Bank of Shanghai streamlines operations, improves customer experience
Bank of Shanghai streamlines operations, improves customer experience
By Victor Ng | Dec 10, 2008
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The Bank of Shanghai is adopting the HP Adaptive Bank architecture combined with TEMENOS T24 core banking software to centrally manage 13 million accounts and process more than 2.5 million transactions per day from a single point of contact.
HP, Temenos and Bank of Shanghai have announced the implementation of a core banking solution at Bank of Shanghai to streamline operations, reduce time to market for new products, and enhance the experiences of the bank’s customers.
The core banking solution is expected to transform the bank’s retail banking operations by supporting a wide range of products and services, including deposits, loans and Internet banking. In addition, it will support regional payments services including the China National Payment System and China Union-pay.
“HP and Temenos successfully implemented the core banking system along with the Bank of Shanghai team, which is a milestone in our cooperation,” said Jiang Hong, vice president, Bank of Shanghai. “With the implementation and application of the core banking system, our service vision to be ‘customer centric’ will be taken to the next level."
Meanwhile, said Jiang, the core banking system will help the bank boost its business development with a flexibly managed system of customized products, highly efficient business operations and international rules of business management.
“Bank of Shanghai will be able to quickly respond to the needs of its customers across multiple delivery channels, while reducing its total cost of technology by implementing HP’s and Temenos’ solutions,” said Mike Blum, vice president, Financial Services Industries, HP. “By leveraging HP’s extensive knowledge of the Chinese and international banking markets, Bank of Shanghai will have a core banking system that drives competitive advantage today and into the future.”
“By collaborating with Temenos, Bank of Shanghai is supporting its long-term business goal of becoming a truly international bank with global scope,” said Andreas Andreaedes, chief executive officer, Temenos. The new system helps to "improve performance as well as ‘future proof’ their core banking infrastructure with scalable and flexible software and hardware solutions,”
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