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ICICI Bank to Deploy SunTec's Transaction Business Management System-Finance (TBMS-F) Solution for it's Corporate Clients
SunTec Business Solutions Private Limited, a leading software company, has signed a deal with ICICI Bank, India's second largest bank, to deploy Transaction Business Management System-Finance (TBMS-F) software, for the corporate banking division of ICICI Bank. The TBMS-F solution will enable the Bank to setup highly customisable service structures and generate itemised billing advices to assist its clients in their reconciliation processes.
Ms Madhabi Puri Buch, Senior General Manger, ICICI Bank said, "SunTec and TBMS-F were selected after going through a global bidding process and evaluating various products available in this space. We believe that the system will help us offer a range of services to our clients in a highly customizable and transparent manner." Said Mr K.Nandakumar, President & CEO of SunTec, "We are happy to associate ourselves with ICICI Bank, which has been one of the trendsetters for the Indian banking industry, whether it is in the wide spread usage of alternate channels or introduction of technology enabled services". Emphasising the uniqueness of TBMS-F, Mr. Nandkumar said "Granular information is an important requirement for banks today in view of the focus on better customer servicing."
ICICI Bank (NYSE:IBN) is India's second largest bank with an asset base of Rs. 1252 billion as of March 31, 2004. ICICI Bank provides a broad spectrum of financial services to individuals and companies. This includes mortgages, auto and personal loans, credit and debit cards, corporate and agricultural finance. The Bank services a growing customer base of more than 10 million customers through a multi-channel access network which includes about 450 branches, 1790 ATMs, call centres and Internet banking (www.icicibank.com).