Core banking modernisation sharpens Baiduri Bank’s strategic focus

Ti Eng Hui, CEO of Baiduri Bank, one of the largest private commercial banks in Brunei, believes it is at the cusp of a significant transformation, centred around the integration of a new core banking system that promises to reshape its operations fundamentally.

One of Baiduri Bank’s recent milestones was the comprehensive overhaul of its core banking system. Ti said: “We are in the process of integrating a new core banking system that will bolster operational efficiency, enhance customer experiences, and elevate our competitive standing”. The new system will also allow the bank to better leverage the new national digital payments hub slated to be launched next year.

Baiduri Bank sees itself as a pioneer in Brunei’s financial sector, being the first to launch internet banking and a co-branded travel card in the country with national carrier Royal Brunei Airlines. Its decision to implement the new cloud-based Temenos Transact core underscores its commitment to staying at the forefront of digital banking.

Ti said the strength of Baiduri Bank’s financial performance so far in 2023 has been underpinned by astute management. He explained: “Our financial results were also helped by treasury and financial market gains from the deployment of excess liquidity in overseas markets.”

Baiduri Bank’s new building that it moved into during the first wave of the COVID pandemic stands as a testament to its commitment to providing customers with a holistic banking experience, and to the wellness of its employees as well. The building features a hospitality-inspired branch with a front desk, an industry-leading banking centre for its high-net-worth customers, as well as a versatile multi-purpose hall, Baiduri Community Space. The thoughtfully-designed spaces align with the bank’s values and priorities, focusing on improving customer, community and employee interactions.

Beyond financial performance, Baiduri Bank focuses on corporate social responsibility. Ti commented: “We have actively engaged in various community initiatives, including our flagship programmes Baiduri Masters charity golf tournament and Let's Give Back this Ramadhan, an annual event to support underprivileged families, in line with our commitment to enriching, empowering and engaging the communities we serve.”

This commitment extends to the work environment, with Ti saying: “We view our success not just through financial results but also by the benefit we bring to employees and the wider community.”