Ares signs contract with Cosmos Bank for foreign exchange modules

Ares International Corp. recently signed another contract with major Taiwanese bank Cosmos Bank to introduce Ares foreign exchange modules, with the system to go live before the third quarter of next year.

Cosmos Bank successfully adopted the deposit and remittance/exchange modules of Ares AFEIS (Advanced Foreign Exchange Integrated System) in the third quarter of last year. As such, Cosmos has decided to entrust Ares to implement more complete and varied foreign exchange functions.

Ares plans to introduce clearance and OBU information systems for Cosmos in two phases. During the first phase, Ares will introduce OBU bond system, inter-bank foreign exchange system, capital process system, exchange rate quotation system, foreign exchange and pre-payment/sales systems. The second phase will consist of foreign currency loan and guarantee system, export system, import system and write-off system.

When the system goes live, the clearance department of Cosmos Bank can integrate the system with its front-end system to avoid manual errors. Meanwhile, Cosmos Bank OBU can benefit from the computer quotation function, becoming more competitive and flexible in foreign exchange business.

Built on an object-oriented design concept, AFEIS can be applied on various platforms, is stable and flexible. No longer can AFEIS be integrated with existing banking systems, but can be part of future system interface of the bank. Moreover, the system can be connected to SWIFT system. With strong scalability, banks can readily choose from AFEIS module basing on their individual needs.

Cosmos Bank has been aggressive in serving clients with information system deployment. To differentiate itself and improve service quality, Cosmos Bank aims to become a local bank with world-class capabilities.

Introduction of Ares AFEIS

AFEIS is a foreign exchange business system with complete functions, covering retail banking, wholesale banking, dealing room, etc. Using object-oriented design concept, the system can be built on multiple mainframe platforms. Its stable and flexible system characteristics allow combination with existing banking systems (securing existing investments), integration with future business interfaces and link to the global connection system of SWIFT.

Introduction of Ares

Ares International Corp. is the first Taiwan-based software company to be listed on the Taiwan Stock Exchange (TSE). Established for over 30 years, Ares is a professional management information system software provider, with expertise in product R&D and system integration. Ares provides products and total solutions for e-enterprise, with service areas covering the financial, government and enterprise segments. Ares has received CMMI L3 certification, has outstanding project integration ability, quality guarantee ability, development and maintenance ability and a complete professional consultancy team.