Mumbai, Maharashtra, India:“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.
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 NPAή”, 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"
About Coromandel Infotech:
Coromandel Infotech is a mature and aspiring software services company with select industry focus and provides innovative IT solutions to the growing business needs of its customers. Over 600 professionals, both in India and North America, with excellent technical skills and years of industry experience, deliver end-to-end IT services to clients, using a strategic global delivery model that accelerates the mind-to-market time frame.
Being a CMMI level 3 Company, Coromandel Infotech is highly process driven, which instills confidence among its customers & partners on quality deliverables of IT services and solutions.”
About IndiSoft Consultancy Services Pvt Ltd:
IndiSoft with a clear and strong vision, today, has grown into an organization with wide spectrum of off-the-shelf products, thousands of man-months development experience and a team of qualified and diligent professionals, bonded together with an enterprising spirit. Today, IndiSoft products, services and professionals have already made their ways to the West, Middle East and the East Pacific.
Eden Menon,General Manager-PR, WMA - India, +91 (22) 25398200