Issued in Bangalore and Yangon, a press release has confirmed that Infosys Finacle, part of EdgeVerve Systems, Infosys (NYSE: INFY), has been chosen by Asia Green Development (AGD) Bank of Myanmar. This will enable the bank to provide new services, including Internet and Mobile Banking. The aims are to “enable a transformational change at the bank by eliminating various manual processes, enhancing productivity, reducing errors, and ensuring 24 x 7 operations”.
Asia Green Development Bank Limited opened its head office and first branch in 2010 in Nay Pyi Taw. Today, AGD Bank has 53 branches throughout Myanmar and operates in Corporate, Retail, and International Banking. Its head office is now in Yangon. The bank become a public company in 2015.
Foreign currency current accounts can be opened in USD, Singapore Dollars and Euros. Myanmar citizens or foreigners can open an account and overseas and local companies.
Regular readers of FocusCore blogs will know we have continually reported on the economic growth in Myanmar. This was given further impetus by Andy Dey, President of Customer and Operations, EdgeVerve, when he noted “The banking industry in Myanmar is witnessing a renewed growth and banks are showing a strong appetite for expansion”.
These are further steps and proof of the excellent progress and opportunities being seen in Myanmar today. We encourage you to investigate further these opportunities and learn how your company can enter the economic good news. We specialise in helping companies start in Myanmar. Contact FocusCore and take the first steps to your Myanmar division becoming fully operational.