London, 12 February 2002 - Financial Objects, a leading supplier of advanced technology banking software and services, today announced that Siam Commercial Bank (SCB), one of the largest banks in Thailand, has selected component-based ActiveBank .net to support treasury operations for its branches in Singapore, Hong Kong and offshore loan business in Bangkok.
This is the first client to migrate from Financial Objects' IBIS solution to
ActiveBank .net. The new technology will integrate workflow and support functions associated with a broadly defined treasury operation. It will also
deliver high trade capacities, streamlined transaction processing and
reliable cost effective risk management.
As ActiveBank .net is Windows-based it is more user-friendly - thereby reducing training costs and increasing employee productivity. It will enable SCB to tighten its control over treasury functions and provide clients with greater flexibility and access to a wider variety of products via the internet. The internet-enabled system is based on reusable, Microsoft-based components, ensuring a highly scaleable solution, which can be easily modified according to future requirements.
Khun Maleerat Plumchitchom, executive president, SCB, says: "We needed to upgrade our IBIS AS/400 technology to a windows-based system. We have tried
and tested Financial Objects' IBIS for seven years and are happy with both
the product and the level of service. Our requirement was to implement a
system that could handle both international treasury and risk management.
Financial Objects ActiveBank .net was the perfect choice."
Steve Thurley, director, Asia Pacific, Financial Objects, says: "We are delighted to continue our ongoing relationship with such a reputable bank as
SCB. After a long and extensive search for a system, the bank decided to
select ActiveBank .net amongst fierce competition. I believe this is a real
tribute to the product and the underlying technology. ActiveBank .net is
becoming a truly universal system with live core banking references,
wholesale clients and now best of breed requirements such as Treasury. This
marks a new era for Financial Objects with the bank, but also in the region
and we are looking forward to working with such a forward thinking
organisation. We aim to assist SCB in meeting all their future requirements
and in managing their growing business efficiently."