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Corporate Announcement
AVM Cloud partners with Consolsys to offer 'next generation' financial services solutions
Published:  Dec 10, 2021 1:00 PM
Updated: 5:00 AM

TIME dotCom Berhad subsidiary AVM Cloud recently signed a collaboration agreement with Consolsys Sdn Bhd (Consolsys) to bring 'next generation' Financial Services Industry (FSI) solutions to the Malaysian market.

AVM Cloud CEO David Chan (right in pic) said that the agreement is a milestone for both parties to create a marketplace focusing on financial services industry (FSI) solutions across Malaysia as well as the international market.

"We are pleased to have concluded the agreement with Consolsys which is renowned for its specialisation in banking automation solutions," said David.

Under the partnership, Consolsys will emerge as an anchor tenant for AVM's Cloud Financial Marketplace for Digital Banking Solutions in Malaysia. The marketplace is located at Magicbox@Cyberjaya which is situated within the AIMS Cyberjaya building.

AIMS Cyberjaya, another subsidiary of TIME DotCom, is a purpose-built data centre which supports hyperscalers, safeguards mission-critical data and provides vast interconnectivity. One of the region's largest telecommunications hubs, it is especially suitable for organisations which require high power usage and huge floor spaces.

Meanwhile, Consolsys Group MD Ahmad Oliaei said that the company's mission is to provide FSI with state-of-the-art business automation solutions that embraces the best practices derived from Consolsys’ partnership with its customers. Ahmad highlighted that the development of the Mosaic Voyager Solutions platform was based on long term relationships with customers and the company’s deep understanding of their goals, objectives and aspirations.

"In today's age where FSI customers have become more discerning, it is important to personalise and optimise every interaction to drive sustainable and profitable growth," said Ahmad, adding that Mosaic Voyager solutions were developed based on 3 key specific values: Design, Modular and Integration.

“These key values will not only meet the customer’s immediate operational requirements but will further provide them with a sound system foundation for their business growth while minimising the operational cost going forward,” said Ahmad.

“These values will provide our customers the ability to expand their customer base through digitalisation using the same service layer to avoid system development duplication, reduce procurement cost through modular acquisition and having an in-built integration module that reduces overall system integration cost and radicalises workflow processes.”

Consolsys has a growing team of highly skilled and experienced staff dedicated to serving their customers. Its senior management team has 300+ years of cumulative experience serving the FSI.

As a result of this partnership between AVM Cloud and Consolsys, facilities would be made available at the AIMS datacentre for Consolsys to perform demonstration as well as research and development.

AVM Cloud chief executive officer David Chan said that, with AVM Cloud sitting on the AIMS datacentre as part of its multi-availability zones, solutions provided by Consolsys are supported by highly available infrastructure, resilience and assurances such as the Payment Card Industry Data Security Standard (PCI-DSS) and Risk Management in Technology (RMIT) compliance.

PCI-DSS compliance is critical being a set of security standards designed to ensure that all companies that accept, process, store or transmit credit card information maintain a secure environment. The PCI-DSS standards are administered and managed by the PCI SSC, an independent body that was created by major payment card brands, namely Visa, MasterCard, American Express, Discover and JCB.

Both AVM Cloud and Consolsys will be jointly working on the 'go to market' strategies to benefit the FSI.

"At AVM Cloud, our customers are at the heart of everything that we do: Which in essence is about delivering superior cloud solutions and assisting them in their digital transformation and cloud computing journey. It is about enhancing their digital presence as well to bring in additional value to their core businesses," added David.

"With the digital banking revolution currently underway, FSI organisations need to reinvent themselves to continue staying relevant to their customer base. This is where AVM Cloud and Consolsys come in: We are here to help the FSI transcend beyond their current digital challenges to meet new competitive dynamics through latest Cloud technologies for enhanced virtual services through the use of artificial intelligence, robotics and machine learning.”

Source: AVM Cloud

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