Ulaanbaatar, Mongolia – June 6th, 2023 – AND Solutions has marked a significant milestone in Mongolia’s financial technology landscape with the successful implementation of its innovative Underwriting-as-a-Service (UaaS) system at two leading securities companies, “BDSec JSC” and “Rhinos Investment UTsK“. The system has rapidly established itself as the cornerstone technology for processing Initial Public Offering (IPO) orders at Mongolia’s premier financial institutions, Khan Bank and XacBank.
The groundbreaking UaaS system represents a major technological advancement in Mongolia’s securities market, streamlining the traditionally complex IPO underwriting process. By digitizing and automating crucial aspects of securities underwriting, the system significantly enhances operational efficiency while maintaining the highest standards of compliance and risk management.
“This implementation marks a transformative moment for Mongolia’s financial markets,” said Otgonbayar Purevsuren, CEO at AND Solutions. “Our UaaS system is designed to meet the specific needs of the Mongolian market while incorporating international best practices in securities underwriting.”
The collaboration with BDSec JSC and Rhinos Investment UTsK has demonstrated the system’s robust capabilities in handling high-volume IPO orders efficiently. The successful adoption by Khan Bank and XacBank, Mongolia’s largest banking institutions, further validates the system’s reliability and effectiveness in managing complex financial transactions.
Key benefits of the UaaS implementation include:
- Enhanced processing speed and accuracy in IPO order management
- Improved risk assessment capabilities
- Streamlined compliance procedures
- Real-time monitoring and reporting features
- Increased transparency in the underwriting process
This technological advancement comes at a crucial time for Mongolia’s developing securities market, as the country continues to attract both domestic and international investment. The successful implementation of the UaaS system positions AND Solutions as a key player in Mongolia’s financial technology sector while contributing to the overall modernization of the country’s financial infrastructure.
Looking ahead, AND Solutions plans to leverage this experience to further enhance its UaaS offering and explore additional opportunities within Mongolia’s growing financial technology sector. The company remains committed to supporting the development of Mongolia’s securities market through innovative technological solutions.
