IndiSoft Consultancy Services Successfully Implements Rx Office NPA at Cosmos Bank

Last Updated: Fri, Jan 04, 2013 14:01 hrs

Mumbai and Pune, Maharashtra, India:IndiSoft Consultancy Services today announced the successful rollout of its flagship product RxOffice NPA at Cosmos Co-operative Bank. IndiSoft had launched the pilot earlier this year in March 2012.

With this Rollout of RxOffice NPA, IndiSoft has introduced the sophisticated technology for monitoring and managing the Non Performing Assets (NPA’s). “This platform provides the tools for managing the defaults within the SURFAESI act while providing greater visibility to risk exposure”, informed Mr. Shashikant V Bugde, the Chairman of Cosmos Bank.

Mr. Vasant Manwadkar, IT- Head, Cosmos Bank stated that RxOffice NPA is a robust platform with inherent data security and scalability. The built in Dashboards, Workflows and tracking system are the strengths of the software for initiating proactive actions and planning. With Rx Office NPA, the organization is expecting a ROI within a year.

With this implementation at Cosmos bank we have been successful in launching the RxOffice platform in India customized for the Indian needs very effectively said Mr. Prasad Nagool CEO, IndiSoft Consultancy Services. This platform has been extensively used in the United States for more than 5 years and our team has successfully integrated the workflows like Securitization, Arbitration, Darkhast, sect 101, sec 91 etc, which are widely used by Indian Banks for NPA management.

About IndiSoft Consultancy Services:

IndiSoft started its operations in 1999. What began 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.

Adhered to its sole mission, IndiSoft is on its way to build a healthy association with its customers by committing itself to cater to the customer’s various business needs. Today, IndiSoft’s products, services and professionals have already made their ways to the West, Middle East and the East Pacific

About Cosmos Co-operative Bank:

Established in 1906, the Cosmos Co-operative Bank Ltd. is the oldest & second largest bank in the country. The Bank has recently completed glorious 106 years of service successfully. The Bank is a professionally managed 'Financial Institution', a benchmark of credibility and innovation. Cosmos Bank operates through 120 branches in India spread across 6 States and in 28 Major Cities.

Cosmos Bank has nurtured its traditional values in business practices and in serving the small customers. At the same time it has adopted new technologies and advanced banking tools to add value to its services. Cosmos Bank has carved a niche in the banking sector due to its rich heritage, integrity, adherence to prudent banking practices, technology advancement, customized products and services and most of all due to its experienced, qualified and professional management.

Eden Menon, General Manager, William Mill Agency, +91 9869810067

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