Microlink Systems has received and accepted a Letter of Offer from Koperasi Co-opbank Pertama Malaysia Berhad for the upgrade of its existing MiBS core banking platform with an estimated contract value of RM48.5million.
Commenting on the new deal, Group CEO Ramlee Abdullah said, “Microlink has been CBP’s trusted core banking partner and solution provider for more than 20 years. As such, we have in-depth knowledge of CBP’s banking operations and our team is very familiar with their working processes.”
The upgraded IT solution blueprint includes the digital banking enablement of mobile and internet banking, to deliver a new user experience and help expand the CBP customer base. In addition, new capabilities such as Hire-Purchase, financing origination, and micro-financing will form part of the enhanced platform. The project is scheduled to be for a duration of 24 months with ongoing maintenance for a further three years.
“Our extensive experience in implementing our core banking solution includes several projects for clients in the Islamic sector. As such, we understand the requirements for Syariah-compliant co-op business and operations. This will help ensure a smooth transition for CBP and minimise any potential disruption to operations during the changeover to the new enhanced system,” added Ramlee.
Koperasi Co-opbank Pertama Malaysia Berhad is a cooperative bank established under the Cooperative Act 1993, from its original portfolio of providing credit services to farmers, Co-opbank has since expanded its services to the banking sector, including various financing products for individuals, cooperatives, and corporates, as well as various savings and investment products. The Bank operates a network of branches across Malaysia and provides services to both individual and cooperative members.
Microlink’s enhanced core banking solution, known as Ultron, delivers a real-time Omni-Channel experience, enabling customers to perform banking and transactions anytime, anywhere, on any device, achieving the ultimate objective of Digital Banking.
