- Synergy Log-in Systems installs RCP software at three Asian Banks
Didcot, Engand – 21 August 2001 – RCP Consultants Ltd. (RCP), a leading provider of straight through processing solutions to the growing e-financial markets, announced today that its software systems are being implemented at three Asian banks by Indian partner, Synergy Log-in Systems Ltd. (SYNLOG). The new customers are installing RCP interfaces for Reuters’ Dealing 2000 and Reuters Money 2000, providing automated market-data and post-trade integration.
The new business results from a partnership established between RCP and SYNLOG at the end of 2000 to provide new functionality for SYNLOG’s Integrated Treasury Management System (ITMS). SYNLOG, which specializes in treasury systems, was the world’s seventh largest banking solutions provider in 2000.
UTI Bank and Global Trust Bank in India and Delphis Bank in Mauritius are installing RCP’s Dealing 2000 interface, allowing Reuters’ foreign exchange transactions to be automatically transferred into the ITMS system. UTI Bank and Delphis Bank are also installing the Reuters Money 2000 interface from RCP, automating import of foreign exchange rates.
According to Kaushik Basu Mallick, Business Development Manager at SYNLOG, the RCP systems will improve information flow for the Banks’ core treasury systems.
“RCP’s software automates processing of Forex deals and rates, reducing the need to re-key information, and increases accuracy,” said Mr Basu Mallick. “The result is faster and has better access to vital information that is core to our customers’ business.”
Gavin Smith, Financial Information Systems Divisional Manager of RCP, stated: "SYNLOG was selected as one of our partners on the basis of its proven expertise in Asian financial markets and its established solutions and customer base. Its entrepreneurial style fits well with our own and these three early orders bode well for a long and mutually profitable partnership for both parties."
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Global Trust Bank, Mumbai was founded in 1994 as a “model and modern” bank. Its business is worth Rs 13,000 crore, focusing on technology driven products, convenience and accessibility.
UTI Bank, Mumbai is promoted jointly by Unit Trust of India, the largest mutual fund in India, and the Life Insurance Corporation of India and General Insurance Corporation. Its capital is Rs 131.9 crore, with public holding at 28%.
Delphis Bank, Mauritius, founded in 1991, was listed on the Mauritius Stock Exchange in 1999 with a mission to offer traditional personalized service. The bank has total deposits of 4387 Rs. million.
Synergy Log-in Systems Ltd (SYNLOG) is a software company based in India, with offices in India, USA, UK, Singapore and Malaysia. It is listed on the Bombay Stock Exchange. SYNLOG’s offices in India are located in Mumbai, Chennai and New Delhi. SYNLOG has set up a software development centre in Chennai under the Software Technology Park scheme of the Government of India. SYNLOG employs about 140 software professionals with technical expertise in client-server and Internet technologies.
For more information on SYNLOG: visit http://www.synlog.net
RCP Consultants Ltd. (RCP) is an independent software house founded in 1980, based in Didcot, Oxfordshire.
RCP develops software for Foreign Exchange (FX) transactions, both trading systems and post-trade “ticket” processing. RCP is approved to ISO 9000, and has over 100 banking customers worldwide. For many years, RCP has been a supplier of strategic software products to Reuters, and is currently working with other major vendors who have chosen RCP to provide automated capture of FX trades.
For more information on RCP Financial Systems visit: http://www.rcp.co.uk/banking/
Contacts for information:
T: +44 1235 510116
T: +44 118 984 3386
Kaushik Basu Mallick
Synergy Log-In Systems Ltd., India
T: +91 22 490 3068
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