Transformation of current system leveraging on web-based open system technology
Kuala Lumpur, 17 January 2012 - Bank Simpanan Nasional (BSN) and HeiTech Padu Berhad (HeiTech) held a signing ceremony today at Intercontinental Hotel, Kuala Lumpur to mark their partnership for a Core Banking Replacement Program. The signing of the agreement was witnessed by Tan Sri Dr Wan Abd Aziz Wan Abdullah, Secretary General of Treasury.
BSN has selected HeiTech and its partners BML Istisharat and Juris Technologies to undertake the delivery of the Core Banking and Loans Origination and Collections systems for both the conventional and Islamic banking products as well as services. The program which will take 24 months to complete and to be deployed at all BSN branches nationwide, involves a synergistic partnership of skilled resources from both BSN and HeiTech together with its partners as well as an investment of approximately RM 100 million.
According to Adinan Maning, Chief Executive of BSN, ““The Core Banking Replacement Program is a mission critical program that will effectively address the strategic and day to day challenges, help to achieve greater efficiency as well as speed up the rollout of new products and services for BSN.” He further emphasised that BSN is certainly transforming and moving forward to stay competitive. With a system that is modular, scalable and highly flexible, Adinan expects that it will provide the bank the much needed flexibility to innovate and adapt to the dynamic environment.
The web based technologies, 24 x 7 availability and other new capabilities will enable BSN to meet the challenges of managing competition, customer demand and compliance. To meet the demand for Syariah compliant banking products and services, a dedicated module complying with Syariah principles is also included.
Meanwhile, Executive Chairman of HeiTech Padu Berhad, Mohd Hilmey Mohd Taib, said, “HeiTech has more than 15 years of experience in providing ICT infrastructure solutions mainly in network and data center for the various market segmentation including the public, corporate, and financial services sectors. Thus, I believe this smart move by BSN is so timely and we are honoured to be entrusted again by BSN to transform its current system to a web-based open system technology.”
“I am also happy to inform you that for this project, HeiTech will collaborate with our partners from BML Istisharat and Juris Technologies who are the subject matter experts in banking solutions. BML Istisharat is the principal of the ICBS Core Banking System from Lebanon with more than 70 banking systems implementation reference sites worldwide. Juris Technologies meanwhile is a local MSC company with proven solutions in Loans Origination and Collections Systems. With our combined expertise and experience, we believe we will be able to provide total value that will meet BSN’s highest expectations.”
Mohd Hilmey added that the applications will give BSN the competitive edge such as cost effectiveness, comprehensive web based, integrated, fast processing, real time, online core banking application which will enable them to improve the overall quality of their banking operations.
Commenting on HeiTech future plans in the financial services sector, Mohd Hilmey said that HeiTech will be aggressive in rolling out its financial solutions to the market with its local and global synergistic collaborations. “I am confident that together we will be able to drive transformational solutions for the financial institution through the deployment of effective technology and deliverables that will help them to improve overall asset quality to make them competitive in providing their banking solutions,” said Mohd Hilmey.
- END -