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Thai bank BAAC adopts FIS core banking technology

Thai Bank for Agriculture and Agricultural Co-operatives (BAAC) has completed the migration of its 29 million accounts onto FIS’ Profile core banking system from its legacy platform.

Adoption of the real-time core platform will enhance its operational efficiency, strengthen its product set and assist in improving the quality of services offered to its accountholders.

Apart from significantly reducing back-office costs, the new technology will offer long-term investment protection and lifetime total-cost-of-ownership benefits.

BAAC president Luck Wajananawat said that the bank needs a scalable technology to launch new products and services without spending more time, in the wake of rapidly growing customer base.

In order to allow banks to remain customer-centric and launch customized products and services, the new FIS’ Profile has modern product design capabilities that incorporate business rules quickly.

Founded in 1947, BAAC has more than $37bn in assets and manages over 35 million accounts and a branch network of 1,104 offices in the country.