CB Bank completed upgrading Core Banking System: Modernizing financial services.

CB Bank is one of Myanmar’s oldest and largest commercial banks, continues leading to modernize its banking operations by upgrading to the latest versions for Oracle Database Enterprise Edition and Temenos Core Banking. CB Bank has been able to rapidly scale its business to deliver new services to market and greater customer satisfaction.

With upgraded core banking system, allow processing of hundreds of thousands of transactions a day and completing its end-of-day processing cycles under 90 minutes. CB Bank has consistently showcased a steadfast commitment to innovation, technological progress, and customer satisfaction. As we still remember, in The Temenos Regional Forum 2023, held on 23 and 24 August in Hanoi, CB Bank was honored with the Temenos Core Transformation Award, recognizing its decade-long dedication to innovation.

Launched at the end of 2022, after more than 1 year of implementation, on January 14, 2024 CB Bank’s new Core Banking system upgrade project was officially completed.

This is an extremely important step for CB Bank in the digital banking trend with the goal of bringing better products and services to customers. Through the upgraded Core Banking system, CB Bank can provide more products, services and utilities, and manage internal operating processes strictly and effectively, meeting increasing requirements from customers.

With the newly upgraded core banking system, business processes will be automated, screen operations will be shortened, helping tellers to quickly process transactions and shorten waiting times. customer expectations; Risk prevention activities and information security for customers have also been enhanced;

The Core Banking system is considered the central nucleus of all information and banking activities. The system processes data of all transactions in business subsystems and updates all transaction information to the database. In addition, Core Banking is also integrated with other systems and payment channels of the bank such as Core card, ATM, SWIFT, Internet Banking, Mobile Banking…

In recent years, the race for digital transformation has been extremely exciting, especially in the banking sector. Most banks are accelerating transformation to both improve service quality, attract customers, and optimize operational processes and promote growth.

Not out of that trend, CB Bank quickly implemented the core banking upgrading project. In just a short time, CB Bank has successfully upgraded the Core Banking system it is using to the most advanced new version today – Temenos R22 with the latest database version 19c.

In the coming time, CB Bank will continue to expand business activities, strengthen cooperation with strategic partners to exploit optimally and effectively on the newly upgraded system platform; Building an ecosystem with e-commerce partners to add value in “one-touch” service and meet all customer needs.

Now is the time for us to review some milestones in this series of core banking system upgrade activities:

* The first jobs will start from November 28, 2022.

* Go live process starts from 9:45 pm January 12 to 2:50 pm January 14, 2024

* The first daily COB with upgraded Core banking system on January 14, 2024,

* The firsh monthy COB with upgraded Core banking system on Feburary 01, 2024.

* By January 21, 2024, all standby databases be configured.

* By January 28, 2024, all UAT databases be deployed.

A series of images of AT&A Team participating in upgrading the Core banking system.