Venkatramana Gosavi, Senior VP & Global Head of Sales, Infosys Finacle

Myanmar-based commercial bank Global Treasure Bank (GTB) has successfully implemented Infosys Finacle’s Core Banking Solution in order to fuel its retail and corporate operations across the country, enhance customer experience and, expand its product portfolio.

U KoKo Aung, CEO, Global Treasure Bank, said, “For over two decades, GTB has stayed true to our mission of comprehensive economic development of Myanmar through reliable, inclusive and convenient banking services. Today, to continue to abide by this commitment in an increasingly complex regulatory and competitive environment, we felt the need for a modern platform to power our banking strategy. We believe our investment in Finacle’s industry-leading platform, will help deepen our customer relationships through scalable, innovative and contextual banking experience.”

According to the supplier, the implementation has enabled the bank to onboard new customers and open new accounts. The solution is expected to provide a 360-degree view of the bank’s customer relationships and transactions thus facilitating the enrichment of their customer service and enhancing upsell and cross-sell opportunities. The solution aims to simplify business process orchestration through built-in workflow engines.

Venkatramana Gosavi, Senior Vice President & Global Head of Sales, Infosys Finacle, said, “With Finacle, GTB has gained a strong foundation to boost agility and efficiency of operations, and significantly improve customer experience across channels. We are pleased to expand our presence in Myanmar to become the preferred banking solution provider and leverage our rich experience across 100 countries, to support the Myanmar banking industry’s modernization journey.”

An integral role in the solution’s implementation process has been played by ACE Data Systems, Finacle’s business partner in Myanmar, which helped ensure the timeliness of the implementation.

Recently, Finacle’s Trade Connect solution was selected by Sri Lanka-based Hatton National Bank to enable a blockchain based domestic and cross border trade finance network.

Founded in 1996, GTB provides savings, loans, overdraft and deposit services along with a range of integrated cash management and trade services, such as foreign currency accounts, telegraphic transfer, letter of credit, and credit facility to clients through its SWIFT network.

by Megha Bhattacharya
Market Analyst at IBS Intelligence