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Indus Software Private Limited (Indus
Software) is an international software products
company, headquartered in Pune, which provides
leading edge solutions for retail financial services.
It is a 100% Export Oriented Unit (EOU).
It uses a product mix of both Internet and emerging
technologies and develops mission critical software
for Banking and Financial applications.
The company has developed a wide range of software
products catering to the Retail Finance area.
Indus has implemented solutions effectively in
reputed organisations across the globe. Indus
has also established a subsidiary, Indus Software
Inc in New Jersey, USA.
LSI - Lending Solutions from Indus is
a workflow based, web-enabled, integrated solution
that caters to the retail finance industry. LSI
helps banks and finance companies to manage their
business in the areas of auto, consumer equipment,
home finance and personal loans by addressing
the entire process life cycle covering application
processing, repayment processes, collection management
of delinquent loans and loan accounting treatment.
A major achievement of Indus has been the successful
implementation of Lending Solutions at The
Union Bank of Colombo, Sri Lanka. This agreement
has enabled Indus Software to penetrate the Sri
Lankan territory. It has aptly customized LSI
to suit the requirements of The Union Bank of
Colombo. The bank is one of the leading banks
in Sri Lanka and has positioned itself to emerge
as a strong retail bank, providing integrated
financial services. It is the first in the
South Asian region to obtain ISO 9002 Quality
Certification for the full range of Banking
Services and the first Bank in Sri Lanka to introduce
internet Banking services.
The dual challenge faced by Indus Software was
to prove that LSI was compatible with the existing
software of UBC as well as to directly update
records online with no time lag. The implementation
of LSI has made the usage of Flat File interface
between AS 400 platform with DB 400 software and
Windows NT platform with Oracle redundant. The
initial system, which had a six-hour time lag,
now demonstrates real time response capabilities.
Mr Shan Shanmuganathan, CEO, Union Bank of
Colombo said, "We are extremely pleased
with the successful implementation of 'LSI' by
Indus Software. The agreement was signed with
a view to adopt an efficient technological platform
in order to increase productivity. We are glad
that the LSI implementation has contributed towards
value-addition for us. We are sure that LSI will
definitely enhance our growth. This reiterates
Indus Software's commitment to provide the banking
and finance industry with cost effective and time
saving / lending solutions."
Mr Vivek Mannige, Managing Director, Indus
Software Pvt. Ltd. said, "We are proud
to be recognised as the leaders in our business
domain knowledge. The foray into the Sri Lankan
market is a milestone development for us. We are
honoured to be Union Bank of Colombo's IT partners.
We are confident of a successful partnership,
as Indus Software has implemented solutions in
reputed organisations across the globe. Our skills
in product innovation and up-gradation are amongst
the best worldwide. This alliance is evidence
of the confidence UBC has displayed in our ability
to deliver world class, scaleable, multi-platform
solutions with cutting edge technology."
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