3i Infotech (Thailand) Ltd, a leading provider of IT products and services for Banking, Financial Services & Insurance (BFSI) industry, has been awarded a contract to license and implement KASTLE™ Universal lending, its Loan Origination Solution, at Siam City Bank (SCIB), one of the leading banks of Thailand to power its lending operation across 370 branches.
The decisive criteria for the selection were:
• Comprehensive functionality,
• Cutting edge technology,
• Robust integration features,
• Flexibility & parameterization and
• Excellent references from existing 3i Infotech customers.
The decision comes after a diligent selection process, which included a detailed RFP process and carrying out a ‘Proof of Concept’ to meet the bank’s requirement.
Under the terms of the agreement, SCIB will be able to leverage KASTLE™ Universal Lending to automate and manage the complete customer acquisition cycle of any retail and corporate finance instrument, ranging from auto loans, personal loans, home loans, credit cards and corporate loans. The KASTLE™ Universal Lending solution would also enable the bank to introduce new product offerings, reducing time-to-market and automating processes so as to provide a distinguishing factor within the retail and corporate loan space.
To ensure the bank drives maximum benefit, this project will be done in 3 phases with first phase going live within 4 months of starting the project. As part of the implementation, the product will interface with 11 different systems of the bank including the bank’s core banking solution.
“We are delighted to have Siam City Bank as our esteemed customer shortly after we opened our Thailand office. As part of our promise to deliver value to Siam City Bank, we will transfer the entire technological knowledge to the bank’s product champions and IT staff to make them independent. 3i Infotech is determined to make the bank as one of its best reference site in shortest possible time in Thailand” said Mr. Jay Shankar, Country Manager, 3i Infotech, Thailand.