Tisco Bank Thailand opts for FIS core banking tools
Thailand’s Tisco Bank has chosen a new core banking system from US vendor FIS, which it says will help it to provide more real time services to customers.
FIS Profile, the core banking solution, is already used by five of the 13 largest banks in Thailand. Florida-based FIS says it will provide the platform as a managed service for the bank – a solution that is becoming increasingly popular in Asia.
Founded in 1969, Tisco was the first investment bank in Thailand. It became a full service commercial bank in 200 and now operates in retail and private banking as well as corporate and commercial banking, cash management services and corporate investment. The bank has $10 billion in assets and a network of 137 branches.
“Tisco Bank was pleased with the comprehensive capabilities and ease of customization that FIS’ core banking suite offers,” said Yutiga Sonthayanavin, executive vice president, Tisco. “An integrated, hosted solution that provides us highest-quality processing was something we required as we continued to grow our banking services. FIS provided a track record of success that we could depend on.”
Earlier this year, rival tech vendor Fiserv helped Thailand’s Bangkok Bank install a new mobile banking and payments platform. which it said would give customers better security and the bank a stronger presence on mobile devices. Thailand is a member of the Association of Southeast Asian Nations, an organisation that seeks to promote GDP growth and trade links between member states including Indonesia, Thailand, Singapore, Malaysia, the Philippines and Vietnam.