BANGKOK, Thailand--24 Dec--Bernama-AsiaNet/ InfoQuest
Speaking to customers and partners, Sopra Banking Software, a new global leader in core banking software and services, outlined the reasons for growth in Thailand for the banking sector.
Sopra Banking Software's Managing Director, Asia, Anselm De Souza, said several factors including the rise of the middle class, the empowered rural population and ubiquitous mobile communications technology are pushing banks in Thailand to re-look at growth strategies and infrastructure.
The company seized the opportunity to announce its formation as Sopra Banking Software out of Sopra Group’s bank software division (Evolan), Delta Informatique and Callata? & Wouters, three leaders in their respective markets.
"Currently, the banking sector has plenty of challenges. Customers switch between banks easily, and expect to have bank access through a variety of channels. We believe Sopra Banking Software offers software solutions and services that help banks tackle these challenges. Our solutions help with new regulation, manage risk and IT effectively, as well as vastly improve customer profiling. This will create innovations that meet customers’ demands," said Diederik Van der Linden, Head, Global Sales, Sopra Banking Software.
"Thailand's steady growth had resulted in the increase on demands on the banks. Customers look for variety of services including mobile banking, internet based services and wealth management products. Thailand banks are looking to address these needs," explained De Souza.
Faced with such demands and empowered customers, banks in Thailand are straining to keep up. Their legacy systems, approach and current infrastructure especially in rural areas are eroding the business potential for Thailand banks.
A significant challenge within rural population remains, large and mostly mobile customer base which is demanding a variety of services - mobile services, micro loans/credits and mobile remittance. Banks are not adequately prepared to address this market segment, and would have to make changes before they risk losing customers to the competition. Sopra Banking Software is confident that the market is right for increased engagement and activity.
"Banks in Thailand are reviewing IT infrastructure to deal with changes. But a general industry culture, encumbered by traditional banking practices, legacy technology and lack of automation is still hampering growth," suggests Van der Linden.
For more information, please visit our website www.soprabanking.com.
SOURCE: Sopra Banking Software
Press relations Sopra Banking Software:
Name : Shivani Priyadarshini
Tel : +65 6236 0568
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Name : Kunalan
Tel : +65 338 1006
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