Indchem, Banqsoft partner to launch banking software solution

CHENNAI: Indchem Software Technologies Ltd. (ISTL), provider of solutions in

the area of banking and finance, logistics and healthcare has entered into a

partnership with Norway based Banqsoft ASA to launch its banking software

solutions to the Asia Pacific market with India as gateway. Banqsoft is a

supplier of core systems to the global financial industry.

Indchem will be business partner with Banqsoft in the Asia-Pacific market and

maintenance service partner globally. Banqsoft offers a complete system for the

administration of loan, leasing and deposit portfolios. Its main product View21

is based on a number of fundamental criteria such as multi-currency handling,

language independence and flexible general ledger and product set-up.






Banqsoft selected India as its next partner because of its market potential.
"We saw India as a gateway to Asia and Middle East. With a sale of $ 9

million and growth of 40 per cent we are sure of handling the new markets. And

our partners should be able to handle the sales and marketing, deliver projects,

customer support and system adaptations," said Jens Christian Vigulf,

director, Banqsoft.

Indchem expects 10-15 per cent of income in the long run from Banqsoft's

revenue, said Indchem Chief Operating Officer SR Ramaswami.

Indchem recently developed two customized products for the banking segment -

CPAssist and bANK21, which would be launched shortly. CPAsist targets the

prospective customers of a bank or financial institution. "bANK21 provides

Internet enabling for any bank - small, large and global as well. It took nearly

8-10 months for developing this product and runs on Internet, WAP and PDAs,"

said Ramaswami.

Indchem Software Technologies Ltd. (Indchem Software) with subsidiaries in US

and Singapore, is an associate of the Sanmar group.