Jammu and Kashmir Bank decides to implement Credence iDEAL
Added: (Thu Dec 11 2003)
Pressbox (Press Release) -
Jammu and Kashmir Bank, India's leading private sector bank decides to implement Credence iDEAL as their integrated treasury software. The J & K bank, recipient of best private sector bank and best universal bank award by the Financial Express Survey conducted in April, 2003 is on a technology upgradation spree to match its fast paced growth plans. Currently having 454 branches, the bank has shown growth in all parameters in terms of Business turnover, profitability, introduction of new products, and reduction in NPAs to record low levels. Technology has been used intelligently to act as a major enabler to support these growth plans.
The bank has an impressive investment portfolio of around Rs. 8,000 crores as on date and foreign exchange business turnover of around Rs. 3,666 crores during last financial year. The investment portfolio grew by 17.4% in FY2003 and the foreign exchange turnover had a remarkable growth of 24.1% over the previous year. In line with their automation plans, the bank decided to upgrade its existing technology platform to implement a state-of-the-art integrated treasury solution.
M. R. Rajesh, Head-Banking Solutions at Credence Analytics says “ With J&K Bank's decision to opt for our solution, Credence iDEAL has emerged as the most preferred treasury and risk management software in India. We are thrilled that J & K bank has joined our existing client family. Credence will partner J&K Bank in not only satisfying their current treasury and risk management requirements, but will work together in improving their work flow processes on an on-going basis to improve operational efficiencies. ”
Credence Analytics, today has almost more than 30 treasury and risk management software clients. The company aims at providing enhanced value to its clients by means of specialised software solutions.
For more details please contact:
Swastik Patra
Credence Analytics (I) Pvt. Ltd.
228, 2nd Floor, Laxmi Plaza, Laxmi Industrial Estate,
New Link Road, Andheri (W), Mumbai – 400 053, India
91-22-26331094, 91-22-26313627(fax)
swastikpatra@credenceanalytics.com
www.credenceanalytics.com
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