Release Date: Monday, August 24, 2009
Established in December 2007, Equitas Micro Finance India signed 300,000 customers in its first year and operates out of 100 branches in the states of Tamil Nadu, Andhra Pradesh and Maharashtra.
The outfit has selected T24
for Microfinance and Community Banking (T24
for MCB) to support and automate its operations from a single platform. Temenos
says its technology provides Equitas with a standardised yet cost effective core banking platform, enabling it to offer a wider range of services.
H Mahalingam, CTO, Equitas, says: "Our vision is to be the number one microfinance provider in India and investment in modern technology is vital to achieve this goal. T24
for MCB will help us to rapidly define new products and dramatically reduce our time to market. T24
will play an important role in automating the production of our management reports and delivering these in a matter of hours."
The Temenos
professional services team will work with Equitas to implement the platform on IBM Power P6 servers and a jBASE
database. The system is scheduled to go live in Q3 2009.
About Temenos
Founded in 1993 and listed on the main segment of the Swiss Stock Exchange (SWX: TEMN), Temenos Group AG is a leading provider of integrated modular core banking systems. We serve more than 600 customers in over 120 countries, supported by 44 offices with more than 2,300 staff made up of over 60 nationalities.
Temenos’ only domain is banking software and our success is achieved by being completely focused on providing the best banking software available today. To this end, we consistently devote 20 percent of our revenues to research and development, higher than the average of our industry peers.
Temenos software provides banks with a single, real-time view of the client across the enterprise, enabling banks to maximise returns while streamlining costs. We provide 24x7 functionality to the Retail, Corporate and Correspondent, Universal, Private Wealth Management, Islamic, Microfinance and Community banking sectors. Temenos partners with central banks on core system replacement; and works with the World Bank on solutions for emerging markets.
For more information, visit http://www.temenos.com
About Temenos T24 (T24)
T24 is the most technically advanced banking system in the world today. It is a 24-hour real-time banking application that provides multiple application server support to a huge number of users. The system also eliminates the need to run End Of Day processing. It ties together multiple channels, and provides CRM functionality and true non-stop processing in a single system.
For more information, visit http://www.temenos.com/Software/T24/
About jBase
A multidimensional database, a development environment including a
development language, and a middleware component allowing other
mainstream and standards-based products to communicate with the jBASE
products. The unique jEDI middleware enables access to other databases
such as Oracle, DB2 and SQL Server. Microsoft Windows, all major Unix
platforms including Linux, and IBM's e-Servers are supported.
For more information, visit http://www.jbase.com/products/jbase.html
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