Ares International Corp. recently signed a contract with Taiwan's Mega International Commercial Bank for the Society for Worldwide Interbank Financial Telecommunication (Swift) project of its branches in Canada and Malaysia, with the project to be completed before year-end.
Ares has been a partner of SWIFT for years and has abundant best practices in related areas. Meanwhile, Mega Bank has worked with Ares in the past two years and is pleased with the performance of Ares. Therefore, the bank is working with Ares again for the new project.
ARES has helped Mega's branches in Singapore, Tokyo, Osaka, Panama, Manila, Silicon Valley, Los Angeles, Chicago and the Netherlands to connect to the SWIFT host of Mega in Taiwan.
This year, Ares will assist Mega to move the SWIFT license of its Canada branch to its SWIFT host in Taiwan while its Labuan branch in Malaysia will see its newly-applied SWIFT bank code installed in the existing SWIFT host in Taiwan. This will significantly reduce operational expenses and provide a more complete operational environment and support for Mega's overseas branches.
With centralized resource management, Mega can reduce its operational costs and does not have to worry about temporary lack of professional staff in the overseas branches. Moreover, there will be no system modification issue when SWIFT versions are updated or changed. As a result, the overseas branches can focus on local operations while its information system will be run by the headquarter office of Mega.
Mega Bank Co., Ltd. was the remaining entity of the merger of International Commercial Bank of China and Chiao Tung Bank. The bank now has 108 branches in Taiwan, 19 in overseas regions and three representative offices. The number of its overseas offices totals 31, including subsidiaries and branches in Thailand and Canada.