Overseas Union Bank (OUB) has gone live with the component-based ActiveBank. net solution from Financial Objects to support loans across its business units in Singapore.
The technology replaces several bespoke and manual systems, and provides a single integrated solution for multi-currency loans, operating across branches in several locations. It also provides increased security, more efficient error handling, an embedded general ledger and comprehensive loan-processing capabilities, says the bank.
Wong Chit Sieng, SVP of the business solutions delivery department, OUB, says: "We needed a single solution that has the capability to handle a variety of loans and provide distributed processing. ActiveBank .net's flexible component-based architecture enables us to set up different loan product types and process these loans from anywhere in the bank, be it a personal computer, delivery channel or the Internet, if desired."