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CB Bank Myanmar implements T24

By Scott Thompson

CB Bank (Co-operative Bank) Myanmar has gone live with Temenos T24. The bank chose the solution due to the need to operate in accordance with accepted international banking practices and to support fast and profitable growth.

CB Bank is one of the leading retail banks in Myanmar with 45 branches and 35 money exchange across the country. Currently it delivers deposit and credit products to the retail market, as well as limited foreign currency transfers and export/import trade banking. It also offers the first ever eStatement service in Myanmar using T24. The bank will soon launch trade finance on the platform and also plans to roll-out internet banking and mobile banking facilities to its customers within the year.

Kyaw Lynn, executive vice chairman and CEO, CB Bank, comments: “We chose to partner with Temenos due to the superiority of T24 and the strength of its reputation. In choosing T24, we now have the platform and the support to fulfil our objective of rapidly growing our business. The speed and efficiency with which T24 was implemented is testament to Temenos’ model bank processes, allowing us to maximise time to value and to capitalise on our first mover advantage.”

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