Asian-American financial services firm Cathay Bank is to shift from an inhouse online banking system to an ASP-based service from Digital Insight.
The bank, which has 29 branches in the US and representative offices in Hong Kong and China, has signed a new five-year agreement that will convert all of its online consumer and business customers to Digital Insight's Internet Banking and Cash Management software. The installation will feature graphical user interfaces in both English and Chinese and advanced user functions, including global payments and wireless banking.
Jeff Stiefler, chairman, president and CEO for Digital Insight says that many financial institutions like Cathay Bank are warming to the ASP model as an efficient and affordable alternative to running and maintaining an inhouse system.
The vendor currently claims 1730 financial institution clients.