Alliance Bank And eBworx Partner For Two Key Banking Applications

Bank invests RM15 million in Trade Finance and Loans Origination System expects continued growth despite dampened economic outlook Alliance Bank Malaysia Berhad (Alliance Bank) has embarked on two (2) key banking applications totalling approximately RM15 million in line with its

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Bank invests RM15 million in Trade Finance and Loans Origination System; expects continued growth despite dampened economic outlook

Alliance Bank Malaysia Berhad (Alliance Bank) has embarked on two (2) key banking applications totalling approximately RM15 million in line with its strategy for continuous growth while facing current global competitive market and to mitigate risks in its advance credit processing and loans origination system.

The Bank’s total investment to upgrade its Trade Financing and Loans systems are RM5 million and RM10 million respectively, which includes system software license, implementation and hardware.

“Today’s signing ceremony with eBworx Berhad marks two major milestones in the annals of our IT expansion chart: the simultaneous successful implementation of both our trade financing application, TradeSpring, and Phase 1 of our Group Loans Origination System (GLOS) covering credit card, personal loan, and mass market modules,” says Datuk Bridget Lai, group chief executive officer of Alliance Bank Malaysia Berhad and director of alliance financial group Berhad at the signing ceremony.

Datuk Bridget added that the primary consideration in implementing TradeSpring is to improve the Bank’s ability to service its trade finance customers effectively. The application comes with an imaging and fully automated workflow process which helps the Bank to track the efficiency in processing the trade finance transactions.

“Using an unparalleled 360-degree unified view of a customer’s trade relationship with the Bank, we are able to help our customers with their enquiries and requests effectively,” says Datuk Bridget. “In short, the entire operations of Alliance Bank’s Trade Finance is now automated with improved turnaround time for trade financing and services. This translates to better efficiency in serving the needs of our customers. We are able to process increased volume of transactions without increasing our headcount.”

Effectively, TradeSpring empowers Alliance Bank’s end-users to quickly configure and roll out new conventional and Islamic products that are packaged to meet customers’ evolving needs because of its flexibility, tiered-pricing and information visibility.

TradeSpring was successfully implemented for Alliance Bank within 11 months, while GLOS is scheduled for full completion by end 2009.

Being fully browser based, TradeSpring enables Alliance Bank users to access trade transaction information ubiquitously using only their user ID, thus greatly reducing IT support which was previously required whenever access was required.

Furthermore, the system provides a full and extensive audit trail as it allows all transactions to be electronically routed, tracked, and measured.

D.C.

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