Brussels, 20 October 2004 – Callatay & Wouters, the Belgian financial services software provider, today announced that PT Bank Commonwealth (PTBC) of Indonesia has successfully implemented the Thaler banking system. A subsidiary of Australia’s Commonwealth Bank, PT Bank Commonwealth (PTBC) is one of Indonesia’s fastest growing wealth management institutions with branches throughout Indonesia.
The Thaler solution from Callatay & Wouters was deployed in less than six months, replacing an ageing PC-based DOS system which was unable to provide the flexibility and functionality that was required by the bank in managing its growth in Indonesia. Critical to winning this key account was Callatay & Wouters’ proven track record in the highly competitive European market where it has more than 25 leading financial institutions on its customer list.
According to Symon Brewis-Weston, President Director of PT Bank Commonwealth (PTBC), “we have seen very strong growth these last few years and have built a very strong customer base by providing a wide range of wealth management products. However, as our clients have become more sophisticated and demanding, we found our legacy banking software system was inadequate in providing the necessary support to manage the information and operational requirements.”
“After evaluating several alternatives, we realised that Callatay & Wouters’ Thaler system offered the rich functionality and flexibility to manage our current needs and also to support our continued growth”, he added.
Stringent Selection Criteria
Implemented in five and half months, the final selection of Callatay & Wouters’ Thaler application was based on stringent criteria including robust technical specifications, operational compatibility, technical scalability and most importantly, service and support standards including service level agreements.
Explained Marc De Groote, Head of International Business Development & Expansion, Callatay & Wouters, “Our track record with financial institutions in Europe and Asia was a major advantage in securing this customer. However, PTBC was very particular and precise in specifying their needs for the present as well as the future. Our team worked closely with the bank to not only identify key and current issues, but also provide pro-active support in developing a solution that would be able to manage growth for the future”.
Confirming this consultative support approach, Brewis Weston noted that “Callatay & Wouters was able to transcend the cultural boundaries effectively in working with our largely Indonesian team. Their team’s technical capabilities as well as their applications functionality were also key considerations.”
New System to Streamline Information Flow
The new system will enable PTBC to streamline information across the bank, from the front office where the customer facing tellers require real-time data and information, to the back office where transactions must be processed efficiently with minimal human intervention. Other key considerations also included enabling the incorporation of all seven branches within the information network as well as providing the flexibility for the growth of the bank’s automated teller machine (ATM) network.
Callatay & Wouters partnered with experienced Indonesian systems integrator Epicentrum on this project. The tripartite relationship worked well as each party brought specialised knowledge and skills set to the engagement. According to Marc de Groote, “The local partnership with Epicentrum was critical in ensuring this relationship worked. Their local market knowledge as well as their cultural appreciation and technical understanding made it easy for our consultants to engage with PTBC.”