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ICICI Infotech forges alliance with Eurobase
By siliconindia
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Thursday, 05 August 2004, 19:30 IST
MUMBAI: ICICI Infotech, a leading end-to-end IT solutions provider, today announced a strategic alliance with Eurobase systems, a key software and services supplier in the global banking and insurance markets. This alliance will allow Eurobase to integrate ICICI Infotech's flagship offerings Kastle, a back office treasury system and RiskFree, a market risk analysis system, with its treasury dealing system Siena to provide a truly integrated STP solution for a bank's treasury needs.
Both ICICI Infotech and Eurobase have invested significantly in developing and integrating the products, bringing to market an Object Orientated solution giving a low cost of ownership that allows customer specific changes to be developed quickly and maintained as part of the core software.
Opining on the alliance, Hari Padmanabhan, Executive Director, ICICI Infotech said "ICICI Infotech's in-depth expertise in the financial services market coupled with a leading solution like Siena will provide the banking industry with a complete front-middle-back office STP solution."
"The integrated solution will allow Eurobase to offer clients' a genuine advantage in this increasingly competitive marketplace." He further added.
John Wilson, CEO of Eurobase adds, "The Eurobase product vision is to provide banks with a very cost efficient STP solution, whilst effectively managing operational, market and credit risk. We chose to work with ICICI Infotech because of the rich functionality of the products and the compatible modern technology of the solution, which complements Siena's Java architecture. This made for easy integration of the product, providing a consistent view of the data across the front, middle and back office operations. The architecture also allows us to interface to other front office solutions where a bank deploys more than one. Our strong relationship with Infotech will enable us to work together on future product development to ensure our clients benefit from the application of IT to their needs".