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City Union Bank signs Bankstar for LMS soln
The deal enables the bank to comply with RBI's guidelines on LMS including Liquidity Pooling, Collateral Management and Payment Scheduling.
Friday, February 20, 2004

Bankstar Technologies Ltd, the Hong Kong based Software Solutions Company, with a development center and Indian Subsidiary in Mumbai, today announced the signing of City Union Bank Ltd as its first customer for its RTGS Liquidity Management System (LMS) for Commercial Banks - METEOR.

METEOR is an acronym for Member Bank Transaction Exchange Over RTGS, which enables the bank to comply with RBI's guidelines on LMS including Liquidity Pooling, Collateral Management and Payment Scheduling. METEOR is one of a range of products from Bankstar Technologies created using Borland® Delphi(tm).

Anil Lalwani, managing director of Bankstar Technologies Ltd says," City Union Bank Ltd was our first Indian customer when they installed our File distribution System (FIDS) in 2003 and we are happy that they have reinforced their faith in us by signing for METEOR."

He further stated that METEOR uses Borland's highly sophisticated and well-tested products, which enables fast development of extremely stable solutions. This has enabled Bankstar to have a customer base of 50 customers including 6 of the world's top 100 banks and a leading BFSI conglomerate in Japan.

Sridharan, General Manager, CSD of City Union Bank Ltd expressed happiness and satisfaction on the work done by Bankstar for the bank. He said that this was the centenary year for the bank and they would strive to provide the most advanced services to their customers with the help of partners like Bankstar Technologies Ltd.

Satyen Parikh, Managing Director of Borland India Pvt. Ltd., said "We are deeply appreciative of Bankstar's investment in Borland Delphi for their core product set development as well as their continued support in providing a wide range of flexible and scalable solution sets to the Banking vertical. We are confident that the relationship will grow and show even greater promise."

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