MICROLINK SECURES MAJOR RM48.6 MILLION CORE BANKING UPGRADE PROJECT FROM CO-OP BANK

Kuala Lumpur – 26 September 2022: Microlink Systems Sdn Bhd, a subsidiary of Microlink Solutions Berhad (Microlink), has received and accepted a Letter of Offer from Koperasi Co-opbank Pertama Malaysia Berhad (CBP) for the upgrade of its existing MiBS core banking platform. The project, with a value of RM48,554,221 [excluding SST], includes key digital transformation initiatives for CBP.

Microlink Group CEO Ramlee Abdullah said, “Microlink has been CBP’s trusted core banking partner and solution provider for more than 20 years. As such, we have in-depth knowledge of CBP’s banking operations and our team is very familiar with their working processes. With the upgrades enshrined in our new core banking system, we will be able to help drive CBP’s banking operations into the digital era. We are delighted to be continuing our long-standing relationship with CBP and embarking on this new phase of digitalisation with them.”

The upgraded IT solution blueprint includes the digital banking enablement of mobile and internet banking, to deliver a new user experience and help expand the CBP customer base. In addition, new capabilities such as Hire-Purchase, financing origination and micro-financing will form part of the enhanced platform. The project is scheduled to be for a duration of 24 months with ongoing maintenance for a further three years.

“Our extensive experience of implementing our core banking solution includes several projects for clients in the Islamic sector. As such, we understand the requirements for Syariah-compliant co-op business and operations. This will help ensure a smooth transition for CBP and minimise any potential disruption to operations during the changeover to the new enhanced system,” added Ramlee.

Koperasi Co-opbank Pertama Malaysia Berhad is a cooperative bank established under the Cooperative Act 1993, initially registered in June 1950 under its original name “The Province Wellesley Co-operative Banking Union Limited”. From its original portfolio of providing credit services to farmers, Co-opbank has since expanded its services to the banking sector, including various financing products for individuals, cooperatives and corporates, as well as various savings and investment products. The Bank operates a network of branches across Malaysia and provides services to both individual and cooperative members.

Microlink’s enhanced core banking solution, known as Ultron, delivers a real-time Omni-Channel experience, enabling customers to perform banking and transactions anytime, anywhere, on any device, achieving the ultimate objective of Digital Banking.

Ultron is an open platform giving clients the flexibility and choices in selecting their preferred system platform and types of application server. This also allows clients to scale and resize infrastructure easily. All modules within the system reside in a single integrated platform, offering standardised and streamlined services to all customers via different channels/products. This eliminates multiple silo-ed systems, and delivers a consistent multi-channel experience across these channels.