EON Bank Group chief executive officer Albert Lau Yiong says that the RM20 million (US$5.5 million) investment was to upgrade the group's core banking applications and disaster recovery site.

"We are proud to be the first financial institution in Malaysia to acquire this new system, which will improve business responsiveness and customer service efficiency," says Yiong. "EON Bank Group is emphasising customer satisfaction through the introduction and implementation of various initiatives in the past year as part of its 'Project Quantum Leap', where strategic initiatives including improving the bank's underlying organisation structure and systems and processes were formulated."

EON Bank, which provides a full range of financial products and services, is a licensed banking and finance company operating under the regulations of Bank Negara Malaysia under the provisions of the Banking and Financial Institutions Act 1989.

Improvement of performance

"In order to serve our customers better, it is critical that we continuously improve our performance and service level," said Yiong. "We have tested the IBM Power 550 Express and found it to be stable, scalable and flexible, which are the three necessary criteria to support EON Bank Group's projected business growth in the next 5 years."