Epic helps Malaysia's biggest bank to grow
The biggest savings bank in Malaysia, Bank Simpanan Nasional (BSN)
says through higher loan revenues and increased community banking
activities they expect a 25% growth in profitability during 2012. This
state owned bank which is targeting a net income of RM 1.3 billion
commenced expansion of its infrastructure with innovative delivery
channels by introducing branchless banker solution developed by Epic
Malaysia Sdn Bhd, a MSC status software firm fully owned by Epic
Technologies Group in Sri Lanka.
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A customer
at the bank |
As reported in the Kuala Lumpur based newspaper, The Star on 11th
September, Banking Beyond Branches or 3 B which is still under
implementation has generated 1.3 Million transactions within a very
short period of time through 2,000 agents. According to Winston E
Jeyaprakash, Deputy CEO (Retail banking) BSN expects a higher
contribution from on-line banking services. BSN has plans to appoint
4,000 agents scattered all over the country to offer cost effective and
convenient on-line real time banking to Malaysians.
"Opening a branch would cost a lot more - buying or renting the
building or office, renovations, operating expenditure, and so on"
explains Azadin Ngah Tasir, Senior Vice President and Head of Community
Business as quoted in Kembara Plus.
By giving out POS terminals to the appointed agents who must have an
established business as a mandatory criterion in appointing BSN has
widened its reach to the people at a minimal cost, he says.
A spokesperson from Epic said they are very proud of their innovative
solutions that are recognized in the region in terms of appreciations
and accolades as well as through major national implementations.
Epic Malaysia is a fully owned subsidiary of Epic Technologies Group
of Sri Lanka which has an impeccable track record in serving the local
banks over the past 14 years.
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