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Coromandel Infotech Partners With IndiSoft Consultancy
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Monday, July 23, 2012:
"Coromandel Infotech and IndiSoft Consultancy Services Pvt Ltd have teamed up to utilize and synergize their combined strength in taking "RxOffice NPA", an innovative product in the banking and financial institution domain, to the market. An agreement to this effect was signed on 13th July 2012 by the senior management of both the companies.
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RxOffice NPA® was launched in the month of March 2012 by Dr. R. B. Barman, the former Executive Director RBI Mumbai.
The exponential rise in Non-performing Assets (NPAs) raises serious concerns about the financial position of banks affecting its financial health. With the launch of this product "RxOffice NPA®", the company is leveraging its capabilities in the Default Management, bringing forth its expertise and success from the US Finance industry to the Indian market.
"RxOffice NPA" aims to reduce the impact of non-performing assets and help banks and financial institutions to efficiently track the loan defaults cycle. It covers the entire workflow from Initiation of Defaults, Securitization, Arbitration and 138 (Cheque Bounce).
The two companies will engage in joint marketing activities for identifying new opportunities and markets in the BFSI space. Coromandel Infotech's vast experience in banking and financial services domain shall provide the necessary impetus for "RxOffice NPA" to be a leader in the targeted geographies."
Ramesh Iyer (SBU Head - BFSI) said "with the growing concern on the Non-Performing Assets, Technology and Systems would help the banks to streamline their process and improve the efficiency and increase productivity in managing their NPA. Partnering with large organization like Coromandel Infotech, having focus deliverables in banking sector would help IndiSoft reach the market place"
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