ICICI Infotech receives $2.35 mn global software contracts

By siliconindia   |   Monday, 06 October 2003, 19:30 IST
Printer Print Email Email
MUMBAI: ICICI Infotech Ltd has received licensing and implementation contracts totaling $2.35 million from international banking firms, including Finansa Plc of Singapore and Nepal Bank Ltd, which will be executed within a timespan of four to six months. "The contract includes product licensing, implementation and customisation and will be executed both on onsite and offshore methods," ICICI Infotech executive director and president Manoj Kunkalienkar said on Sunday. Finansa Plc has awarded ICICI Infotech a $1 million banking contract and Nepal Bank that of over $1.1 million, while the remaining $0.25 million was awarded by a Dubai-based bank, he said, adding all the contracts were awarded in September. However, Kunkalienkar did not name the Dubai-based bank, citing a non-disclosure agreement. ICICI Infotech would implement four of its banking products - Kastle, Pinnacle, RiskFree and Newton - for Finansa to integrate its internal systems and manage customer information against multiple channels, he said. This would help to streamline critical business processes of the company, and in turn, help improve efficiency, he claimed. The company would implement Kastle and Pinnacle for Nepal Bank and Newton for the Dubai-based bank, he said. Kastle is a treasury solution for financial transactions, Pinnacle an asset and liability management solution, while RiskFree is a risk management system and Newton is core banking modular solution.

siliconindia