Local financial software provider, System Access, today achieved a significant milestone in the local Infocomm scene by becoming the first Singaporean company to lead a group of other home grown financial services ...
Singapore, 8 March 2004 | For Immediate Release
Local Companies to Cluster to Offer Complete Financial Solutions to Markets in Europe, Middle East and Africa
Local financial software provider, System Access, today achieved a significant milestone in the local Infocomm scene by becoming the first Singaporean company to lead a group of other home grown financial services companies, to break into the European, Middle East and African markets.
This milestone, made possible by System Access' partnership with the Infocomm Development Authority of Singapore's (IDA) Overseas Development Programme (ODP), will for a start, put five local companies on the path towards generating more than S$20 million in export revenue over the next 2 years.
These five home grown companies are BCS Information Systems (Clearing and Payment Solutions), Fairex (Forex Trading Solution), Comex (Credit Card processing systems), FOCUs5.NET (CRM for Sales, Marketing & Channels), with System Access (Universal Banking Solution) taking the lead.
"IDA's Overseas Development Programme brings together a 'leader', typically an MNC, and local companies to enter overseas markets. Today, we have our very own home-grown company, System Access, taking the lead to bring other local companies overseas. This reflects the coming-of-age of our local infocomm players. They can better compete globally by working together to offer complete solutions." said Mrs. Tan Ching Yee, Chief Executive Officer, IDA.
"With the help of IDA, we managed to bring together all these solutions and go to market as a complete solution. We are glad to share our success in the international market with our cluster partners. It brings a lot of synergy and value to the customers as well as for our partners" said Leslie Loh, Chairman and CEO, System Access.
System Access has achieved global success in the internationalization of its flagship banking software product - Symbols. With 8 regional support offices and customer installations in more than 20 countries across Asia, Middle East, Europe and Africa, the cluster partners will be able to leverage on System Access' existing customers base, global sales force and international distribution channels. The solution clusters will together deliver a best in class end-to-end solution to the financial services community.
JOINTLY ISSUED BY SYSTEM ACCESS AND
THE INFOCOMM DEVELOPMENT AUTHORITY OF SINGAPORE
About System Access
Established in 1983, System Access is a leading global financial software provider of customer-centric universal banking solutions with customers in over 20 countries across Asia Pacific, Europe, the Middle East and Africa. Headquartered in Singapore and System Access has regional offices across Geneva, London, Bratislava, Prague, Dubai, Manila and Bangkok. Further information about System Access is available at www.systemaccess.com.
About the Infocomm Development Authority of Singapore
The Infocomm Development Authority of Singapore (IDA) develops, promotes and regulates info-communications in Singapore, with the aim of establishing Singapore as one of the world's premier infocomm capitals. To nurture an internationally competitive infocomm industry, IDA offers a comprehensive range of programmes and schemes for both local and international companies. For more information, visit https://www.imda.gov.sg/.
For media clarification, please contact:
System Access PR Contact:
DID : +65-6335-3610
Email : firstname.lastname@example.org
IDA Singapore PR Contact :
Ho Hwei Ling
DID : +65-6211-1996
Email : email@example.com
Annex 1 of 3
About the Partners
BCS Information Systems (BCSIS) is a technology driven company comprising industry professionals and innovators. For over two decades, we have developed and successfully implemented clearing and payment systems. Since our inception in 1988, we have undertaken numerous projects on a nationwide basis for several countries. Our teams of highly specialised and motivated professionals are able to provide excellent technical, operational and project management expertise in the development, set-up and management of clearing and payment systems. BCSIS is able to deliver and complete mission critical projects on time and within budget based on our experience in handling national projects involving many financial institutions and authorities, including the Central Bank. We have a proven track record of serving many satisfied customers in Brazil, Bahrain, China, Hong Kong SAR, Indonesia, Malaysia, Singapore, Thailand and Taiwan.
As a focused and prominent market player, BCSIS is especially sensitive to the ever-changing demands of the clearing and payments industry. Our solutions continuously evolve to be ahead of changes. Always striving to meet your needs, we have achieved many "firsts" in the industry:
- Implemented the world's first nation-wide and end-to-end Electronic Clearing System for the electronic presentment of cheque information in Singapore in 1992.
- Delivered Asia's first Real-Time Linked Delivery versus Payment (DVP) & Real Time Gross Settlement System together with the Hong Kong Monetary Authority and Hongkong Bank in the HongKong SAR in 1996.
- Introduced Image-Based Cheque Clearing Systems to the major national Clearing Houses in South East Asia since 1997.
- Implemented Inter-bank Bulk Payment System using web-based technology on a nationwide basis in Singapore in 2001.
- Implemented the world's first nation-wide Cheque Truncation System for the electronic presentment of cheque information and images in all clearing legs.
About FairEx International Financial Systems
FairEx produces high quality, cutting edge web-based financial systems solutions for the banking and financial industries and is the pioneer and market leader in FX (foreign exchange) auto dealing system technologies and white-label solutions. We are a specialist technology innovator in the field of web-based foreign exchange (FX) transactional platforms. Our proven technology and revolutionary business model has permanently changed the way foreign exchange transactions are executed.
FairEx is an award winner under the category of "Best Auto Dealing Technology" from FX-Week in years 2001, 2002 and 2003. FX-Week is one of the most authoritative global journals in FX publications. In April 2002, FairEx also won the "Most Innovative Infocomm Product and Service" award in the most prestigious inaugural National Infocomm Awards 2001/2002 organized by the Infocomm Development Authority of Singapore (IDA).
FairEx has established partnerships with global, regional and locals banks to deliver our products and services to a wide base of clientele. Our systems have successfully gone live with a large number of customers in Asia, a solid testimony to our technology and commercial success. Please visit www.fairex.com for information.
Mr Teo Hiang Long
Tel: 65-6222-3363 (Gen)
Fax: 65-6221-3363 (Fax)
Commerce Exchange (Comex) is Asia's leading Commerce Value Chain solution provider. Comex has 2 divisions that provide integrated solutions for banks, enterprises and logistics service providers.
Comex financial solutions helps banks and enterprises increase profitability, gain greater visibility and improve efficiency with integrated digital business solution for trade enablement, and financial settlement.
Located in Singapore, the company also has offices in Malaysia, China, Taiwan and Japan. Comex brings to customers the experience of more than 150 implementations in over 30 countries. In addition, Comex investors include Baring Private Equity Partners, Citibank, Infocomm Investments Pte Ltd, JAFCO Investment (Asia Pacific) Limited, JAIC Asia Capital Pte Ltd, United Overseas Bank Group, Visa International, Venture TDF Pte Ltd.
PR Contact :
Tel: 65 6734 5575
Fax: 65 6734 5002
FOCUs5, an international solution provider of CRM applications, has offices in Singapore, China, Thailand and Australia. FOCUs5 has 9 years of experience in developing technologies that help customers automate its operations through a cost-effective methodology.
FOCUs5 has developed a full range of value-added CRM operational and analytical solutions that help to automate the Sales, Marketing and Channels divisions of an organisation.
PROFITS!TM Suite of Solutions includes:
- PROFITS!TM for Financial Services
- PROFITS!TM for Telecommunications
- PROFITS!TM for Distributive Trade
- PROFITS!TM for Manufacturing
- PROFITS!TM for Consumer Goods
- PROFITS!TM for Services
- PROFITS!TM Mobile
Annex 2 of 3
Quote Sheet from Local Companies
"Comex is pleased to participate in the Overseas Development Programme (ODP). The synergy realized among the cluster members, through cross-selling among members' products, being able to present a total and integrated solution for banks, tapping on the leadership and experience of System Access the cluster leader and the infrastructure of the IDA, would help the cluster members to more effectively penetrate the global market."
Michael Yap, CEO, Commerce Exchange Pte Ltd
"FairEx has decided to join the Overseas Development Programme (ODP) because this is an initiative that will better position and prepare FairEx as we expand in various key geographical areas where we currently do not have presence, eg Europe, US and the Middle East. By partnering with the leader and the other cluster members that boasts not only complimentary solutions and technologies but experience, FairEx is privileged to be included in this inaugural cluster programme that is spearheaded by IDA and System Access."
Dr Loh Wing Wah, CEO FairEx International Financial Systems Pte Ltd
"FOCUs5 is confident that the IDA-System Access Overseas Development Programme (ODP) initiative will enable local enterprise like us to be globally competitive. By partnering with System Access, FOCUs5 aims to tap on System Access R&D resources, corporate networks, multiple channels in different countries and regional/global programmes for our PROFITS!!TM CRM suite of solutions catered for the Financial Services Industry (FSI). Under IDA-System Access ODP Partnership engagement model, FOCUs5 can accelerate our presence in markets like EMEA, Asia Pacific and USA, expanding our customer base and establishing strategic alliances."
Rosalind Foo, CEO & President, FOCUs5.NET Pte Ltd
"There are good reasons for BCSIS' participation in the Overseas Development Programme (ODP). Firstly, we believe that the ODP initiated by Infocomm Development Authority of Singapore to group complementary local software products for the Financial Services Industry has provided a synergistic approach for the local enterprises to grow their business globally, leveraging on each other's strengths and presence. Secondly, the ODP will provide BCSIS an additional avenue to expand our market reach beyond Asia, by leveraging on the customer base that System Access has already established in the EMEA region."
Sam Tan, Head of Product Business Cluster, BCS Information Systems Private Limited
Annex 3 of 3
Factsheet on the Overseas Development Programme
The Overseas Development Programme (ODP) is a key platform to forge win-win partnerships between Singapore Infocomm Local Enterprises (iLEs) and leading Singapore Companies, to:
- Prepare iLEs to be globally competitive, and to compete globally.
- Boost iLEs' capabilities to increase their presence in growing markets outside Singapore.
- Further enhance iLEs' overseas market position through direct access to leading Singapore Companies' R&D resources, and global business opportunities and networks in their own countries.
Why Overseas Development Programme?
- New impetus to leapfrog local partners' "go-to-market" capabilities. Many Infocomm Local Enterprises have matured over the years and have successfully developed software products and services for the market within and beyond Singapore. The ODP will be the impetus to "rapidly push" the iLEs towards globalisation.
- Capability Enhancement. Emphasising on building capabilities, the ODP is a partnership-driven programme that will leverage on the strengths, business connections and technology edge of Singapore Companies to help iLEs gain a head start in new markets overseas.
ODP Partnership Models
- Technology Partnership. Focus on product development, commercialisation, and overseas market access.
- Services Partnership. Focus on overseas solutions deployment, and overseas market access.