KUALA LUMPUR: CIMB Group will invest RM1.1 billion over the next five years to implement a regional core banking platform called the 1Platform for Malaysia, Thailand, Indonesia and Singapore.
The banking group will work with four TECHNOLOGY [] partners, Malaysian-based Silverlake Axis, Accenture, IDS Scheer and IBM to implement the platform.
1Platform is the largest component of the group's regional operations transformation blueprint, which is expected to cost RM2.1 billion. The platform's implementation will be on a country-by-country basis starting with Thailand and followed by Malaysia, Indonesia and Singapore and will finish by 2015.
Its group chief executive Datuk Sri Nazir Razak, who witnessed the signing ceremony between CIMB and its partners on Monday, Aug 23, said this move will enable the bank to shift to a customer centric approach from its current product centric approach.
On its listing plans, Nazir said that it is still on track to list its Thai operations by year end. As for Indonesia, it is still ironing out the details and "stands ready to apply" for it after.
The banking group will work with four TECHNOLOGY [] partners, Malaysian-based Silverlake Axis, Accenture, IDS Scheer and IBM to implement the platform.
1Platform is the largest component of the group's regional operations transformation blueprint, which is expected to cost RM2.1 billion. The platform's implementation will be on a country-by-country basis starting with Thailand and followed by Malaysia, Indonesia and Singapore and will finish by 2015.
Its group chief executive Datuk Sri Nazir Razak, who witnessed the signing ceremony between CIMB and its partners on Monday, Aug 23, said this move will enable the bank to shift to a customer centric approach from its current product centric approach.
On its listing plans, Nazir said that it is still on track to list its Thai operations by year end. As for Indonesia, it is still ironing out the details and "stands ready to apply" for it after.
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