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Thailand’s TISCO Bank Selects FIS for Core Banking
|By Business Wire
|May 19, 2014 09:18 AM EDT
(NYSE: FIS), the world’s largest provider of banking and payments
technology, consulting and outsourcing solutions, today announced it has
been selected by Thailand’s TISCO Bank Public Company Limited to provide
core banking system. The deal underlines FIS’ dominance in the
Thai banking market, where five of the top 13 banks in the country are
now using the FIS Profile core banking platform.
TISCO Bank, a subsidiary of Thailand’s leading financial services firm,
TISCO Financial Group Public Company Limited (TISCO), is a growing bank
in Thailand. It’s continuously improving information technology, while
also moving to a real-time, customer-centric banking solution in order
to shift efficiency in business operations to provide quality service
with maximum benefits to customers. With FIS’ Profile® core
banking solution, which is already the country’s most widely used core
banking platform, TISCO Bank will increase its flexibility and
efficiency when providing services to customers.
“The world of banking is changing, with more and more banks looking for
cost economies, without compromising on functionality,” said Raja
Gopalakrishnan, Group Managing Director – APAC, FIS. “FIS allows banks
to focus on their customers, support high-volume growth and provide
real-time integration with all delivery channels. The Asia Pacific
region is one of the fastest growing for FIS. Our dominance in this
dynamic region is based on our unrivalled delivery capability and
world-class product offering.”
“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.”
FIS’ success in Thailand is being mirrored across the region. As banks
in Asia seek to grow their businesses, deliver innovative new products
and maintain a secure, compliant environment, they are increasingly
turning towards managed services such as this. TISCO Bank joins a broad
cross-section of banks around the world that rely on FIS as their
TISCO was established in 1969 as the first investment bank in Thailand.
It pioneered several financial services as it grew to meet the economic
needs of the country before upgrading its status to a full service
commercial bank in 2005. TISCO Bank operates banking business in Retail
Banking, Private Banking, Corporate Banking, Commercial Banking, Cash
Management Services and Corporate Investment. It has assets of $10
billion (U.S.) and serves customers across Thailand through a total
network of 137 branches.
FIS is the world’s largest global provider dedicated to banking and
payments technologies. With a long history deeply rooted in the
financial services sector, FIS serves more than 14,000 institutions in
over 110 countries. Headquartered in Jacksonville, Fla., FIS employs
more than 39,000 people worldwide and holds leadership positions in
payment processing and banking solutions, providing software, services
and outsourcing of the technology that drives financial institutions.
First in financial technology, FIS tops the annual FinTech 100 list, is
434 on the Fortune 500 and is a member of Standard & Poor’s 500®
Index. For more information about FIS, visit www.fisglobal.com.
Follow us on Facebook (facebook.com/FIStoday)
and Twitter (@FISGlobal).
Statements in this release that are not strictly historical, including
any statements referring to beliefs, expectations, projections, or any
other statement regarding events or developments we believe or
anticipate will or may occur in the future, may be “forward-looking”
statements made pursuant to the safe harbor provisions of federal
securities laws. There are a number of important factors that could
cause events to differ materially from those suggested or indicated by
such forward-looking statements. These include, among other things,
changes in general economic, business and political conditions, and
risks of reduction in revenue from the elimination of existing and
potential customers due to consolidation in or new laws or regulations
affecting the banking, retail and financial services industries, changes
in the growth rates of the markets for our solutions, and other risks
detailed in the “Statement Regarding Forward-Looking Information,” “Risk
Factors” and other sections of the Company’s Annual Report on Form 10-K
and other filings with the Securities and Exchange Commission. These
forward-looking statements speak only as of the date of this release,
and FIS does not assume any obligation to update any forward-looking
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