Wednesday, May 22, 2024
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Aegis unveils refurbished cash processing centre

Aegis celebrated the official launch of its refurbished cash processing centre (CPC) at its headquarters yesterday.

The state-of-the-art facility which is in full compliance with international banking standards can accommodate 30 operators, and is capable of processing high volumes of notes and coins for all financial institutions and retailers of multiple sizes (small, medium and large), where previously there were only five workstations.

Minister at the Prime Minister’s Office and Minister of Finance and Economy II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah inaugurated the launch in the presence of Aegis Directors Musa bin Haji Adnin, Ahmad Morshidi bin Pehin Orang Kaya Digadong Seri Diraja Dato Laila Utama Awang Haji Abdul Rahman, Nur Khadijah binti Ahmad and Aegis CEO Jorge Vega.

Guests included Brunei Darussalam Central Bank Executive Director Pengiran Maslina binti Pengiran Haji Mahmud and senior executives from various financial institutions.

Aegis executives walked the guests through its facilities to showcase the security features of the premises. The ribbon-cutting was held inside the CPC, followed by a demonstration of Aegis’ new G+D counting machines and new software, and viewing of an armoured vehicle; concluding with refreshments.

Minister at the Prime Minister’s Office and Minister of Finance and Economy II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah during the ribbon-cutting. PHOTO: AEGIS

Aegis initiated the company’s digitalisation by utilising cutting edge world-class solutions, equipment and software to conform with international standards.

The Cash Services Department is the first division to achieve full digitalisation – reducing paper usage by 90 per cent, enabling real time tracking of cash services, and ensuring maximum security and accountability. This has resulted in impressive results with a decrease of 65 per cent in ATM/Cash Deposit Machine (CDM) replenishment time and a reduction in processing time of 25 minutes per machine.

Sharing Aegis’ vision for the cash industry in the Sultanate, Jorge Vega said, “We believe that we can transform the cash cycle in Brunei Darussalam. With our new cash centre, we are capable of handling all your cash cycle through a full outsourcing mode. We have a vision of a centralised unique ATM network for all banks nationwide; where banks do not need to manage ATM’s anymore and every citizen can go to any ATM to withdraw or deposit cash with minimal to no downtime…You run the business, let us handle your cash.”

He also expressed confidence, based on international studies showing globally the use of cash continues to increase around four per cent per annum, and that “cash is still king” despite the emergence of e-wallets and free interbanking.

Jorge Vega also officially announced Aegis’ investment and business venture in the Philippines with the addition of Aegis Corporation to the Aegis umbrella, stating “this demonstrates that Brunei companies are not held back by Brunei borders but can deliver a high quality service to customers overseas and transfer our expertise.”

Aegis Corporation is already operational and servicing customers in Cebu and various islands. The Philippines is estimated to have a population of 23,000 ATMs which makes it a very exciting venture for Aegis.