JMR Infotech wins core banking deal from ST Bank
Bangalore, India, 21 October 2016
JMR Infotech, a leading technology solutions and services provider, today announced that ST Bank, Laos has selected the company as a strategic partner to deliver a new core banking system. JMR Infotech will implement Oracle FLEXCUBE Universal Banking at the bank replacing its legacy system.
By implementing a new-generation core banking solution, ST Bank plans to optimize its operational efficiency, profitability and growth. With Oracle FLEXCUBE, ST Bank hopes to provide superior customer experience with faster delivery of new and agile products and services and secure feature-rich banking channels such as mobile and internet banking. Oracle FLEXCUBE will provide ST Bank with the ability to improve business intelligence and decision support, provide better cross-sell and up-sell opportunities and reduce operating costs with ease of IT management.
As part of the deal, JMR will also implement Oracle Banking Digital Experience for internet banking and mobile banking. JMR Infotech will provide Oracle Hardware and Technology required for the core banking and digital banking solutions.
Additionally, ST Bank has also procured two of JMR products namely JMR End of Day Management System and Genie De Banca to increase operational efficiency.
Commenting on the deal, Mr. Ekalard Rattanachan- Deputy Managing Director, ST Bank, said “Technology is key to our aspiration to be a leading bank in the region. By implementing a future-proof banking platform and partnering with JMR, we hope to achieve the technological edge in offering world-class products and services to our customers.”
Jayafar Moidu, CEO – JMR Infotech, said “We are glad to partner with ST Bank to help them anchor their IT landscape on a future-proof platform that would help them enhance their performance and meet their growth objectives.”“Partnership with ST Bank is yet another stride for us in strengthening our competitive leadership in South Asia region. With strong local presence in Lao sand reliable delivery track record, JMR Infotech has emerged as a very low risk and cost effective option for banks embarking on a core banking change in Indo-china region,” added Jayafar.
“This is truly a landmark deal for JMR Infotech,” said Ratish Panicker, President – Global Sales & Business Development, JMR Infotech. “This technology transformation would help ST Bank to strengthen its market position as a provider of state-of-the-art banking services, drive incremental sales and also launch innovative banking products. This would enable them to acquire new customers and increase market share by reducing their time and cost to acquire customers. Our relationship with ST Bank has always been remarkable and this project will help enhance and accelerate JMR’s core banking strategy in Laos and the South East Asia region,” added Ratish.
About JMR Infotech
With delivery and development centers in India, sizable global presence and customers spread across 5 continents, JMR Infotech is a leader in Information Technology solutions and services. In our short existence, since 2007, we have grown to have top brands as our clients.
Our leadership in the IT domain is backed by better understanding of our client’s business needs and innovative solutions to advance their business goals. The title of World’s first Oracle Platinum Partner fully specialized in all financial solutions is a testimonial to our comprehensive offering, strong focus and unmatched expertise in BFSI domain.
In August 2014, Global Banking & Finance Review recognized JMR Infotech’s thought leadership, technical prowess and customer focus by presenting Best Core banking Technology Provider award for Middle East and Africa region.
Silicon Review, in 2015, recognized JMR Infotech as one of the 50 Fastest Growing Tech Companies in recognition of our creativity in innovation, customer orientation and domain expertise.
JMR Infotech has been awarded with the title of ‘World Business Leader’ by World Confederation of Businesses in November 2015.
Our ed-tech solutions have been awarded for Best Innovation in Education Technology for Schools at the 7th World Education Summit organized by Elets Technomedia in August 2016.
Our offerings are delivered through our unique customer centric Extended Arm engagement model through which we work as Extended Arm of our clients, helping them reduce investment and total cost of ownership.
About ST Bank
S.T. Group Co., Ltd. is a multi-business company established in 1994. ST Group is continuously developing and expanding, ST Group Co., Ltd started focusing on the banking area and they have established ST Bank in 2009 in order to provide financial services to cover their society effectively, ST Bank has planned to have branches in all the provinces in Laos P.D.R.