implementation and maintenance agent for these various TIS
products. QS has introduced the MIS Data Warehouse solution to
various banking institutions around Southern Africa and clients
were impressed with the great flexibility and solution specific
aspects of the software as well as its cost effective assets.
For more information,
please contact us at sales@t24quantum.com |
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Recent News Events:
Quantum Solutions goes Live with 2 Balance of
Payment (BOP) projects.
read more...
New Partnership deal signed with Aaliptha Software Pvt Ltd (India).
read
more...
Meet and Greet Road show returning great success, did we visit you? read
more...
Agreement deal signed with TIS Consultants from Cyprus, offering
unrivalled MIS solutions for T24...
read more...
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