September 21, 2006
Kuala Lumpur, 21 September 2006 - AmBank Group and eBworx Berhad jointly announced today that eBworx has secured a contract from AmBank Group to upgrade the Bank’s existing Loans Originating Solution for Retail Banking (eLoan System), which was also implemented by eBworx five years ago.
The existing system will be upgraded to eBworx’s latest Digital Credit Management System (DCMS) solution for secured and unsecured loans. It will be known as AmBank Workflow Integrated Solution or AmWINS for short.
To announce this synergistic partnership, a signing ceremony was held today at the Bangunan AmBank Group. At the signing ceremony, AmBank Group was represented by Encik Mohamed Azmi Mahmood, Managing Director, Retail Banking, AmBank (M) Berhad while eBworx was represented by its Chief Executive Officer Mr Tan Suan Fong.
During his speech, Encik Mohamed Azmi highlighted that continuous service quality enhancement was a critical component of AmBank’s business strategy in meeting customer needs and expectations, and that AmBank is constantly investing in latest systems technology as an enabler to enhance productivity and overall costs efficiencies by streamlining processes and reducing paperwork.
He further elaborated, “The implementation of AmWINS provides AmBank with a highly efficient platform to streamline key processes across the loans applications lifecycle. Together with the adoption of six sigma principles for the refinement of business processes, and with the full automation of credit scoring processes, AmBank intends to achieve its strategic objective of first to market by eventually enabling almost instantaneous credit approval.”
“The selection of eBworx Berhad, a leading financial solutions provider, demonstrates the Group’s commitment in adopting the most advanced systems technology for the benefit of our customers,” said Encik Mohamed Azmi.
“This is the second time that the AmBank Group has chosen eBworx to implement its software. AmBank’s repeat order and choice of eBworx’s DCMS is a valuable endorsement that our products are reliable and practical, “said Mr Tan Suan Fong, Chief Executive Officer of eBworx.
“With the AmBank Group, one of Malaysia’s largest banking groups, putting its vote of confidence in eBworx’s products again, we are confident that other local and regional banks will come knocking on our door,” Tan added.
The first time AmBank Group engaged eBworx for DCMS -- Loans Originating Solution or the eLoan System was in the year 2000.
DCMS is one of eBworx’s flagship products. The system will streamline and automate the consumer credit processing cycle of AmBank. In line with the vision of AmBank for better customer service, the system will greatly reduce credit approval cycle turnaround time by linking the bank to external credit bureau, car dealers, solicitors, property developers and loan sales agent. It also allows the bank’s customers to check the status of their loan application via Call Center, branch or Internet.
DCMS is one of the modular software applications of eBworx’s Digital Business Center Suite. It is designed to provide a comprehensive loan application workflow and tracking system for banking organizations to streamline the loan originating process. The software application comes with a built-in intelligent workflow and credit risk engine. DCMS assists banks to improve loan processing efficiency, control credit risk and track loan performance portfolio.
DCMS facilitates the decision making process by automating a number of processes needed by the bank in evaluating the credit worthiness of customers. DCMS filters all loans through preset business rules for credit risk assessment before approval, and hence, facilitates better credit risk management.
Established in August 1975, AmBank Group is the fifth largest banking group in Malaysia and comprises AMMB Holdings Berhad (listed on Bursa Malaysia Securities Berhad) and its subsidiaries AmInvestment Group Berhad (also listed on Bursa Malaysia Securities Berhad), AmBank (M) Berhad, and AmAssurance Berhad.
The Group provides a wide range of merchant banking, commercial banking, retail financing and related financial services which also include Islamic banking business, underwriting of general and life insurance, stock, share and futures broking, investment advisory as well as asset, property and unit trust management.
AmBank Group’s full-fledged Islamic banking subsidiary, AmIslamic Bank, commenced operations on 1 May 2006, continuing a heritage of Islamic banking begun in 1993 and offered through the services of AmBank. Islamic investment banking services are also offered through AmInvestment Group.
AmBank Group’s core philosophy incorporates a deep-seated commitment to the satisfaction of its wide range of customers, with numerous customer-driven initiatives woven into all forms of communication and interaction with all customer groups. A leading example is the Customer F.I.R.S.T programme where AmBank Group staff are Friendly, Innovative, Responsive, Simple and Trustworthy.
eBworx is a home-grown regional financial solutions specialist, providing a wide array of innovative digital commerce solutions to the financial services industry which include software products, technology consulting and systems integration services that enable financial institutions to improve their sales operational efficiency and manage credit risk.
It was granted MSC status on 11 February 2002. In 2001 and 2004, IDC Market Research (M) Sdn Bhd identified the eBworx Group as a “Local Software Hero in Malaysia” as recognition for its position as a significant software company in Malaysia.
It has three wholly-owned subsidiaries – Digital Nervous System Sdn Bhd, incorporated in Malaysia, eBworx International Pte Ltd, incorporated in Singapore and eBworx Technology (Beijing) Co Ltd, incorporated in China. The principal activity of all three companies is the provision of computer software applications and dealing in computer software and hardware for the financial services industry.
Institutional Investors
eBworx institutional investors include OSK Venture Equities Sdn Bhd, a venture capital company of OSK Ventures International Berhad and CSE-Infotech Limited, a wholly-owned subsidiary of CSE Global Limited, which is listed on the Main Board of the Singapore Exchange.
Issued on behalf of eBworx Berhad by Quattro Communications Sdn Bhd. Please direct all media queries to Yong Kwai Meng (yong@quattro.com.my) at Tel: 03.7804.3088, 012.655 9388 or Fax: 03.7804.3086
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