Malaysia's Affin Hwang AM Chooses TIBCO to Undertake Digital Transformation Journey
TIBCO Software Inc., a global leader in integration, API management, and analytics, announced that it has been selected by Affin Hwang Asset Management Berhad (Affin Hwang AM) as its technology partner to aid the company's digital strategy, accelerating the pace of rapid application development and deployment of DevOps processes. The collaboration between TIBCO and Affin Hwang AM includes the company's implementation of the TIBCO™ Connected Intelligence platform, specifically the TIBCO BusinessWorks™ software and TIBCO Cloud™ Mashery® application. This work has led to the development of the company's first AI-powered chatbot, called Nadia, that is able to respond to client queries on portfolios and account balances in real time.
"Our commitment to continually drive innovation and enhance our clients' investing experience pushes us to seek new capabilities to respond to their needs,” said Allen Woo, chief innovation officer, Affin Hwang AM. “After considering factors like quality, servicing levels, and cost, we chose to partner with TIBCO because of its sterling industry track record and its readiness to work together with clients to find solutions."
"As financial firms like Affin Hwang AM in Malaysia and across SEA undertake digital transformations to stay ahead of the curve, cloud-native API platforms help them create, manage, and analyze APIs seamlessly with a single view of all on-premises, cloud, and edge APIs," said Melissa Ries, general manager, Asia Pacific and Japan, TIBCO. "This visibility improves efficiency and aids the transformation from a hybrid architecture model with legacy tools and services to a cloud-native architecture over the long term."
API management platforms are essential to digital businesses adopting cloud-native development and deployment practices. As enterprises increasingly adopt cloud-native tools for more speed, agility, and scale, API platforms such as TIBCO Cloud Mashery are ready to power digitally disruptive initiatives.
"We are now taking steps to leverage the full capabilities of the API to instill deeper learning within Nadia and offer a more personalized service. These efforts bode well for our innovative initiatives to create value for our clients," said Mr. Woo. "Since the rollout of TIBCO BusinessWorks and TIBCO Cloud Mashery, we have been able to significantly save time and cost on integration, as well as streamline development. By housing all workflow processes in a cloud-native infrastructure, we can drive better connectivity with our partners, especially as the world migrates towards an API environment. This will allow us to enlarge the ecosystem by ensuring collaboration happens across all platforms so that data can be exchanged quickly."
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About Affin Hwang Asset Management Berhad
Affin Hwang Asset Management Bhd ("Affin Hwang AM" or the "Company") was incorporated in Malaysia on 2 May 1997 under the Companies Act 1965 and began its operations under the name Hwang-DBS Unit Trust Berhad in 2001. In early 2014, the Company was acquired by the Affin Banking Group ("Affin") and hence, is now supported by a major home-grown financial services conglomerate. Affin has close to 40 years of experience in financial industry which focuses on commercial, Islamic and investment banking services, money broking, fund management and underwriting of life and general insurance business. Additionally, Affin Hwang AM is also 30% owned by Nikko Asset Management International Limited, a wholly-owned subsidiary of Tokyo-based Nikko Asset Management Co. Ltd, a leading independent Asian investment management franchise. Its head office is located in Kuala Lumpur and has a total of 7 main sales offices located in Peninsular and East Malaysia. They are in Penang, Ipoh, Malacca, Johor Bahru, Kuching, Miri and Kota Kinabalu.
Affin Hwang AM's core business is providing fund management services to private clients, as well as to retail clients via its stable of unit trust funds and private retirement schemes. The Company offers wide range of unit trust products and investment solutions with underlying investments comprising conventional equities, balanced, bond, money market, capital guaranteed, capital protected, global, structured and feeder funds, as well as Shariah-compliant equity, Islamic money market instruments and Islamic fixed income funds. Affin Hwang AM’s Shariah investment solutions are made available through its wholly-owned subsidiary and Islamic investment arm, AIIMAN Asset Management Sdn. Bhd. ("AIIMAN")
Since its inception in 2001, Affin Hwang AM has achieved an exponential growth in its total assets under administration (“AUA”). As at 31 March 2019, the total AUA, comprising in-house unit trust funds as well as corporate and discretionary portfolios stood at approximately RM 50.64 billion (combined AUA of Affin Hwang AM and AIIMAN).
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TIBCO, BusinessWorks, TIBCO Cloud, Mashery, and the TIBCO logo are trademarks or registered trademarks of TIBCO Software Inc. and/or its subsidiaries in the United States and/or other countries. All other product and company names and marks mentioned in this document are the property of their respective owners and are mentioned for identification.