Picture of city skyline. Tagline: Tale of Two Super-Regional Banks and Their Core Banking Transformation. Picture of city skyline. Tagline: Tale of Two Super-Regional Banks and Their Core Banking Transformation.

Banking

Tale of Two Super-Regional Banks and Their Core Banking Transformation

Business Challenges

Two of the largest banks in South East Asia embarked on a transformation to make their core banking systems contemporary – to cater to the very rapidly evolving banking environment of regionalization push, heightened compliance, competition, system unification and the many new ways in which customers want to bank. Driven by a combination of these factors, OCBC Bank and CIMB Group, both powerhouses in the markets in which they operate, pushed ahead to modernize their core banking systems over the past three years.

Solution from Silverlake Axis

Silverlake Axis was chosen by both banks after their respective extensive search and thorough evaluation of potential solution providers. While both banks have different requirements and scope, there are also common threads in the need for a reliable, robust and scalable solution that has proven regional capabilities and which allows for quick product development and speedy rollout, enables product bundling and effective cross-selling, while delivering differentiated customer experience through client-fronting channels. Silverlake Axis’ core banking solution met the stringent requirements of the two banks and we successfully implemented the systems together with the two banks.

Benefits to the Business

A contemporary core banking system opened up new possibilities for the two super regional banks to realize their expansion in a scalable and efficient manner. For OCBC, this is illustrated by its fast-moving advantage in technological innovation on mobility, among others, and the successful cross border implementation of best-in-class products and front end platforms. For CIMB, it has reported significant improvements in its branch and teller systems and its loans and credit systems, enabling it to respond more efficiently to market and regulatory requirements. Silverlake Axis’ core banking system has positioned these two banks at the forefront of a new landscape where business transformation enabled by technology can now take off.