EON Bank Group Adopts Aggressive Technology Growth Initiative
July 25, 2008
EON Bank Group (EON) is on a mission to transform its business by adopting an aggressive technology growth through a partnership with SAS Malaysia. As the global economy moves toward technology advancements, a company’s ability to compete rests greatly on their technology offerings.
EON Bank Group Chief Executive Officer, Albert Lau Yiong spoke at a signing ceremony with SAS Malaysia, saying, "In today's fast evolving business environment, companies that wish to progress ahead of others, must have a competitive edge."
The bank group has established specific strategic priorities that include achieving sustainable and profitable growth by building scale in conventional and Islamic Banking businesses.
To support its strategic initiatives, the bank group recently launched “Project Quantum Leap” where strategic elements including building the required infrastructure was formulated and projects with the biggest impact on revenue growth were prioritized.
Those business initiatives that are currently being implemented range from initiatives that are linked directly to the improvement of various businesses, as well as plans to improve the underlying organizational structure, systems and processes.
EON plans to invest roughly RM25million over a period of five years to achieve its “Project Quantum Leap”. Much of this investment will be in integrated banking intelligence solutions from SAS Malaysia which strives to improve the structure, control and consistency of its data landscape and organization.
Such improvements are expected to enable better performance management, efficient and accurate reporting and to support the initiatives of the various business units.
Tailored to meet the unique needs of the banking industry, the holistic Banking Intelligence Solutions from SAS will be used to improve customer relationship management, business performance management, risk management, compliance and systems performance.
An enterprise-wide business scorecard with banking-specific key performance indicators (KPIs) will also be used to provide a single, strategic view of an enterprise to help to drive the banking strategies forward.
"The enterprise wide implementation in EON Bank Group will mark a new era in the bank's pursuit to reinvent banking for its customers," said Jimmy Cheah, Managing Director of SAS Malaysia, in a Friday statement.
"Equipped with the power to know and supported by the right people, EON Bank Group will be able to transform its operations to be more efficient, customer-focused and achieve its aim to be a relationship driven financial institution."
The banking industry is one in which the demand for technology solutions continue to grow, both internally and externally. To ensure sustainable growth and deliver the services that customers demand, the EON Group must continue to take a proactive approach to implementing innovative solutions.
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