Bank of Taiwan Selects SunGard's Core Banking Solution.Largest Bank in Taiwan Aims to Streamline Operations with System Access SYMBOLS TAIPEI CITY, Taiwan -- SunGard (http://www.sungard.com) today announced that Bank of Taiwan
The Bank of Taiwan (BOT, Traditional Chinese: 臺灣銀行; Pinyin: (BOT), the largest bank in Taiwan with assets in excess of US$80 Billion and a domestic network of nearly 170 branches, has selected SunGard's System Access SYMBOLS (http://www.sungard.com/systemaccess) to help streamline its offshore banking operations. SunGard's System Access SYMBOLS will be accessed from BOT's seven offshore branches located in Tokyo, Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , Singapore, London, 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 , Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , and Johannesburg. BOT was looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. a solution that could centralize cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. its offshore banking business units' operations in order to help avoid silo operations. System Access SYMBOLS is a customer-centric universal banking solution with a common enterprise foundation and customer information file which helps BOT achieve a 360-degree view of its customers across products and applications. Integration with BOT's existing systems through System Access SYMBOLS' enterprise data warehouse will also help BOT better understand its offshore customers and offer products suited for their needs. Secure online access through the Internet of System Access SYMBOLS' core banking functions will assist BOT to provide straight-through transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. for its offshore branches. System Access SYMBOLS will provide integrated Internet banking to help BOT extend its reach and serve its customers worldwide. Edwin S.S. Song, senior vice-president and general manager, IT department, Bank of Taiwan, said, "System Access SYMBOLS will help us see a complete picture of the profitability of our offshore banking businesses. Its centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. data and straight-through processing straight-through processing The direct exchange of cash and securities. Straight-through processing is a major objective for cross-border transactions that are generally much more costly to settle compared to domestic transactions. capability will improve the efficiency of our operations as multi-site transactions are processed real-time across geographies. With System Access SYMBOLS acting as a central hub, timely information can be acquired and analyzed more easily for our risk management and other MIS consolidations." "We are pleased that our entry in Taiwan is marked by the acceptance of our solution by Taiwan's largest bank," said Leslie Loh, president of SunGard's System Access business unit. "We have a long and diverse history of successful implementations at very big banks across Asia, Europe, Middle East, and Africa. Bank of Taiwan will benefit from our experience working within multi-cultural, multi-language, and agile project teams as we squarely face the challenges ahead." About Bank of Taiwan Bank of Taiwan (BOT) was first established on May 20, 1946 and has now been operating for 61 years. Its headquarters is located in Taipei City, while its branch organizations are located throughout Taiwan and in major international financial centers. Just recently, it merged with the Central Trust of China in an "epoch-making" deal. BOT is currently ranked 124th in The Bankers Top 1000 banks worldwide. About SunGard's System Access SunGard's System Access provides universal banking solutions that help banks deliver a broad range of banking products and services for retail and wholesale banking. System Access provides solutions for back-office transaction processing, front-office multi-channel delivery, card management and payments. System Access solutions provide straight-through transaction processing, centralized common services, work-flow driven business process and an enterprise-wide customer information repository An information repository is an easy to deploy secondary tier of data storage that can comprise multiple, networked data storage technologies running on diverse operating systems, where data that no longer needs to be in primary storage is protected, classified according to captured . View SunGard's System Access solutions at www.sungard.com/systemaccess. About SunGard With annual revenue exceeding $4 billion, SunGard is a global leader in software and processing solutions for 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. , higher education higher education Study beyond the level of secondary education. Institutions of higher education include not only colleges and universities but also professional schools in such fields as law, theology, medicine, business, music, and art. and the public sector. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 25,000 customers in more than 50 countries, including the world's 50 largest financial services companies. Visit SunGard at www.sungard.com. Trademark Information: SunGard, the SunGard logo, System Access and SYMBOLS are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders. |
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