Myanmar’s Global Treasure Bank (GTB) has implemented Infosys Finacle’s core banking solution across 163 branches in the country.
The deployment of the new platform will support its retail and corporate operations as well as enhance its customer experience and product portfolio.
Finacle implemented the core banking solution in collaboration with ACE Data Systems, its business partner in Myanmar.
Global Treasure Bank CEO U KoKo Aung said: “For over two decades, GTB has stayed true to our mission of comprehensive economic development of Myanmar through reliable, inclusive and convenient banking services.
“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.
“We believe our investment in Finacle’s industry leading platform, will help deepen our customer relationships through scalable, innovative and contextual banking experience.”
Following the implementation, the bank has been processing an average of 300,000 mixed transactions daily.
It has also streamlined customer on boarding process with nearly 75,000 new accounts opened since the Finacle solution went live, the bank said.
The platform also provides with a complete overview of customer relationships and transactions to the bank.
Infosys Finacle senior vice-president and global head of sales Venkatramana Gosavi said: “The Myanmar Banking industry is amidst a transformation, requiring rapid technology advancements to keep pace with policy reforms and changing customer expectations to compete in a global playing field.
“With Finacle, GTB has gained a strong foundation to boost agility and efficiency of operations, and significantly improve customer experience across channels.”
Earlier this month, Infosys Finacle partnered with Lemnisk to develop new digital marketing platforms for financial institutions.