Government Savings Bank in Thailand Converts to FIS’ Profile Core Banking System
For additional information contact:
Marcia Danzeisen, SVP, Global Marketing and Communications
Phone: 904.854.5083, Email: firstname.lastname@example.org
Mary Waggoner, SVP, Investor Relations, FIS
Phone: 904.854.3282, Email: email@example.com
JACKSONVILLE, Fla., Dec. 3, 2009 - FIS™ (NYSE:FIS), one of the world's largest providers of banking and payments technology, today announced that Government Savings Bank has successfully converted to FIS' Profile advanced core processing solution across more than 600 branches. Headquartered in Bangkok, Thailand, Government Savings Bank (GSB) is a full service financial services company with more than 1,200 self-service devices and assets exceeding $28 billion USD.
This conversion represents one of the world's largest implementations of a next-generation core banking system. Including both front- and back-office functions, the conversion onto a single instance of Profile involved more than 17 million active accounts with 75 million historical records, more than 100 deposit and loan products, and numerous legacy core systems. The project was completed within a 16-month timeframe and with no down time for the bank and its customers.
FIS' Profile is a real-time core banking system that provides exceptional scalability, reliability and business continuity. Profile's integrated architecture allows an institution to house all of its data and deposit and loan accounts within a single, logical system of record. An extensive inventory of configurable components is shared across all product lines to support deposit and loan products. This unique application design ensures operating efficiency while dramatically accelerating the time-to-market of new products and services.
“FIS' presence and knowledge of our region was critical in the deployment of their core banking application,” said Mr. Boonson Jenchaimahakoon, executive vice president and chief information officer at Government Savings Bank. “We relied on FIS to be our technology partner throughout this process and believe the Profile system to be a proven, flexible and extremely reliable solution that will scale to support our projected growth in terms of both customer accounts and physical branches.”
“The GSB project represents one of the largest bank conversions ever executed as a single event, consolidating both front- and back-office applications,” said Frank Sanchez, president of FIS Strategic Solutions Group. “It was critical that the scalability and stability of the system was unassailable. We are very pleased, though not surprised, that this project was completed ahead of its original schedule, and that the bank is already realizing quantifiable benefits. Our Profile application continues to demonstrate the viability and business benefits that accompany a legacy conversion.”
About Government Savings Bank (GSB)
GSB is a juristic person and state enterprise, which operates as a financial institute, guaranteed by the government under the supervision of the Ministry of Finance. GSB is now running 597 branches all over the country and has just celebrated its 96th anniversary on April 1, 2009. For more information about GSB see www.gsb.or.th.
FIS delivers banking and payments technologies to more than 14,000 financial institutions and businesses in over 100 countries worldwide. FIS provides financial institution core processing, and card issuer and transaction processing services, including the NYCE Network. FIS maintains processing and technology relationships with 40 of the top 50 global banks, including nine of the top 10. FIS is a member of Standard and Poor's (S&P) 500 Index and consistently holds a leading ranking in the annual FinTech 100 rankings. Headquartered in Jacksonville, Fla., FIS employs more than 30,000 on a global basis. FIS is listed on the New York Stock Exchange under the “FIS” ticker symbol. For more information about FIS see www.fisglobal.com.
This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions and other risks detailed in the “Statement Regarding Forward-Looking Information,” “Risk Factors” and other sections of the Company's Form 10-K and other filings with the Securities and Exchange Commission.