RESPONDING to the financial services market's call for the adoption of new technology and advancement, Siemens Malaysia Sdn Bhd has once again lent a hand to provide innovative business solutions to meet growing demand in the industry.
To this end, the company would be providing banking institutions in Malaysia with flexible information technology (IT) infrastructure and systems, and cash recycling automated teller machines (ATMs) to make them more competitive and efficient.
Siemens Integrated Business Solutions (IBS) senior vice-president Ling Chee Hoe said the company had been providing business solutions and IT services to banks in the country for more than 20 years and would continue to roll out more innovative services and products to meet the banking industrys needs.
Siemens IBS is the system integrator and information and communication technology division of Siemens Malaysia.
Having this flexible IT infrastructure in place would now enable banks to comply with the international Basel 2 accord in relation to document processes and risk management, he added.
Together with our US-based partner Documentum Inc, an integrated content management provider, we are able to provide banks with the right infrastructure and systems for them to support their documentation processes and audit trail and ensure that proper documents are in order.
This will help banks to be more efficient and productive and be able to compete with their foreign counterparts in the market. We launched these business solutions in Malaysia early this month and hope to tie up with three local anchor banks some time next year,'' he said during an interview in Petaling Jaya.
According to Ling, Siemens has already set up flexible IT infrastructure and systems that are Basel 2 compliant for some banks in Europe like ABN Amro Bank and Barclays Bank.
Cash recycling ATMs is another business solution that Siemens is confident would be well received by banks here, in line with the rising trend in Japan, China and Europe.
With these ATMs, customers would soon be able to deposit and withdraw funds from one machine instead of separate ones currently, Ling added.
The two-in-one ATM is developed by Austria-based Keba AF and officially distributed by Siemens.
The machine allows for more than 200 banknotes to be deposited at one go and allows for up to 2,500 banknotes to be sorted and stored in each tray. A total of five trays are inserted in each machine, enabling a total of 12,500 banknotes to be stored at one time, Ling noted.
Apart from being able to store up to RM1.25mil per machine, the bank could also save more than 50% on operation and refilling costs, he said.
He said the machine was fully equipped and integrated with a software that would be able to detect counterfeits and almost immediately accept new notes issued by the central bank.
Siemens is currently talking to a few anchor banks in the country and hopes to tie up with them next year. The machine was launched in Malaysia earlier this month.
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