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.
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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