Ways India to offer Brokat’s E-finance solutions

NEW DELHI: Ways India Ltd, a provider of e-based solutions, has entered into

a strategic alliance with Brokat Asia Pte Ltd (Singapore), subsidiary of Brokat

Infosystems AG, to offer secure, flexible e-service solutions to banking and

financial institutions in India. As an exclusive country partner, Ways India

will also market, distribute, develop and integrate Brokat's products to provide

customized solutions to Indian banking and financial companies.

In addition to providing solutions to the banking and financial sector, Ways

will also develop applications along with Brokat for other sectors such as

government, trade, telecommunication and infrastructure companies. Ways will

integrate these products with the existing IT systems and secure connections to

various electronic channels such as the Internet, mobile phone or call center,

enabling customers to deploy e-banking, e-brokerage and e-payment.

Ways will initially focus on banks and financial institutions by providing

them with Internet Banking product, security packages for web based

transactions, electronic payment packages and web based broking. Announcing the

strategic alliance in Mumbai, Dr. Hemant Adarkar, Vice President, Ways India

Ltd, said, "Ways India intends to revolutionize the customary banking

procedures in the 21st century, and this strategic alliance is the first step in

that direction. Further, as commercial Internet sites are rapidly developing,

such state-of-the-art products, applications and web sites will not only become

an essential mode of conducting business for commercial organizations, but also

soon become a competitive imperative for them."

Miyuki Suzuki, Managing Director of BROKAT Asia Pte Ltd commented, "We

are pleased to announce Ways India as our strategic partner. We believe that

through this alliance we will be able to offer excellent synergies to financial

service providers who wish to make full and innovative use of Internet and other

online technologies." Brokat, with a market capitalization in excess of US

$1 billion, was ranked the fastest growing company in Germany and the 5th

largest in Europe for 1999. Its product Twister integrates existing IT systems

and applications within companies, and provides secure links to various

electronic channels like the Internet and mobile communications.