Makati City, 27 February 2009 -- IP-Converge Data Center, Inc. (IP-Converge) has signed a contract with Malayan Bank Savings & Mortgage Bank, Inc. (Malayan Bank) for the implementation of a complete banking solution to enhance the latter’s operations. The project is in conjunction with Malayan Bank’s branch expansion and product diversification program to generate new business opportunities, and expand its customer base.  IP-Converge will deploy a complete banking solution product from Nucleus Software Inc.

Malayan Bank’s Senior Vice President Philip S. Madrigal sees the implementation of the banking solution an opportune time as the Bank prepares for rapid expansion to double its branch network in the next three years.

“IP-Converge offered the most appropriate service offerings that augurs well with our plans of moving forward,” says Madrigal. “The on-line core banking solution will give us technological edge in offering world-class products and services which will lead to growth and stability while preserving our primary thrust of providing our clients with YSL – yield, security, and liquidity.”

Built on the Oracle platform, the Nucleus software portfolio is an integrated suite of applications designed to support the typical business offerings of Banks and Financial Institutions. The Financial Suite provides a solution that address the asset, as well as, the liability side of business, core financial accounting and customer service.

The core banking solution consists of CAS (customer acquisition system), LMS (loan management system), GL (general ledger) & Deposits and Collections modules. The complete banking solution will integrate the Front-Middle-Back office functions and speed up turn-around time of operations resulting in higher banking efficiency and enhanced customer relationships.

Daniel Viray, IP-Converge Vice President for Financial Systems, is confident that the flexible and scalable core banking solution will address the operational and security needs of the respective operating groups across the bank and provide more value to their services.

“We are delighted to be part in the expansion plans of Malayan Bank,” says Viray. “Our knowledge and experience in the implementation of the core banking solutions, and our partnership with Nucleus ensures a quality and timely delivery of the full system to Malayan, thus allowing them to achieve their goals within its desired timeframe at the least possible costs.”

IP-Converge is the local system integrator of Nucleus Software Inc. and other world leading financial systems providers allowing it to offer a complete suite of Financial Solutions from core banking, loan modules, credit card products, including risk and treasury management.

Formed in 1996, Malayan Bank is owned jointly by the principal shareholders of GMA Network Inc.; Majalco Group; LINQ Information Entertainment Quadrant Corp, a subsidiary of Philippine Daily Inquirer, and Liberty Flourmills.