Source: Fiserv CBS Worldwide
Fiserv CBS Worldwide, a division of the Fortune 500 company, Fiserv (NASDAQ: FISV), announced today that Commercial Bank of Ceylon Ltd. will upgrade its International Core Banking Solution (ICBS) to version 8.1 and its front-end teller solution (CBS Teller) to version 2.0, both of which are provided by Fiserv CBS Worldwide.
A successful growth-oriented bank in Sri Lanka with 161 branches and $2.4 billion in assets, Commercial Bank of Ceylon has been a Fiserv client for more than 13 years. The combination of ICBS and CBS Teller will enable the bank to provide improved services to its customers. The .NET Smart Client teller solution supports a central server setup, which eliminates the need to have a teller server in each branch and streamlines operations.
"By centrally managing the administration of teller functions, we will be able to control and standardize the processes for each branch from one main location," said Ajith Wijayasundara, head of Information Technology, Commercial Bank of Ceylon. "The most important benefit of this upgrade, however, is the reduction in hardware and corresponding support costs that will result from this implementation."
A loyal client of Fiserv, this is the third upgrade that Commercial Bank of Ceylon has undertaken since becoming a client in 1993. "The confidence that Commercial Bank of Ceylon continuously exhibits for Fiserv CBS Worldwide solutions, people and support is a great reflection of our strategic relationship with the bank," said David Hamilton-Matthews, managing director, Fiserv Asia-Pacific. "By recognizing the advantages of the new functionality that will be provided to the bank from our latest releases, Commercial Bank of Ceylon continuously demonstrates leadership in innovation for both the bank and their customers."
The upgrade of both ICBS V8.1 and CBS Teller V2.0 has already begun at the bank and is expected to be completed by the middle of 2008.