Mumbai/Kuala Lumpur, December 5, 2024: Clover Infotech, a leading provider of digital transformation and technology modernization services founded in 1994, and KISL, a seasoned IT organization with 24 years of expertise, have announced the signing of a Memorandum of Understanding (MoU). This strategic partnership will focus on delivering best-in-class digital transformation and managed services across the Oracle stack to leading banks and financial services institutions (FSIs) in Malaysia.
Clover Infotech brings deep expertise in Oracle technologies and its proven track record in managed services for banks through its “run the bank, change the bank, and transform the bank” initiatives. KISL comes with extensive experience of over 100 successful digital transformation projects across the Oracle stack. The MoU between KISL and Clover Infotech will empower Malaysian banks to reimagine their technology landscapes and seamlessly leverage new-age technologies to enhance growth and efficiency.
This partnership comes at a pivotal time as Oracle has announced its plan to invest more than US$6.5 billion to open a public cloud region in Malaysia. By leveraging Oracle’s cutting-edge technologies—such as the AI-powered Oracle Fusion suite and Oracle Cloud Infrastructure (OCI)—the partnership will enable Malaysian banks to modernize their applications, seamlessly scale their operations, and deliver exceptional customer experiences.
Key Objectives of the MoU
- Drive Innovation: Help banks to adopt Oracle’s AI-powered enterprise applications to develop new applications and products and go to market faster.
- Modernize Banking Technology: Transform legacy applications and infrastructure into scalable, cloud-based solutions using Oracle Cloud Infrastructure.
- Deliver Service Excellence: Provide managed services tailored to help banks to run, change, and transform their operations.
- Enable Future-Ready Banking: Equip banks with advanced tools to create engaging and immersive interfaces across lending, payments, and financial services.
- Ensure Regulatory Compliance and Adherence: Build systems, processes, and reporting frameworks to enable the banks to ensure complete adherence to regulatory and compliance guidelines.
The partnership will focus on enabling banks to not only meet but exceed customer expectations by introducing advanced technologies that enhance efficiency, agility, and innovation. Malaysian banks will gain access to a robust managed services model and state-of-the-art Oracle solutions to address the evolving demands of customers and regulatory requirements.
Kunal Nagarkatti, CEO, Clover Infotech, said, “This partnership reflects our shared vision of empowering banks and financial institutions in Malaysia with best-in-class digital and technology services and transformative Oracle solutions. Clover Infotech’s expertise in Oracle technologies and managed services, combined with KISL’s deep understanding of the local market, positions us to deliver unparalleled value. Together, we aim to enable banks to adopt a future-ready approach, leveraging Oracle’s AI and cloud innovations to build customer-centric, efficient, and scalable banking operations.”
Shanmuga Ganesh, President, KISL, said, “We are excited to partner with Clover Infotech to drive digital transformation in Malaysia’s banking sector. KISL’s proven track record in delivering over 100 successful projects, combined with Clover Infotech’s strong capabilities in Oracle technologies and digital transformation services for banks, will redefine how banks operate and engage with customers. This MoU is a testament to our commitment to helping Malaysian banks unlock their full potential by leveraging Oracle’s AI-powered solutions and cloud infrastructure.”
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