Kerala State Electronics Development Corporation (Keltron) will make available a comprehensive core banking package for cooperative banks in the State.

Public sector Keltron is teaming with Technopark-based US Technologies in this venture, an official spokesman said here.

CHEAPER PACKAGE

The aim is to provide access to cost-effective package with total technology support to the cash-strapped cooperative institutions in the State. The changeover to core banking technology has now become imperative thanks to constraints associated with the legacy systems to deal with tough competition.

All new-generation banks and almost all nationalised banks have completed the changeover to the sophisticated technology offered by core banking. But this has come at a price since they have all plumped for proprietary technology owned and services provided by big multinational companies.

CLOSED OPTION

This was an option entirely ruled out by the cooperative sector for obvious reasons, the spokesman said. And this also had denied it access to cutting-edge technology badly needed to fight it out in the market place.

Keltron and US Technologies would make available to cooperative societies core banking software, hardware, networking technology and ATM machines as part of a single package.

The combine is making use of free software-based technology to get around costly licensing procedures and investments on ancillaries associated with proprietary software.

COMPETITIVE PRODUCT

But this can compete with the best package the market can offer and will equip cooperative institutions to slug it out effectively at the marketplace with both private and nationalised banks, the spokesman added.

Desirous cooperative banks may get in touch with the Project Officer, Core Banking, Keltron Knowledge Centre, Bakery Junction, Women’s College Road, Vazhuthakad, Thiruvananthapuram-14 or call 97469-15054.

vinson.kurian@thehindu.co.in

(This article was published on December 4, 2012)
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