Picture of Singapore skyline. Tagline: A Truly World-Class Core Banking, OCBC Bank. Picture of Singapore skyline. Tagline: A Truly World-Class Core Banking, OCBC Bank.

Banking

A Truly World-Class Core Banking: OCBC Bank

Business Challenges

With a dominant presence in both the consumer and business banking segments in Singapore and Malaysia, OCBC is among the core bancassurance providers in Singapore and features as one of the top players in unit trust distribution, home loans, personal credit, small- and medium-sized enterprises market and the Singapore Dollar capital market. While OCBC evaded catastrophic systems failures that seemed to have plagued some of its peers, it was accepted bank-wide that its solutions and systems at that time were rigid, and it took a long time (and an army of programmers) to roll out new products and services, thus retarding time to market and escalating operating costs. Then, ongoing maintenance also continued to weigh down the bank, contributing to recurring expenses and reliability issues. All these were in turn, directly affecting the bank's efficiency and cost-to-income ratio.

Solution from Silverlake Axis

For OCBC's technological transformation and refresh, the bank decided on Silverlake Axis Integrated Banking Solution (SIBS) on an IBM AS400 (Power Systems) Platform. The solution and the platform was able to scale as quickly as the bank's businesses wanted to, and do so in a secure, robust and complaint manner. Given these 'mission-critical' requirements, the Silverlake Axis and IBM Power Systems combination stood neck and shoulder above the rest, as testament from as many as 50 banks in the region that are enjoying the strategic alliance of SIBS sitting on a robust and scalable IBM AS400 (Power System) platform.

Benefits to the Business

The benefits are principally measureable in qualitative terms, with OCBC expecting to enjoy operational efficiencies, and quicker time and lower cost to market in terms of rolling out innovative best-in-class products and capabilities in Singapore, Malaysia and the rest of the region. SIBS continues to serve its intended purpose by enabling the bank to service increasingly capricious and challenging customers better and faster than competitors. OCBC continues to excel in customer centricity and continue to offer new locations, new channels, new products and new services to both its consumer and corporate customers.