CIMB Wins Best Retail Payments Project Award


24 April 2013, The Asian Banker: Press Release

CIMB and Ncore, Consolsys and ACI win Best Retail Payments Project for 2012

  • CIMB and Ncore, Consolsys and ACI developed a proprietary remittance platform that leverages the bank's regional network, enabling the bank to create a competitive remittance product
  • The remittance platform has enabled the bank to dis-intermediate more established third party money transfer organisations
  • The remittance platform also allowed the bank to open up a new network with non-traditional third party providers to offer CIMB's remittance product

CIMB and technology partners Ncore, Consolsys and ACI have been named as winners of the Best Retail Payments Project Award for the year 2012 during the seventh Asian Banker Technology Implementation Awards Programme, held at the Ritz Carlton Kuningan in Jakarta on April 24th 2013. The awards ceremony was held in conjunction with the prestigious award winning Asian Banker Summit 2013, the foremost annual meeting for decision makers in the financial services industry in the Asia Pacific region.

CIMB, working with Ncore, Consolsys and ACI, developed its own proprietary remittance platform that leverages the bank's regional network enabling it to create a competitive remittance product, $Speed$end. By allowing the bank to dis-intermediate more established third party money transfer organisations, the product and associated platform ensures revenues can be contained within the group and gain other efficiency savings through technology and account standardisation. The platform's multi-channel web-based architecture also enables the product to be easily deployed to a new network of non-traditional third party providers such as convenience stores and pawn shops providing ready access to the service outside banking hours.

The awards programme, administered by The Asian Banker and refereed by prominent global bankers, IT consultants and academics, is the most prestigious of its kind. A stringent three month long evaluation process determined the winners from across Asia Pacific and the Middle East. The winners were honoured at a glittering event that recognized their efforts in using the best technology to run their institutions and bring superior products and services to their customers.

    About The Asian Banker

The Asian Banker is the region's most authoritative provider of strategic business intelligence to the financial services community. The Singapore-based company has offices in Singapore, Malaysia, Hong Kong and Shanghai as well as representatives in London, New York and San Francisco. It has a business model that revolves around three core business lines: publications, research services and forums. The company's website is www.theasianbanker.com

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