LG CNS Expands Digital Banking Solutions to Southeast Asia

In a significant move, LG CNS is set to export its advanced Korean-style digital banking system to the financial sectors of Southeast Asia, with Indonesia being a key market. This initiative is part of the company's strategy to deepen its footprint in neighboring countries, leveraging this recent business acquisition as a pivotal step forward.

Strategic Partnership and Project Details

LG CNS has announced the securing of a contract to implement a next-generation card system for Bank Sinarmas, a prominent commercial bank in Indonesia. This project, spanning a total of six years—one for system construction and five for maintenance—marks LG CNS's first financial sector contract since forming a joint venture with the Sinarmas Group.

Innovative Solution to Streamline Operations

Bank Sinarmas currently faces operational and management challenges due to its separate systems for debit and credit cards, leading to high maintenance costs. LG CNS plans to utilize its proprietary solution, CardPerfect, to merge these systems into a unified next-generation platform, aiming to enhance efficiency and reduce expenses.

Future Expansion Plans

With this project, LG CNS aims to extend its innovative solutions to other Southeast Asian nations, including Vietnam and Cambodia. The company's official highlighted the significance of this venture, emphasizing the recognition of their self-developed solutions and the commitment to delivering unparalleled value to global financial clients.