Far Eastern International Bank Chooses Secure Unisys ClearPath Forward™ Environment to Provide Disaster Recovery for its Core Banking System
Taiwan-based institution continues commitment to Unisys ClearPath Forward systems for a reliable, secure and scalable environment supporting critical applications and move to digital banking
BLUE BELL, Pa., April 19, 2017 – Unisys Corporation (NYSE: UIS) today announced that Far Eastern International Bank (FEIB) of Taiwan has signed a new agreement with Unisys to upgrade and modernize the bank's disaster recovery environment for its core banking system. The contract was signed in the fourth quarter of 2016.
FEIB is part of the Far Eastern Group, one of the biggest conglomerates in Taiwan. With 56 branches in Taiwan and a branch in Hong Kong, FEIB provides financial solutions to both individual and institutional customers in Asia.
FEIB relies on the Unisys China System Finance (CSF) core banking system – designed specifically for Greater China's banking environments – to provide consumers and businesses with services ranging from customer relationship management, deposits and payments to funds transfer, risk monitoring and regulatory reporting. The CSF solution runs on the Unisys ClearPath Forward™ platform.
"Unisys ClearPath Forward solutions provide the flexibility and innovation to modernize our underlying IT infrastructure and support the delivery, through CSF and other channels, of new and enhanced services to FEIB's customers as part of our ongoing digital transformation strategy," said Lonnie Liu, executive vice president of FEIB.
Under the new contract, Unisys will provide a ClearPath Forward system for the disaster recovery environment, along with hardware and software maintenance and licenses and refreshed EMC storage systems.
The ClearPath Forward operating environments are the only ones on the market in which user data has never been forcibly extracted.1
The ClearPath Forward platform also provides a pay-for-use business model powered by metering technology that measures and records the processing power consumed by the system. This provides greater flexibility, easier capacity planning, reduced initial capital investment and long-term efficiencies because costs are directly aligned with the resources used.
Eric Crabtree, global head of Unisys Financial Services, said, "Like banks globally, FEIB is modernizing its IT infrastructure to prepare for the rollout of new Internet and mobile channels and branch modernization through digitized services. To achieve this, FEIB requires a highly reliable, secure and scalable core banking platform that can operate 24x7."
The global digital transformation trend is reflected in the Taiwan Financial Supervisory Commission's Bank 3.0 vision2 for Taiwan's banks to deliver financial services "anytime, anywhere" through mobile technology and digitalization of the bank business environment.
Tony Windever, vice president and general manager, Unisys Asia Pacific, said, "Customers across Asia expect to be able to engage with their banks anytime, anywhere. That expectation requires the underlying IT infrastructure to be able to handle growing and highly volatile transaction volumes at all times with extremely high scalability, security and availability. The disaster recovery environment provides an excellent opportunity to show how the flexible ClearPath Forward platform can enable FEIB to handle the growing and unpredictable demands of Taiwan's digitally enabled banking customers."
Unisys works with financial services clients across the globe to confidently transform the customer experience, leverage data analytics, fight financial crime and defend against cybercrime. Unisys serves more than half of the top 50 global banks. Unisys solutions protect more than five million Internet banking customers in Singapore, Hong Kong and Malaysia from banking fraud.
1 - Based on Unisys analysis of incidents in the U.S. National Institute of Standards and Technology National Vulnerability Database, February 3, 2017.
2 - The Financial Supervisory Commission Digital Finance Environment 3.0 program
About Unisys
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RELEASE NO.: 0419/9497
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