DBS Bank Selects Eontec for Next Generation Internet Banking Service

Business Wire, Nov 27, 2003

Business Editors/High-Tech Writers

CHARLOTTE, N.C.--(BUSINESS WIRE)--Nov. 27, 2003

Eontec, the global leader in the delivery of multi-channel customer banking solutions, announced today that Singapore's leading bank, DBS Bank, has selected the Ireland-based Eontec as the Software Package Vendor for the bank's next generation Internet Banking Platform. The new software technology will increase the functional capability and processing scalability of the bank's Internet and Wireless banking services.

Eontec, with 1st tier banking customers in North America, Europe and Australia, established a service center of excellence in Singapore in January 2002 to provide licenses and professional services for the Eontec Product in the South East Asian Markets. The Eontec Product comprises functions and technology which enables banks to provide services uniformly across multiple channels such as Branch, Call Center, Internet, ATM's etc, using the same instances of software components.

Timothy Neo, Managing Director of Eontec in Singapore said, "Eontec welcomes DBS Bank to the Eontec User Community. Eontec has licensed to DBS Bank the full range of retail service features from the Eontec Product, and will provide some extensions and customizations to match the specific Internet and Wireless banking service requirements of DBS."

The Eontec User Community facilitates licensees of the Eontec Product to share ideas, experiences and customized software, in their application of the Eontec Product to their retail banking service business.

Commenting on the banks selection of Eontec for its next generation Internet Banking Services, Mrs. Lee Whye Choo, Managing Director of Information Technology at DBS Bank said, "After an extensive evaluation of vendors as well as a proof-of-concept test, we selected Eontec because of it's proven flexibility, performance and scalability. Our investment in Eontec will also enable us to subsequently deploy the common services components over other channels. "

DBS Bank was the first bank in Singapore to offer Internet Banking services as early as 1997. Its Internet Banking customer base has grown significantly over the last five years to more than half a million customers, the largest Internet Banking customer base among Singapore banks. Despite DBS Internet Banking's short history, there were several innovative "firsts" services introduced for the convenience of its customers. These include:

-- First to offer instant Internet PIN application at the ATM

(1999);

-- First to offer IPO application on Internet Banking (2000);

-- First to offer online direct debit payment (2000);

-- First to offer Foreign Currency Fixed Deposit Placement (2002)

-- First to offer third-party funds transfer via Internet banking

(Y2002); and

-- First to offer two-factor authentication for third-party funds

transfer using mobile text messaging (2003).

DBS Internet Banking is today one of the most widely used channels as customers embrace the convenience of online banking. As the software technology platform for the next generation of DBS's Internet Banking service, Eontec will enable the bank to further enhance it's on line service.

About DBS Bank

Headquartered in Singapore, DBS is one of the largest financial services groups in Asia. The largest bank in Singapore and one of the top five in Hong Kong as measured by assets, DBS has dominant positions in consumer banking, treasury and markets, securities brokerage, equity and debt fund raising. Beyond the anchor markets of Singapore and Hong Kong, DBS serves corporate, institutional and retail customers through its operations in Thailand, The Philippines, and Indonesia. In China, the bank has branches and representative offices in Shanghai, Beijing, Shenzhen, Fuzhou and Tianjin. The Bank's credit ratings are among the highest in the Asia-Pacific region. More information about DBS Group Holdings and DBS Bank can be obtained from our website www.dbs.com.

About Eontec

Eontec is the leading global provider of multi-channel customer banking solutions to major financial institutions. Eontec provides proven systems packaged from reusable financial components for retail and corporate financial services, including branch operations, lending, payments, and credit card services. These can be deployed across multiple channels including the branch, call centers, the Internet, ATMs and wireless devices to create a unified customer experience.

When used as a strategic platform for business transformation to customer-centric banking, Eontec delivers an operationally driven single view of customer and empowers financial institutions to roll out innovative services by exploiting existing CRM and legacy systems. Eontec's technology enables financial institutions to respond faster to new opportunities and competitive pressures by managing the combination of outsourced operations and insourced product origination that will characterize banking in the 21st century.

Eontec pioneered Java(TM) technology in Financial Services and was the first company to offer true multi-channel banking software. Our implementations offer a unique dual benefit - tailored solutions for immediate priorities and a reusable asset for future demands. Today Eontec offers a proven J2EE(TM)-based solution. Composed of business functionality, multi-channel services and an integrated assembly environment, Eontec(TM) realizes the promise of component technology - flexibility, speed and cost reduction.