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