FinIQ today announced that CIMB Bank, Singapore went live on the FinIQ distribution platform after a fast track implementation that took less than three months.
Mahesh Bulchandani, CEO, FinIQ Asia, said, "We are happy to meet our client's time-to-market requirement. This implementation has once again proven our ability to deliver complex solutions promptly."
CIMB Bank Group has been using the FinIQ platform in Malaysia since 2009. The system has significantly lowered operational risk by automating the bank’s tranche-based structured deposit and investment products that are offered through its retail branch network. Business processes such as product browsing, subscription management, order aggregation, documentation, customer correspondence, suitability, settlements, post-trade event alerts, payout calculation, corporate action handling, etc. have been fully automated. Apart from the tranche-based products, the branches also trade real-time priced FX linked products using the same platform.