NEWS
Conpend TRADE AI app
goes live on Finastra’s
FusionFabric.cloud
Singapore’s
Keppel Capital
builds its
second Greater
Bay Area
data center in
Huizhou
Keppel Capital, the asset management
arm of Singapore’s conglomerate Keppel
Group, has agreed to invest 1.5 billion yuan
(US$213.8 million) to build a data center in
Huizhou, China.
The data center, located in Tonghu Smart
City, an industrial complex developed by
Country Garden Holdings, will have a gross
floor area (GFA) of 45,000 square meters
(486,700 square feet) when construction is
completed in 2022, according to a statement.
Alpha Data Center Fund, managed by Keppel
Capital’s wholly-owned subsidiary Alpha
Investment Partners, is responsible for the
data center project in Tonghu.
Finastra has announced a new app
available on its FusionFabric.cloud
open development platform, Conpend
TRADE AI. The app builds on the
functionality of Finastra’s Fusion Trade
Innovation technology to significantly
cut document and compliance checking
time. Using optical character recognition
(OCR), natural language processing
(NLP) and progressive Machine Learning,
Conpend TRADE AI digitizes trade finance
processes to reduce the risk, processing
time and cost of trade finance operations.
“We joined the FusionFabric.cloud
platform as part of the early adopter
program, not only because the platform
would enable us to integrate our TRADE
AI solution faster with Finastra’s product
portfolio, but also because we believe
in Finastra’s vision of openness and
collaboration,” said Marc Smith, Founder
and Director, Conpend. “The platform has
helped us to build, test and now deliver
the integrated solution to a potentially
huge market base. Going live in the store
is a much-celebrated milestone for our
two companies and we’re excited to
be at the forefront of helping to bring
much needed Digital Transformation and
efficiency to the trade finance industry.”
Conpend TRADE AI extracts
unstructured data from scanned paper
documents and can also process already
digitized data. The data is then screened
and analyzed, using rules and advanced
analytics, to empower business users
to make informed business decisions
quickly and accurately.
The deal marks the fund’s first asset
in China, in tandem with the country’s
pursuit of a new infrastructure campaign
focusing on information-based, converged
and innovative infrastructure, Alpha
Investment’s Chief Executive Alvin Mah said
in a statement. The data center will be the
second by Keppel in the Greater Bay Area
(GBA) after one in Hong Kong.
Alpha Investment said it would collaborate
with data center operator Shenzhen
Huateng Smart Technology to run it based
on the world’s highest standard on data
hubs. The data center will fit more than
6,000 high-density racks and another 50,000
square meters of floor area could be added
for expansion in the future, which would
bring the total size to 95,000 square meters.
12 INTELLIGENTCIO www.intelligentcio.com