Microsoft, Hcl, Ionic In Pact For Total Banking Solutions

Microsoft Corporation India Pvt. Ltd, HCL Corporation and Ionic Systems yesterday announced a strategic alliance to provide total solutions for retail and corporate banking.

The alliance offers Indian banking customers solutions based on the latest Microsoft Windows NT Server environment.

HCL Corporation will offer Systems Integration Services while Ionic will offer Bank Wide solution with world class products adopted for Indian environments, according to a press release.

Commenting on the alliance, Rajiv Nair, managing director, Microsoft Corporation India Pvt Ltd, said: Banks are looking at open standards, integration, ease of use and lower cost of ownership. With an increasing number of financial institutions moving towards complete automation. Microsoft intends to work closely with its partners to provide a new class of end-to-end solutions for the Banking Industry. Speaking on the occasion, Subhash Arora, director, HCL Corporation Ltd, said: The information technology potential in the Banking industry is immense, and HCL has made strategic investments to address this segment. HCL Corporations edge in this arena comes from its competencies in Systems Integration, Wide Area Networking and Communications Services, and its extensive reach and support infrastructure. We are looking to provide solutions and services using Microsoft Windows NT and SQL Server platforms, along with Ionic to provide Banking Applications for this environment.

Bernard Lunn, chief executive officer, Ionic Systems International, said: Customers in the Indian banking industry would be offered new generation solutions based on Microsoft Windows NT and SQL Server platforms with HCLs world class hardware.

Bank automation in India, a sizeable yet fragmented market, is expected to be a priority in the Banking industry this year as Indian Banks review the effects of Bank liberalisation and increased competition from foreign and private sector banks.

This alliance offers Indian Banking customers integrated branch retail and corporate banking application solutions developed by Ionic based on Microsoft Windows NT Server and Microsoft SQL Server and totally integrated by HCL Corporation.

The solutions package developed by Ionic includes a variety of retail delivery options that include branch automation ATM and Point of Sale transaction systems, corporate banking solutions for cash management clearing and treasury operations.

HCL is a $550 million transnational group with interests in computers, networking office automation equipment medical electronics, computer education and software services.

Ionic Systems develops markets and supports a range of banking software. Microsoft Corporation Pvt Ltd is a subsidiary of Microsoft Corp of the US.The alliance offers Indian banking customers solutions based on the latest Microsoft Windows NT Server environment. HCL Corporation will offer systems integration services, while Ionic will offer bank wide solution for Indian environments