Ascend Money Selects Red Hat Solutions to Accelerate Electronic Payment Systems Across Southeast Asia

Information Technology Press Releases Wednesday May 30, 2018 16:09
Bangkok--30 May--FAQ
Red Hat OpenShift Container Platform, Red Hat Ansible Automation, and Red Hat Satellite help address technical debt, enable more agile and rapid deployment of payment services

Red Hat, Inc. (NYSE: RHT), the world's leading provider of open source solutions, today announced that Ascend Money, one of ASEAN's leading fintech companies, has selected Red Hat technologies to help enable and accelerate electronic payments across the region.

Forming the foundation for the company's growing financial solutions will be Red Hat OpenShift Container Platform, Red Hat Ansible Automation and Red Hat Satellite, which help to provide a consistent, open standards-based platform to better enable the rapid delivery of application services across the countries served by Ascend Money.

Ascend Money's TrueMoney payment platform serves more than 30 million people through its e-wallet app and 50,000 agent networks. TrueMoney supports bill payments, mobile top-ups, money transfers, and online and offline payments. As its user base expanded, Ascend Money faced challenges integrating its systems and scaling across new and growing markets. With customer service a key factor in the payment platform's success, Ascend Money began to search for a more flexible and scalable open source platform that could support its current and future business goals, including bringing the app to unbanked and underbanked users in more countries and expanded functionality.

As the company rolls out its new application foundation, Ascend Money plans to use Red Hat OpenShift Container Platform to more rapidly create, host, and scale applications across hybrid and multi-cloud environments. Built on open innovation and industry standards, including Red Hat Enterprise Linux and Kubernetes, Red Hat OpenShift Container Platform helps Ascend Money unite its developers and IT operations teams on a single platform for modern and traditional applications with shorter development cycles and increased efficiencies.

Red Hat OpenShift Container Platform unites developers and IT operations on a single platform to build, deploy, and manage applications consistently across hybrid cloud infrastructures. This helps businesses achieve greater value by delivering modern and traditional applications with shorter development cycles and increased efficiencies. The platform is built on open source innovation and industry standards, including Red Hat Enterprise Linux and Kubernetes, and is trusted by many companies around the world.

Ascend Money has also selected Red Hat Ansible Automation and Red Hat Satellite to provide effective management and automated provisioning of infrastructure across all environments.
Supporting Quotes
Jason Jackson, group chief technology officer, Ascend Money

"At Ascend Money, we strongly believe in providing innovative financial services to better serve the underserved and digital consumers' in Southeast Asia. On our road to digital transformation, it was critical for us to move to open source and take advantage of innovative technologies like Red Hat OpenShift Container Platform and Red Hat Ansible Automation to host and scale applications across hybrid and multicloud environments. We hope to ride on the growth of mobile payments in Southeast Asia by scaling our business footprint in the region in a cost-effective and efficient manner with Red Hat's technologies."

Damien Wong, vice president and general manager, Southeast Asia, Taiwan and Hong Kong (SEATH), Red Hat

"Today's digital-first customers frequently expect applications to be agile, easy-to-use, and highly localized - capabilities that open source can deliver. With Red Hat OpenShift Container Platform, Red Hat Ansible Automation and Red Hat Satellite as its flexible, scalable foundation, Ascend Money can achieve enhanced business value by offering new features to customers more quickly while also maintaining a more secure and stable environment. We look forward to working with Ascend Money as it seeks to improve access to financial services in Southeast Asia."

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About Red Hat, Inc.

Red Hat is the world's leading provider of open source software solutions, using a community-powered approach to provide reliable and high-performing cloud, Linux, middleware, storage and virtualization technologies. Red Hat also offers award-winning support, training, and consulting services. As a connective hub in a global network of enterprises, partners, and open source communities, Red Hat helps create relevant, innovative technologies that liberate resources for growth and prepare customers for the future of IT. Learn more at http://www.redhat.com.

Forward-Looking Statements

Certain statements contained in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: risks related to the ability of the Company to compete effectively; the ability to deliver and stimulate demand for new products and technological innovations on a timely basis; delays or reductions in information technology spending; the integration of acquisitions and the ability to market successfully acquired technologies and products; risks related to errors or defects in our offerings and third-party products upon which our offerings depend; risks related to the security of our offerings and other data security vulnerabilities; fluctuations in exchange rates; the effects of industry consolidation; uncertainty and adverse results in litigation and related settlements; the inability to adequately protect Company intellectual property and the potential for infringement or breach of license claims of or relating to third party intellectual property; changes in and a dependence on key personnel; the ability to meet financial and operational challenges encountered in our international operations; and ineffective management of, and control over, the Company's growth and international operations, as well as other factors contained in our most recent Annual Report on Form 10-K (copies of which may be accessed through the Securities and Exchange Commission's website at http://www.sec.gov), including those found therein under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations". In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic and political conditions, governmental and public policy changes and the impact of natural disasters such as earthquakes and floods. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of this press release.

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