Technical Collaboration Agreement between CB Bank and Cisco
Industry: Technology
Digital Transformation of Myanmar Financial Service Sector
Yangon, Myanmar (PRUnderground) October 2nd, 2017
Technical Collaboration Agreement between CB Bank and Cisco
Yangon, Myanmar, 26th September, 2017 – Myanmar’s Financial Services Industry is going through a period of rapid transformation. As the customer base expands and connectivity improves at a breakneck pace, there are high expectations to deliver international standard products and services, such as, credit cards, mobile banking and international banking services. At the same time, there are increasing cyber security threats that threaten the financial institutions’ technical infrastructure. Therefore, it becomes more important than ever to build a solid infrastructure to deliver secure services with high availability.
CB Bank and Cisco are pleased to enter a technical collaboration agreement to transform the Data Center and Core Network Infrastructure to enable core banking application, digital banking and international services to be delivered to its customers and partners in a secure manner. At the same time, CB bank is implementing active-active Data Center architecture to ensure that the services will have high availability.
To maintain the highest levels of standard for the design and implementation for this project, CB Bank has engaged Cisco Advanced Services team which brings world-class expertise and experience to ensure that the solution is future-proof and the project will be implemented in a timely, quality-assured fashion. Cisco Advanced Services team is working with local partner NEX4 ICT Solutions for the implementation of this project.
“CB bank has been expanding its services, quality and coverage by introducing many digital transformations. Digital banking is an effective way to provide access to majority of the people in the whole country, not only with Branches and ATMs, but also with new and innovative channels like Agents, Mobile Banking and Internet Banking.” said Aung Thurein, Managing Director, NEX4. “Today’s digitally connected world, NEX4 believes it is essential for organizations to align every part of their strategy in order to become industry leaders. We are dedicated to help our clients dealing with this challenge and overcome the many obstacles they may face when connecting with new technologies.”
About CB BANK
CO-OPERATIVE BANK LTD (CB Bank Ltd), established in 1992, is one of Myanmar’s largest private banks with over 197 branches nationwide. Since its establishing, CB Bank has been leading in innovation as well as an early adopter of latest technology. Through the deeply rooted heritage of challenging spirits, CB Bank always tries to be ahead of the pack by becoming the “first” in many banking products and services such as first bank to offer mobile banking, agent banking in 2014, cash deposit machine in 2016, contactless payment and currency exchange machine in 2017. Being a leader in technological innovation, CB Bank is a natural choice for companies and personnel that require traditional and technology-based financial services in Myanmar.
As Myanmar’s economy expands and opens up, CB Bank sees exciting opportunity to work with further international investors, providing a critical bridge to Myanmar’s fast-growing cities, small medium enterprises, entrepreneurs and local communities.
About Cisco Systems
Cisco Systems, Inc. designs, manufactures and sells Internet Protocol based networking products and services related to the communications and information technology industry. The company product offerings comprises of the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email and Web Security. The firm operates through the following geographical segments: Americas, Europe, Middle East, Africa, Asia Pacific, Japan, and China. The company was founded by Sandra Lerner and Leonard Bosack on December 10, 1984 and is headquartered in San Jose, CA.
About NEX4
Since the inception in 2013, NEX4 ICT Solutions has prided on being agile and tailor its projects to enhance the operational efficiency of its clients through its various services. NEX4 team is built upon high expertise and is driven by strategic thinking and innovative ideas to build the bridge between business ambitions and IT infrastructure. NEX4 work closely with industry leading vendors to deliver cutting edge services. NEX4 provides consulting and implementation of hybrid cloud, enterprise network and infrastructure, security, IP telephony, big data, data centers solutions and managed services.
About NEX4
NEX4 ICT Solutions
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