CashTech sets eyes on overseas markets

By siliconindia staff writer   |   Friday, 28 November 2003, 08:00 Hrs
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HYDERABAD : Cash management solutions provider CashTech Solution India has announced plans to move into new overseas markets in China , Europe and the US with product offerings for banks. With a strong presence in the South East and the Far East Asian markets, the company will be implementing its advanced suite of products for a major bank in China .

“Soon, we are starting work in China with a major bank in implementing our suite of products. We are in a pre-eminent position in Asia and looking to take our products to the US and Europe ,” CashTech’s director Raj Subramaniam said here on Tuesday. CashTech is funded by one of the largest global private equity investors, Warburg Pincus & Co, which holds 20% equity in the company.

Subramaniam said there is a growing demand for cash management services from advanced markets which could be tapped by teaming up with major solution providers like IBM and Accenture. He added that Bank Rakyat Indonesia (BRI) would be the first bank to implement CashTech’s advanced suite of products.

The company has launched a J2EE-compliant cash management platform to tap the growing demand from Indian and foreign banks for cash management solutions.

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