CHENNAI: Muscat headquartered Bahwan CyberTek, an associate company of the billion-dollar Suhail Bahwan Group, has entered the Indian market targeting the BFSI segment. The company has launched three of its CUECENT range of products for the BFSI industry.

For the last four years, Bahwan has been building its products and solutions at its Center of Excellence (CoE) in Chennai. The facility at Chennai currently has 200 professionals, though over a period of three years the company intends to scale it up to 500 professionals. "Reassured by our success in other markets we are now entering the Indian market. In BFSI, which is a growing market, we see tremendous opportunity for our products and services," said Bahwan CyberTek Director & CEO, S. Durga Prasad.

Bahwan has currently appointed three partners (Protech Soft from Chennai, Team Frontline, Kerala and Strategic Management Services for Delhi and Mumbai) to tap the Indian partners. They are in the move to appoint few more partners.
"CUECENT CashSwitch acts as a Centralized Inward Remittance Platform (CIRP), which will allow Indian banks to route inward cash remittance from money exchange houses quickly to their beneficiaries in India," said Prasad.

CashSwitch was developed at the Chennai development center. CUECENT PaySwitch serves to bring multiple financial institutions together on a common platform or as a part of a common market place to enable the customers to access the services of the member institutions. "This is essentially a financial service aggregator, which will enable banking and financial institutions to offer their customers a convenient, cost-effective and informed approach to financial services," said Prasad.

CUECENT FPMS (Financial Portfolio Management System) is an application software, designed to manage large funds.

(CNS)

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