Source: Fidelity National Financial
Fidelity National Financial, Inc. (NYSE:FNF), a Fortune 500 provider of products and outsourced services and solutions to financial institutions and the real estate industry, and its Fidelity Information Services division today announced the renewal of a five-year software maintenance agreement with AmBank Group in Kuala Lumpur, Malaysia.
A client since 1989, this agreement is the fourth consecutive renewal for Fidelity's retail banking solution suite to support the Group's AmFinance and AmBank operations.
AmBank Group, formerly Arab-Malaysian Banking Group, is a leading financial organization in Malaysia and offers a comprehensive range of banking and other financial services, including investment banking, commercial banking, retail financing, leasing, brokerage, insurance, asset/fund management, futures and options trading, and offshore banking. The Group has $15.9 billion in assets under management with AmFinance and AmBank operations accounting for approximately half that figure.
"We are delighted to extend our strategic partnership with Fidelity once again," commented Encik Azmi Mahmood, managing director, AmFinance. "This renewal is based upon clear evidence that Fidelity's solution continues to meet our requirements in order for us to drive forward our business in an increasingly competitive marketplace. We feel we are well positioned to fulfill our commitment to our customers - to provide new and pioneering products and services."
"Our partnership with Fidelity has a strong track record and we look forward to receiving the ongoing reliable and consistent support to our retail banking operations we have come to expect from Fidelity's proven, flexible solutions," Encik Azmi added.
All major components of Fidelity's Enterprise Banking Solutions suite (formerly Systematics), including deposits, loans, customer information and architecture, will continue to be deployed at the bank. This industry-leading suite of products will fully support the retail banking operations of AmFinance and AmBank providing proven processing efficiency and 'best-of-breed' functionality.
"Our software is designed to meet the core account, information management and service delivery processing needs of innovative, forward-thinking financial organizations such as AmBank Group," said John Haley, managing director of Fidelity's Asia-Pacific region. "Therefore we are very pleased that this key client has chosen to continue with what has become a strong and successful relationship. Renewal of this license for the fourth time is representative of a partnership that is working well and equipping the organization with the capability to meet the challenges of today's changing financial marketplace."