SunTec finishes first phase of Lloyds-TSB deal

Tuesday, 14 December 2004, 20:30 IST
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THIRUVANANTHAPURAM: SunTec Business Solutions Pvt Ltd, a software company based here, has finished implementing the first phase of its multiple relation-based transaction pricing and billing with the London-based Lloyds-TSB Bank. "Now that we have finished the first phase of the contract with the Lloyds-TSB Bank, we have been cleared for the multiple phases that has commenced already. The first phase took us 10 months and we successfully finished it October. The deal runs into millions of pounds", K. Nanda Kumar, CEO of SunTech, told reporters here Tuesday. SunTec is a SEI-CMM level 5 certified company - the highest level of the Capability Maturity Model (CMM) of the Software Engineering Institute (SEI) at the US-based Carnegie Mellon University. SunTec's "Transaction Business Management System" (TBMS), a complete suite of end-to-end customer care and billing platforms for the telecommunications and finance markets, is utilised by companies across the globe. Kumar said that to meet his ultimate goal of handing out a product that would capture all transactions in a single solution for which his company is ready, he is organising a user meet here where 50 delegates from major finance and telecom companies would assemble for the launch of a new concept called enterprise value management. "Among those who are coming are top officials from ComCast USA, Lloyds-TSB Bank, Batelco Bahrain, ING Bank Netherlands, Motorola UK, Essent Netherlands and Uninet, Estonia all of who use our solutions," said Kumar. SunTec is having its best ever performance since its opening 14 years ago and expects to close the current fiscal with a record turnover of 300 million - up from 200 million last fiscal. SunTec has a strong global presence with offices in Britain, the US, Germany, Singapore and India. It employs 250 software professionals here.
Source: IANS