Bangkok Bank Chooses Corillian to Boost Online Banking in Thailand.Business Editors, High-Tech Writers PORTLAND, Ore.--(BUSINESS WIRE)--July 25, 2001 Bangkok Bank Bangkok Bank Public Company Limited, is a Thai commercial bank, with approximately US$43 billion in total assets. Its branch network includes over 700 branches within Thailand and 21 branches overseas. Bangkok Bank was established in 1944. , Thailand's largest commercial bank, with assets of nearly $30 billion and a customer base of more than 10 million account holders, has appointed Corillian (Nasdaq:CORI), a leading global provider of eFinance enabling software, to develop its Internet banking service. The Corillian Voyager Internet banking platform is a robust, secure system with a proven ability to handle large volumes of online customer traffic. This will enable Bangkok Bank to offer its customers personalized per·son·al·ize tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. financial management tools and portal access as well as one-to-one marketing. The service will be feature-rich, easy to use, reliable and provide a high level of security. It will also be highly dynamic with the ability to provide constant updates and new features in response to market demand. "As Thailand's largest commercial bank we are determined to offer the best Internet banking service in Thailand," said Chartsiri Sophonpanich, president of Bangkok Bank. "We want to provide our customers with financial solutions that are flexible and that can expand and grow in line with their changing needs. Bangkok Bank's customers deserve world-class e-banking services and we believe that they will get them because of our partnership with Corillian." The agreement is the fourth in Asia for Corillian, already a leading player in the U.S. with a strong track record for providing cutting-edge eFinance solutions to financial service institutions. Corillian's expansion in Asia also demonstrates that successful eFinance solutions developed for the US market can be successfully adapted for other countries. With over 40 financial institutions already licensing the Voyager product in the U.S., the Corillian Voyager platform offers unparalleled levels of scalability for leading banks wanting to enhance their Internet operations internationally. Corillian Voyager -- The Operating System operating system (OS) Software that controls the operation of a computer, directs the input and output of data, keeps track of files, and controls the processing of computer programs. for eFinance(TM) -- is a high-performance platform that allows for the delivery of a wide range of financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. to customers via the Internet. Voyager provides a direct link between a financial institution's host system and its consumers, using Internet browsers See Web browser. , personal financial management software and internet-ready wireless devices. Voyager's open architecture design allows an institution to quickly integrate emerging technologies, deploy the platform in-house or in a secure data center and provide a personalized portal See personal portal. to its customers. "This customer is our first in Thailand and fourth in the South East Asia East Asia A region of Asia coextensive with the Far East. East Asian adj. & n. region, as our Internet banking software has already been chosen by three of the top five Malaysian banks," said Giles Hewson, Corillian's business director for Asia. "We are looking forward to working with Bangkok Bank to implement a secure and scalable Internet banking service which will enable Bangkok Bank to take a dominant share of the online banking market in Thailand. Corillian is targeting South East Asian markets such as Thailand, Malaysia, Singapore, Indonesia and the Philippines which are experiencing rapid liberalization lib·er·al·ize v. lib·er·al·ized, lib·er·al·iz·ing, lib·er·al·iz·es v.tr. To make liberal or more liberal: "Our standards of private conduct have been greatly liberalized . . . and adoption of new technologies. As these markets open up, domestic banks that do not invest in world-class eFinance software may find that international banks are able to attract their best customers away with state-of-the-art Internet banking services." About Bangkok Bank Bangkok Bank is Thailand's largest bank and one of the largest commercial banks in South East Asia, with assets of nearly US$30 billion and a customer base of more than 10 million account holders. It has the largest and most advanced ATM network in Thailand, an extensive branch network of more than 550 branches and an overseas network of 20 branches and two representative offices. The overseas branches are located in 14 countries in Asia, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and London. Bangkok Bank was founded in 1944 and it has built up strong and enduring relationships with all the leading companies in Thailand as well as the small and medium-sized enterprises, which form the backbone of the Thai economy. The President of the Bank is Chartsiri Sophonpanich, a graduate of the Massachusetts Institute of Technology Massachusetts Institute of Technology, at Cambridge; coeducational; chartered 1861, opened 1865 in Boston, moved 1916. It has long been recognized as an outstanding technological institute and its Sloan School of Management has notable programs in business, . Mr Chartsiri was appointed as President in December 1994. About Corillian Based in Oregon, and with international offices in Europe, Asia and Australia, Corillian Corporation is an award-winning provider of eFinance-enabling software for the financial services industry. Built on the Microsoft Windows See Windows. (operating system) Microsoft Windows - Microsoft's proprietary window system and user interface software released in 1985 to run on top of MS-DOS. Widely criticised for being too slow (hence "Windoze", "Microsloth Windows") on the machines available then. 2000 platform, Corillian applications support Internet banking, bill delivery and payment, brokerage, customer relationship management, enhanced data aggregation, and small business transactions. Voyager can be deployed on-site at the financial firm or in the state-of-the-art Corillian Data Center. Corillian technology also enables Open Financial Exchange (OFX OFX Open Financial Exchange OFX Outer Fix OFX Open Effects ) access by finance management software packages such as Quicken A popular financial management program for PCs and Macs from Intuit, Inc., Mountain View, CA (www.intuit.com). It is used to write checks, organize investments and produce a variety of reports for personal finance and small business. (R), QuickBooks(R) and Microsoft(R) Money. For more information about Corillian Corporation, visit our Web site at www.corillian.com. Matters discussed in this release may include forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties, and actual results may be materially different. These matters include Corillian's ability to adapt its solutions for various foreign markets and the demand for Internet-based financial services in Asia. Factors that could cause actual results to differ include the risk that Corillian encounters significant problems or delays in installing its software internationally, that international consumers do not increasingly demand Internet-based financial services and that international financial institutions do not continue to demand Internet banking solutions or are affected by adverse government regulations or market conditions. Other risks include those stated in Corillian's reports and other documents filed from time to time with the Securities and Exchange Commission including its report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended March 31, 2001. www.businesswire.com/ipo/cori.shtml |
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