Newgen Software to Power Check Truncation at Bank of Baroda
With a number
of emphatic wins in both Indian and International
markets for its Check Truncation System (CTS)
solution, Newgen Software added another prestigious
client in the form of Bank of Baroda.
RBI, the
central bank in India, has mandated the
implementation of an image-based check clearing
solution. Bank of Baroda, after rigorous evaluation
of several CTS solution vendors, chose Newgen
Software as the solution provider.
A number of
factors contributed to Newgen Software's winning
the order. The CTS solution is based on the BPM
platform. The bank already employs Newgen
Software's Document Management and Business
Process Management solutions for its Retail Banking
and Corporate Banking processes. This makes the
users at the bank familiar with software screens,
and therefore, they would require considerably less
time to get familiar with the CTS solution.
In addition,
unparalleled flexibility also made the bank choose
Newgen Software. The ability to integrate and
connect with any Check scanner and flexible
deployment model suited bank's requirements fully.
Also, the hardware-agnostic approach of Newgen
Software was a major draw for the bank.
Initially, the
solution would be deployed at close to 100 branches
of Bank of Baroda in National Capital Region.
CheckFlowT Enterprise would be deployed at the
central service branch, which would be connected
with 3 hubs, which, in turn, would be connected to
the branches.
The CTS order from Bank of Baroda has been bagged through HP. Newgen Software and HP have a long, enriching and mutually beneficial relationship, which includes collaborative working for several projects. HP is a technology solutions provider to consumers, businesses and institutions globally.
Bank of Baroda
was established in 1908, and has established itself
as one of the leading banks in India. The bank has
strong international presence with operations in 21
countries. The bank offers a wide range of services
for personal, business and corporate users. In
addition, it also offers a range of services for
international services that include NRI services,
Foreign currency credits, Offshore banking,
Correspondent banking, Trade Finance and
International Treasury among others. |
