CIMB Group integrates transaction banking across the region

Introduced single internet banking platform across Malaysia, Indonesia, Singapore and Thailand.

CIMB Group on Monday inked an agreement with PT Aprisma Indonesia to form a strategic partnership to roll out BizChannel across Malaysia, Indonesia, Singapore and Thailand, according to a CIMB report.

“In view of our strategy to grow our current and saving accounts (CASA) and Fee Income as well as embed our branding as a solid Transaction Bank in ASEAN, this project is to introduce a single internet based front-end platform for corporates, consolidating both Trade Finance and Cash Management products and services,” said Arwin Rasyid, President Director, PT Bank CIMB Niaga, Tbk.

Speaking at the signing ceremony on behalf of the Group, Arwin explained that the technology provided by Aprisma includes simple features from Letter of Credit openings to complex Supply Chain modules under Trade Finance with new Account Structure models and Mobile Authorisation under Cash Management. It also contains Enterprise Resource Planning integration capabilities.

Dato Sri Nazir Razak, Group Chief Executive, CIMB Group signed the agreement while PT Aprisma Indonesia was represented by its Chairman, Iljas Ridwan.

Meanwhile, Susanto Chandra, Managing Director of PT Aprisma Indonesia said, “We are honoured that CIMB Group has awarded us this regional mandate. Our technology capabilities and up-to-date features and modules will support CIMB Group's efforts to further grow its transaction banking business and promote efficiency.”

Arwin also explained that the project is also to unify CIMB's Transaction Banking franchise across Malaysia, Indonesia, Singapore and Thailand and to promote 'Forward Banking' by introducing new BizChannel, as the regional Champion Product for Transaction Banking.

“This partnership with Aprisma reflects CIMB Group's support for local companies throughout the region. We are an indigenous ASEAN franchise and we will continue to provide opportunities for local companies to regionalise their businesses alongside our own,” Arwin added.