Thailand's Siam Commercial Bank (SCB) has selected Financial Objects' component-based ActiveBank .net to support treasury operations for its branches in Singapore, Hong Kong and offshore loan business in Bangkok.
The bank has been using the vendor's legacy Ibis product for seven years, but has chosen to migrate to Windows-based ActiveBank .net in a bid to tighten its control over treasury functions and provide clients with access to a wider variety of products via the Internet.
The new technology will integrate workflow and support functions associated with a broadly defined treasury operation. It will also deliver high trade capacities, streamlined transaction processing and reliable cost effective risk management, says the company.
Khun Maleerat Plumchitchom, executive president, SCB, says: "We needed to upgrade our Ibis AS/400 technology to a windows-based system. We have tried and tested Financial Objects' Ibis for seven years and are happy with both the product and the level of service. Our requirement was to implement a system that could handle both international treasury and risk management."