November 18, 2005
Kuala Lumpur, 18 November 2005 - eBworx Bhd has secured a letter of intent from RHB Bank Bhd to implement the trade finance solution TradeSpringLite.
The TradeSpringLite solution is developed by eBworx 50%-owned associate SpringWorx Technovations Sdn Bhd.
In a statement on Nov 18, eBworx said the project for RHB Bank involved the application software license and professional services.
It is expected to be completed within six months.
“We are excited about this project as it is the first product rolled out by our associate SpringWorx Technovations, which specialises in Trade Finance solutions,” said Tan Suan Fong, chief executive officer of eBworx.
TradeSpringLite will allow RHB Bank to provide desktop Trade Finance to its SME and corporate clients via the Internet.
“TradeSpringLite is a state-of-the-art Internet-based Trade Finance system with straight through processing,” said Destine Lim, chief technology officer of SpringWorx Technovations.
This is eBworx third project with RHB Bank. The first was for the Digital Collection and Recovery Management System while the second one was for the Corporate Cash Management System.
“The decision by RHB Bank to implement the TradeSpringLite solution is a solid vote of confidence. Furthermore, RHB Bank is a repeat customer and this third project with the bank proves yet again that our products are relevant and practical,” added Tan.
Source: The Edge Daily
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