May 31, 2006
Kuala Lumpur, 31 May 2006 - Regional financial solutions specialist eBworx Bhd has received a letter of intent from Thailand’s third largest commercial bank Kasikornbank Public Company Ltd (KBank) to implement eBworx Digital Credit Management System (DCMS) – Small and Medium Enterprise Loan Module.
The project involved the licensing and implementation eBworx DCMS - Small Medium Enterprise (SME) Loan Module, which will be utilised by KBank’s commercial banking services.
“A formal contract shall be entered in due course for the project, which is expected to be completed in six months. The project is expected to contribute positively towards the future earnings of eBworx,” the company said in a statement on May 31.
eBworx did not disclose the value of the contract.
This is the second project clinched by eBworx from KBank that provides a broad range of consumer, commercial and corporate banking services. The first award was the Corporate Loan Origination project in 2003.
DCMS is one of the modular software applications of eBworx’s Digital Business Centre Suite. It is designed to provide a comprehensive loan application workflow and tracking system for banking organisation to streamline the loan originating process.
KASIKORNBANK Public Company Limited was established in 1945 with registered capital of Baht 5 million and has been listed on the Stock Exchange of Thailand (SET) since 1976. As of December 31, 2003, the Bank is the third largest commercial bank in Thailand as measured by total assets, loans, and deposits.
The Bank with registered capital of Baht 26.9 billion and paid up capital of Baht 23.6 billion, had total assets of Baht 820.9 billion, total deposits of Baht 685.2 billion and total loans and accrued interest receivables outstanding of Baht 531.6 billion. The Bank provides a broad range of consumer, commercial, and corporate banking services, including lending, deposit-taking, credit card services, international trade financing, custodian services, asset management, and investment banking services.
Source: The Edge Daily
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