Atos Launches Banking as a Service Solution in Myanmar to Strengthen Financial Sector

SINGAPORE, Oct. 20, 2015 /PRNewswire/ — Atos, an international leader in digital services and the number two European IT Services partner for the Financial Service industry announced its expansion into Myanmar at the Partnership agreement signing ceremony with Myanmar Millennium Group (MMG) in Yangon, Myanmar on 17 October 2015.

The agreement between Atos and MMG will facilitate the introduction and deployment of Atos Banking as a Service solution to accelerate future expansion of the banks and financial institutions and the services to support the anticipated growth in Myanmar.

Atos BaaS is a state-of-the-art banking platform that manages and supports the full spectrum of banking operations, from current and savings accounts, deposits, to credits, loans and collections. It also supports such key services as sweeps, standing instructions, direct debits and credits and international payments. The solution reflects industry best practices, guarantees compliance for current and future regulatory requirements and ensures complete security and confidentiality at all times.

Leveraging MMG’s local capabilities, Atos will offer banks in Myanmar a proven turnkey solution to supplement their core platforms that includes consulting and design services, applications transformation, rationalization and migration, testing and acceptance management, comprehensive security and access management services, smart mobility and contextual services and IT outsourcing, data management and applications management. These solutions are modular and standards-based, and therefore, they can be customized to fit the bank’s specific growth needs as well as its existing infrastructure and application platforms without the need for upfront capital investment or the disruption of a costly re-engineering project. Through this collaboration, Atos and MMG aim to contribute to the modernization and long-term development of both the financial sector and the economy of Myanmar.

Min Zeyar, Founder & Chairman, MMG said, “This cooperation marks a new era for Banking in Myanmar. Atos BaaS is the ‘bank in the cloud‘ that will revolutionize the banking sector here and drive real performance breakthroughs. It provides unprecedented opportunity to gain new levels of agility, meet market-driven transformation opportunities to improve commercial performance and cost efficiency. As a partner, we share Atos’ vision in Myanmar and will ensure that our customers have access to expert teams on-site, bringing the right language, culture and legal understanding to provide effective support.”

Herbert Leung, CEO of Atos in Asia Pacific said, “We have no doubt about the relevance and importance of BaaS to drive new growth opportunity in Myanmar. Through rapid and targeted service development, local banks will be able to re-fresh their legacy IT platforms and participate in market, segment and product innovations to level the playing field vis-a-vis the global players. He added, “Atos has the in-depth experience as well as the critical mass of resources to transform the financial and banking landscape of Myanmar, like we have done so for similar clients around the world. We look forward to an illustrious relationship with the Millennium Group Technologies to facilitate local client growth and help build their firms of the future.”