Panin Bank’s deployment of new core banking system improves technological competence
The bank implements Fiserv’s Signature core banking software to enhance limited and ageing IT infrastructure and day-to-day processes in order to achieve growth targets. August 16, 2012 | Carol WheatcroftBackground Panin Bank, Indonesia’s seventh largest bank by asset size, has been on a journey of transformation since 2003. Having survived the Asian banking crisis of the late 1990s without recourse to government support, the bank identified potential for growth in retail and SME markets and set about changing from a wholesale bank to achieve its vision of becoming one of Indonesia’s leading business and retail banks. Pre-2003, the bank had few business or retail banking assets, a small customer base of just over 100,000, distribution channels limited to 100 branches and a few ATMS and an aging employee base that were reluctant to change its working methods, all of which was supported by legacy technology. In order to achieve its vision, Panin Bank initially focused on extending its distribution network and creating a highly customer focused workforce. By 2011, the bank had 441 branches with many accommodating specialised sales centres, 725 ATMS, and an e-banking platform supporting mobile phone banking, as well as personal and business Internet banking. Employee numbers had greatly expanded to include 1300 personal bankers and loan officers serving a customer base of over 1 million, drawn mainly from Indonesia’s middle and upper income segments of business owners and entrepreneurs. As early as 2003, it was apparent that despite focusing on distribution and customer service, the bank’s future growth prospects would be severely restrained by an aging core banking system and restrictive branch automation, especially its teller services. In 2009, the bank signed an agreement with Fiserv, a global provider of information management and electronic commerce systems for the financial services industry, for the complete replacement of its core banking and teller systems. The challenge When the bank embarked on its expansion it was using a reliable but outdated core banking system, purchased fr... Please login to read the complete article. If you already have an account, you can login now or subscribe/register.
Categories: Consumer Credit, Core Banking, Indonesia, Retail Banking, Technology & OperationsConsumer Credit,Core Banking,Indonesia,retail,technology, Consumer Credit,Core Banking,Indonesia,Retail Banking,Technology & Operations, Keywords:Panin Bank, Fiserv, CRM, SICBS Panin Bank, Fiserv, CRM, SICBS
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