JMR Infotech wins core banking deal from ST Bank

Source: JMR Infotech

JMR Infotech, a leading technology solutions and services provider, today announced that ST Bank, Laos has selected the company as a strategic partner to deliver a new core banking system.

JMR Infotech will implement Oracle FLEXCUBE Universal Banking at the bank replacing its legacy system.

By implementing a new-generation core banking solution, ST Bank plans to optimize its operational efficiency, profitability and growth. With Oracle FLEXCUBE, ST Bank hopes to provide superior customer experience with faster delivery of new and agile products and services and secure feature-rich banking channels such as mobile and internet banking. Oracle FLEXCUBE will provide ST Bank with the ability to improve business intelligence and decision support, provide better cross-sell and up-sell opportunities and reduce operating costs with ease of IT management.

As part of the deal, JMR will also implement Oracle Banking Digital Experience for internet banking and mobile banking. JMR Infotech will provide Oracle Hardware and Technology required for the core banking and digital banking solutions.

Additionally, ST Bank has also procured two of JMR products namely JMR End of Day Management System and Genie De Banca to increase operational efficiency.

Commenting on the deal, Mr. Ekalard Rattanachan- Deputy Managing Director, ST Bank, said “Technology is key to our aspiration to be a leading bank in the region. By implementing a future-proof banking platform and partnering with JMR, we hope to achieve the technological edge in offering world-class products and services to our customers.”

Jayafar Moidu, CEO - JMR Infotech, said “We are glad to partner with ST Bank to help them anchor their IT landscape on a future-proof platform that would help them enhance their performance and meet their growth objectives.”“Partnership with ST Bank is yet another stride for us in strengthening our competitive leadership in South Asia region. With strong local presence in Lao sand reliable delivery track record, JMR Infotech has emerged as a very low risk and cost effective option for banks embarking on a core banking change in Indo-china region,” added Jayafar.

“This is truly a landmark deal for JMR Infotech,” said Ratish Panicker, President - Global Sales & Business Development, JMR Infotech. “This technology transformation would help ST Bank to strengthen its market position as a provider of state-of-the-art banking services, drive incremental sales and also launch innovative banking products. This would enable them to acquire new customers and increase market share by reducing their time and cost to acquire customers. Our relationship with ST Bank has always been remarkable and this project will help enhance and accelerate JMR’s core banking strategy in Laos and the South East Asia region,” added Ratish.
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