Admerex Limited (ASX:ADL) today announced an agreement with ABN AMRO Bank to implement its CWX software in India and Pakistan. Admerex CWXtm (CWX) is one of the world’s leading credit and collections software packages.
The system will cover all ABN AMRO lending products, including credit cards, personal and mortgage loans. This agreement takes to six the number of country implementations for ABN AMRO and follows the recent implementation of CWX in Singapore and Indonesia. Admerex had already installed its CWX software in Hong Kong and Taiwan.
The implementation of the systems is expected to commence immediately in both locations.
Commenting, the CEO of Admerex, Mr Kim Goodall, said: "Admerex has positioned itself to become a leading software and services provider in the credit and receivables management marketplace underpinned by long term relationships with blue chip clients such as ABN AMRO."
"Our strategy is to offer our current and potential clients solutions at every step of the credit and receivables lifecycle, from client acquisition and credit risk assessment to repayment and delinquency management and recovery," he said.
The recent implementation at ABN AMRO Indonesia and Singapore coincides with the completion of the second stage of the implementation at Planters Bank in the Philippines where CWX is now utilised for its entire product portfolio which includes over 300 banking products.
Separately, ADMEREX Limited [ASX:ADL], a provider of credit and collections systems, today announced that Banque Saudi Fransi has selected Admerex CWX™ (CWX) to replace its core collections systems. Banque Saudi Fransi is a subsidiary of Credit Agricole and is headquartered in Riyadh, Saudi Arabia.
The agreement was secured with the assistance of Admerex's local Middle Eastern partner InCube of Dubai. Local support is to be provided by Arab Digital Computer Co. Ltd. (Ardico-Unisys) of Saudi Arabia.
Khaldoon Kaylani, InCube's Managing Director says: "The agreement marks a milestone in the region." Adding, "The market recognises the need for sophisticated collections software to address the huge growth in consumer banking in the Middle East. With the fully Arabised version of Admerex CWX, we are demonstrating our continued support to the needs of the local market."
Banque Saudi Fransi will install CWX, one of the world's leading credit and collections software packages, to improve collections and recovery rates while increasing efficiency in the collections department.
Mohammed Al-Shabanah, Collections Department Manager, Banque Saudi Fransi, said: "We needed a system with the flexibility to quickly incorporate new products and strategies, integrate with our other applications and deliver reports according to our needs. We chose Admerex because of its advanced technology and proven expertise. Speed of installation is also crucial for us and CWX offers a single integrated product with a straightforward implementation path."
CWX will bring Banque Saudi Fransi’s collection activities together across its credit card, mortgages and personal loans portfolio.
The Bank required a system with extensive functionality and a multi-language capacity, including Arabic, as well as special functions to accommodate Hijri calendar processing.
The system will be installed and interfaced with the Bank's main processing systems as well as the Altitude dialer.
Kim Goodall, CEO, Admerex, said: "With its flexible rules management and reporting, the market is increasingly recognising the magnitude of the returns that are achievable from using CWX. Advocating self sufficiency, we are able to drive down the cost of ownership of our clients' collection systems through the rapid implementation and modification of CWX."