SLM SOFTWARE ENABLES BANK OF CHINA TO GO ON-LINE ACROSS PROVINCES
Successful pilot for electronic inter-branch access
signifies birth of China's first standardized electronic banking network
TSE Symbol: ESP
TORONTO, April 1 /CNW/ - SLM Software Inc., a leading global provider of
electronic transaction management solutions, announced during this week's
China Mission officiated by the Hon. Sergio Marchi, Canada's Minister for
International Trade, that it had successfully completed its pilot with the
Bank of China, the world's 15th largest bank. The pilot established on-line
inter-branch access between all the Bank's branches in Guangzhou, Shanghai,
Beijing, Tianjin and Qingdao. SLM also intends to set up a Beijing office to
provide full on-the-ground support. For the first time in the Bank's history,
customers can access their accounts and conduct transactions from any branch
or automated teller machine in these regions. The same freedom was extended to
foreigners, who can now make credit and debit transactions at any of these
branches via access to international networks including CIRRUS and PLUS.
The Bank of China wanted to leapfrog into 21st Century technology to
deliver broad-ranging services to meet and maximize customer relations, but
also to maintain its leadership position on the world stage. The new system
had to demonstrate high performance, high capacity capabilities to support the
Bank's 32,000 branches, 200 million daily transactions and a targeted 250
million cardholders. A state-of-the-art electronic banking solution to
modernize their existing system, interface with multiple platforms and
inconsistent hardware in each city, allow easier communication between
branches, and accommodate future requirements represented a tall order. The
solution was SLM.
''SLM's ESP-Link(TM)/Financial Transaction Solution gives the Bank's
customers the freedom to access their accounts from every branch in these five
cities as well as centralizing the management of all transaction processes at
its Beijing headquarters for greater stability, efficiency and speed. The
enhanced flexibility of SLM's product enables the Bank to quickly add new
functionality now or down the road -- a system that will grow with them. And
the scalability of the system can allow the Bank of China to easily
standardize its on-line banking countrywide. SLM has already replicated this
solution in 12 more regions and is preparing to go live in the next few
months,'' said Mr. Govin Misir, Chairman and CEO, SLM Software Inc.
''SLM's open systems platform and modular design were key factors to
delivering the high performance, flexibility and reliability to meet the Bank
of China's complex needs today and in the future. We are delighted with the
success to date, and are working closely with the Bank to roll out SLM's
centralized solution across the entire country. To support this tremendous
growth, we are establishing a full sales and support office in Beijing to
ensure the highest quality customer service,'' said Mr. David Wang, Beijing
General Manager of SLM Software Inc. ''We are delighted with our partnership
with the Bank of China, and look forward to a long-standing and mutually
rewarding relationship.''
About SLM Software Inc.
Founded in 1986, Toronto-based SLM Software took an early lead in the
electronic financial revolution. Its open systems technology set the standard
for on-line transaction management, enabling true hardware, database and
protocol independence. SLM was the first to offer the financial services and
health care markets the compatibility, flexibility and upward scalability
necessary for global electronic service delivery. SLM's state-of-the-art
ESP-Link(TM) product solutions help organizations maintain their competitive
advantage in 35 countries on four continents, powering end-to-end electronic
commerce solutions from credit and debit cards, smart cards, ATMs,
point-of-sale terminals, Internet, telephone and PC banking systems to
integrated, on-line medical insurance claims processing.
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For further information: Nancy Chan-Palmateer, Director, Communications,
SLM Software Inc., Toronto, CANADA, tel: (416) 767-8884 x2523, Web site:
www.slmsoft.com |
