SABAH, Malaysia, Feb. 12, 2020 /PRNewswire/ -- The Smart Sabah Initiative has kicked off its first phase - Sabah Pay, after State Government has given Sabah Credit Corporation (SCC) the mandate to set up the State e-wallet September last year. Running on Sunline's Digital Banking Technology, the initiative will ultimately enable the State to support a powerful smart finance platform.
Sunline Partners with Sabah Credit Corporation (SCC) to Drive Smart Sabah Initiative
The underlying foundation of Sabah Pay is inclusion and diversity, designed and developed for all walks of life, including the unbanked. The main feature of the first phase of Sabah Pay is the centralization of cash collection for Sabah State Government, enhancing the State's services delivery system via waste reduction, conveniences and improved efficiency. In the coming phases of Sabah Pay, digital lifestyle services like eKYC, virtual account, virtual financing, smart loan, multiple payment channels, e-parking, e-ticketing and more will be available.
As stated by CEO of SCC, George Taitim Tulas, "The key to a real Smart City is to enable services efficiency and ultimately improve the life of the citizens. Therefore, Sabah Pay is not only an e-wallet that allow cashless payments, but also the first step towards providing seamless financial services."
CEO of Sunline Overseas Business, Matthew Chen also stated, "Sunline is honored to partner with SCC in the Smart Sabah Initiative. We believe our experience as well as continuously efforts and commitment in offering the most innovative technology advancements will help make Smart Finance for Sabah a reality."
In the digital era, users are expecting seamless financial services available anytime, everywhere. The growing competitions from Fintechs and an increasing array of new regulations are also driving traditional financial institutions to transform, in order to stay ahead in the competition.
Sunline, pioneering innovations with the first JAVA based Core Banking System and Digital Banking System in China since 2002, has the largest installed base for both Core and Digital Banking System in the country. Sunline's Digital Banking Solution empowers financial institutions transform the way they do business, allowing them to build a comprehensive digital ecosystem and remain top performing in the digital era.
In line with Malaysia Government's Economic Transformation Program and Bank Negara Malaysia's (BNM) vision of cashless society and virtual banking, Sabah State is taking the first step in initiating Smart Finance and Sunline is proud to play a major role in this initiative.