Press Releases
Callataÿ & Wouters enters Islamic Banking market
Vendor partners with the IA Group to launch Shariah-compliant solution in Malaysia
Brussels and Kuala Lumpur, 21 October 2009 – Callataÿ & Wouters, a provider of core banking and multi-channel distribution solutions, today announced the formalisation of its partnership with the IA Group Sdn Bhd (IA), a Malaysian management consulting, technology and outsourcing company. The two companies are partnering to develop an Islamic banking solution for the region and global market. Callataÿ & Wouters and IA will jointly develop, implement, support and market the Thaler Islamic Banking solution in Malaysia initially, with plans to extend the initiative globally.
The partnership marks Callataÿ & Wouters’ expanding presence in South East Asia and its commitment to the Malaysian market, a significant growth area in Islamic banking. The joint effort between Callataÿ & Wouters and IA over the past year will see the first customer in Malaysia going live by early 2010 with the Thaler Islamic Banking solution. With Callataÿ & Wouters’ expertise in the core banking field, and IA’s knowledge of Shariah compliance and experience in the large scale technology project implementations, the offering is expected to appeal to institutions across the world looking for a Shariah-compliant solution.
Thaler is a scalable core banking system that includes functionality for deposits, loans, securities, treasury and payments. Modular, scalable, and highly flexible, it can address a wide range of core and analytical banking activities in multiple channels. It is designed to run either as an end-to-end solution, covering the entire range of core banking activities, or on a modular basis to support individual lines of business, such as retail, private wealth management and direct banking.
Dr Hamzah Kassim, Chief Executive Officer, IA commented: “Callataÿ & Wouters’ expertise in the core banking space and strong track record for delivery, make them the ideal partner with which to collaborate on forthcoming projects in the region. In Thaler, not only do we see a scalable end-to-end platform that is flexible enough to meet client requirements, but the real potential to develop a global solution that we could go to market with. With Callataÿ & Wouters strong presence in Europe, IA can also position strategically to tap into the growth of Islamic finance in the European market. ”
Marc De Groote, CEO, Callataÿ & Wouters, added: “As Islamic banking continues to grow around the world, Shariah-compliant solutions have to look to provide alternative banking and services particularly in Asia and the Middle East. For Callataÿ & Wouters, the partnership with IA presents an opening to not only acquire new customers in the region, but also to venture into a new line of business, offering a solution with global reach and opportunities.”
About IA Group Sdn Bhd
IA Group Sdn Bhd (A) is one of the largest Malaysian incorporated Management Consulting, Technology and Outsourcing company with offices in Malaysia, Indonesia, India and Saudi Arabia. Combining the extensive experience of our team across many industries and business functions, we help clients in the areas of strategic planning, implementation of technologies and day-to-day operations in achieving their business objectives. Its client base includes large Malaysian companies, financial institutions, and multi-nationals, e.g., Felda, Bank Simpanan, Maybank, Bank Islam, Bursa Malaysia, Novartis. www.theiagroup.com
