Tun Foundation Bank upgrades online systems

TUN Foundation Bank signed a deal last week to purchase Oracle’s state of the art Flexcube Core Banking system, which provides for internet, smartphone and SMS banking services.

Bank chairman U Thein Tun said the move will put Tun Foundation Bank at the forefront of the Myanmar banking industry as it looks to embrace new technology to support its growing customer base with a full range of products and services.

“This will change the way our customers bank, enabling easy cross-branch banking as well as 24-hour, 7-day-a-week access to their money throughout the country,” he said.

The implementation will start immediately, with an eye to formally launching the system at the end of the year, said Tun Foundation consultant Joe Barker-Bennett.

“The key with technology is how you use it and we shall implement international standards of banking practices and procedures to Myanmar,” he said. “It is a key part of the Tun Foundation Bank’s overall modernisation program.”

Privately-owned Tun Foundation Bank opened its doors in 1994 and operates a branch network throughout the country.

Source Myanmar Times

NB: The best way to find information on this website is to key in your search terms into the Search Box in the top right corner of this web page. E.g. of search terms would be “property research report”, ”condominium law”, "Dagon City", “MOGE”, “yangon stock exchange”,"MECTEL", "hydropower", etc.

To learn about the business opportunities in Myanmar click here

To evaluate the various segments of the market that you could possibly enter base on your competencies you can do a Custom Market Entry Strategy Research. You can see a sample report at page "Actual Sample of Client Report”. Click here to go to page.

Do you know that IE Singapore is giving up to SGD 20,000 support for Singapore company to venture into Myanmar? To learn more click here

If you are interested to be listed in our Service Provider Directory as a supplier of services or products that we can use to match with the needs of our clients in Myanmar please fill up the online form by clicking here