Bank Sinopac has 131 domestic branches and operations in the US, Hong Kong, Vietnam and Macao, Bank SinoPac serves 4 million retail and corporate customers worldwide. Management realized that its 18 year old COBOL based core banking system was losing its ability to remain competitive in the market. Work process inconsistencies were seen that were becoming increasingly expensive to address. With future flexibility and competitive advantages in mind, SinoPac decided to be the first in the world to deploy the Temenos core banking system solution running on Microsoft Windows Server 2008 operating system and SQL Server 2008 data management software.
A critical factor was improving its IT efficiency, reducing IT costs and responding to changing business needs.
“Whether it is a merger or opening a new location, we can start up operations as quickly as possible in each new location with a solid foundation of a unified platform and technology architecture. This allows business and IT to truly be closely integrated. T24 will allow us to standardise our core banking platform to maintain our strong position in Taiwan and grow in highly competitive target markets. Its flexibility supports many local and regional requirements, and will for example enable us to address regulatory guidelines, which is critical to successful market entry. By implementing a new core banking system on modern, open technology we will also be able to reduce maintenance and operating costs.”
– Eugene Huang, Sinopac Deputy Executive General Manager
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