Hewlett-Packard Co. said it has completed installation of an Internet banking system for Oversea-Chinese Banking Corp. of Singapore.
Hewlett-Packard, which has been emphasizing its "time to market" capabilities, said it completed the $1.3 million project in 15 weeks.
At the heart of the system is VirtualVault, the security system HP acquired from Security First Network Bank in the United States.
It includes a link to NetTrust, a Singaporean digital certificate authority.
"We are breaking new ground with Internet banking, and HP's ability to work closely with local e-commerce security organizations such as NetTrust was an added advantage," said Edwin Ng, vice president of electronic banking at OCBC Bank.
Retail and commercial customers are able to transact a wide range of banking and investment business via the World Wide Web.
Chosen over four competitors, HP got the contract for hardware, software, and professional services. The application software is based on NT Software's InBank, which has been widely deployed in Malaysia, and Adroit Innovations provided host connectivity and Web page design.