Bangalore, Dec.16, 2000
B'lore Firm launches Software for Banks

The Bangalore based Processware Systems Limited today launched Banksoft Wins, the latest version of its software for Indian cooperative banks with internet interface enabling customers to transact certain operations such as transfering their money to different accounts within the bank and access information about their accounts online.

The Software, launched by the State Information Technology Director E. V. Ramana Reddy, will be first installed in the Mangalore Catholic Cooperative Bank within next three to four weeks. Speaking to Deccan Herald here, the Company Technical Director, Mr. R.Gurumurthy said the latest version of software would be later installed in 50 out of its 100 bank clients across the country by the year end.

He, however said the product could not facilitate inter-bank transaction due to lack of payment gateways. Therefore, the company has suggested the cooperative banks to set up a single-gateway in the state, Mr. Gurumurthy added.

He said the BankSoft was very cost effective when compared to the existing products in the country and provided total branch automation, head office module and inter-branch reconciliation. The company also provided total turnkey solutions to their customers from selectioon, installation of hardware to training their employees. The Sindhanur Urban Co-operative Bank, which was using the BankSoft software, became the first cooperative bank to obtain ISO 9002 certification for its services, Mr. Gurumurthy said.