Infosys to power GTB’s digital strategy in Myanmar
Global Treasure Bank (GTB) in Myanmar has implemented Infosys Finacle’s core banking solution to power its retail and corporate operations, reports Jane Connolly.
Finacle is understood to have replaced the Kastle core banking system, from another India-based vendor, 3i Infotech.
Since the implementation, the bank says it has signed up nearly 75,000 new accounts of various types, with each onboarding process taking just minutes. It has also seen improved control and productivity in its 163 branches, thanks to built-in workflow engines.
GTB is now processing an average 300,000 mixed transactions per day and is benefiting from the “360-degree view of customer relationships and transactions” that Finacle provides.
“For over two decades, GTB has stayed true to our mission of comprehensive economic development of Myanmar through reliable, inclusive and convenient banking services,” says U KoKo Aung, CEO, GTB. “Today, to continue to abide by this commitment in an increasingly complex regulatory and competitive environment, we felt the need for a modern platform to power our banking strategy.”
Venkatramana Gosavi, senior vice-president and global head of sales, Infosys Finacle, states that the Myanmar banking industry is undergoing a transformation.
He adds: “With Finacle, GTB has gained a strong foundation to boost agility and efficiency of operations, and significantly improve customer experience across channels.”
The implementation process was aided by ACE Data Systems, Finacle’s business partner in Myanmar.