Consolidation in the banking sector to drive the demand for secure e-business infrastructure
Cordoda
Internal-05/09/01
According to Shane Hodge, chief operating officer, Cordoda Corporation Sdn Bhd, Malaysia’s new class network service provider expects a significant increase in the demand for Internet related applications from e-banking through to e-payment, as more businesses adopt e-business strategies in Malaysia to stay ahead.
Kuala Lumpur, Malaysia, 5 September 2001 – According to Shane Hodge, chief operating officer, Cordoda Corporation Sdn Bhd, Malaysia’s new class network service provider expects a significant increase in the demand for Internet related applications from e-banking through to e-payment, as more businesses adopt e-business strategies in Malaysia to stay ahead.
He also explained that the increased availability of secure and redundant Internet infrastructure is pushing confidence in transacting and transferring data via e-business networks. This demand is being driven by banks and financial institutions in Malaysia, aiming to become first movers in delivering compelling e-commerce and e-business solutions. Cordoda, through its Enterprise Broadband NetworkÔ (EBN), provides a comprehensive solution to the accessibility and info-communications needs of the banking and finance sectors in Malaysia. Under the EBN service offering, Cordoda provides a wide array of connectivity solutions, managed network services and e-business capabilities.
“We have already seen a significant interest in our Enterprise Broadband Network, not only from content rich applications providers seeking the channels to distribute, but also local corporations looking to deliver solutions and services to their customers via the Internet. The banks and the financial institutions, especially, are aggressively pursuing opportunities to gain the competitive advantage in their respective markets,” said Hodge. Furthermore, banks and financial institutions are being forced to re-look at their business strategies to glean and realise further profits in an already shrinking and extremely competitive market. The adoption of e-business strategies and models offers these banks a real opportunity to gain the competitive advantage and realise significant profits and benefits.
EBN’s managed network security offerings encompass access control and protection from malicious attacks, Virtual Private Network (VPN) capabilities, network address translation (NAT), intrusion detection, protective response, demilitarized zone (DMZ) service, 24 hours by 7 days (24x7) monitoring, management, real-time reporting, and a defined escalation procedure. These services enable customers to receive the expertise, guidance and accountability that are essential in managing info-communications technology providing them with a proven and cost effective solution.
According to Hodge, “Internet banking and electronic payments will become a common feature of Malaysian consumer lifestyle in the near future. Our banks and financial institutions are ready and exploring”. Noting the maturing of major re-structuring exercises in the financial services industry in Malaysia, Hodge reveals that financial institutions here are gearing up for market consolidation and the entry of foreign banking institutions in the near term by looking to invest in Internet technologies and e-business solutions.
“For Internet banking to be widely offered and adopted in Malaysia, it is critical that the Internet infrastructure is secure, redundant and reliable. The success of this concept depends upon the availability of such infrastructure that offers comprehensive accessibility and almost guaranteed coverage”, added Hodge.
As part of the 18-node Malaysia-wide Internet infrastructure, EBN offers corporations a reliable, redundant and resilient network integral to conducting e-business in Malaysia. Built at a cost of Ringgit Malaysia 47 million, EBN, which was launched early this year, supports the delivery of high traffic and data content. Already the company supports over 54 clients in the manufacturing, financial services, and retail industries, including TA Securities, Lon Pac Insurance, and Triumphal Associates.
“We are confident that with the increasing demand for Internet banking and e-business solutions, the requirements for secure, reliable, widely accessible and most importantly fully redundant Internet infrastructure such as the EBN would become critical in Malaysia”, concluded Hodge.
This
news is related to Cordoda Corporation Sdn Bhd
Search
for more news relating to Cordoda Corporation Sdn Bhd
Search
for products & services relating to Cordoda Corporation Sdn Bhd
