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Malaysian banking group accelerates transaction process

AvantiKumar | Feb. 27, 2009
Invests US$5.5 million in IBM upgrade

KUALA LUMPUR, 27 FEBRUARY 2009 Malaysian banking group EON Bank Group has implemented the IBM Power 550 Express server to accelerate the bank's transaction process and improve its back-end system, allowing faster data access with applications running 24 by 7.

EON Bank Group chief executive officer Albert Lau Yiong says that the RM20 million (US$5.5 million) investment was to upgrade the group's core banking applications and disaster recovery site.

We are proud to be the first financial institution in Malaysia to acquire this new system, which will improve business responsiveness and customer service efficiency, says Yiong. EON Bank Group is emphasising customer satisfaction through the introduction and implementation of various initiatives in the past year as part of its Project Quantum Leap', where strategic initiatives including improving the bank's underlying organisation structure and systems and processes were formulated.

EON Bank, which provides a full range of financial products and services, is a licensed banking and finance company operating under the regulations of Bank Negara Malaysia under the provisions of the Banking and Financial Institutions Act 1989.

Improvement of performance

"In order to serve our customers better, it is critical that we continuously improve our performance and service level, said Yiong. We have tested the IBM Power 550 Express and found it to be stable, scalable and flexible, which are the three necessary criteria to support EON Bank Group's projected business growth in the next 5 years."

IBM Malaysia managing director Ou Shian Waei said, This system makes it possible for EON Bank Group's applications to run faster and be more responsive, which can result in added business advantages and higher client satisfaction. The near-continuous application availability also enables EON Bank to improve the efficiency and ensure business continuity. The IBM Power 550 Express, which was launched locally last November, delivers the outstanding performance of the POWER6 processor the world's fastest chip.

Waei said that the system, which would go live on March 8 2009, would be rolled out by EON Bank Group together with technology services firm Silverlake Group.

Silverlake Group president Ronnie Tan said, As a strategic IT partner of the EON Bank Group, we will leverage on these successful experiences and expertise to continuously help EON Bank Group in enhancing their Silverlake integrated core banking solution to support the Bank's business strategy.

 

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