HMA STARware signs MoU for $3 million

BANGALORE: The Chennai-based HMA STARware, engaged in offering

solutions for the banking sector and part of the HMA Group, has signed a

Memorandum of Understanding (MoU) for an order worth $3 million with a Texas-US

based credit management software solutions firm. The US-based firm reportedly

caters to mortgage banks, community banks and credit unions.

The business scope is for integrating HMA STARware's flagship product ezLINK,

the financial transaction switch, with the credit solution platform of this

company. As per the agreement, HMA STARware will install, implement and

commission the solution at various client sites of this credit management

company all over North America.

"This order is a remarkable achievement for HMA STARware as it is only

six months since we commenced our offshore development operations", said

HMA STARware’s chairman and MD Harish K Murthi. "We are also in the

process of implementing a payment gateway for the National Republic Bank of

Chicago and plan to be among the major players in the overseas market for middle

ware products", he added.

In the domestic front, HMA STARware, has a current order backlog of around Rs

50 million in the current financial year. With plans to further expand its

activities in the international arena, the firm is setting up a lab in Houston

for developing software products for ATMs which will suit various protocols used

all over the world.

Besides the US, the firm has commenced its operations in Sri Lanka and the

Middle East and plans to expand the same in Singapore and Thailand. HMA STARware

is also revamping its portfolio of banking software products to suit European,

North American and Latin American markets.

HMA STARware has concentrated banking software knowledge. The firm has an

extensive ATM and financial transaction experience and has strong expertise in

networking protocols, switching products, ATM connectivity to hosts, cash

management systems, messaging standards and internet products.