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Unicorp to market ICS, TBS software in India

Unicorp also proposes to provide after-sales service and modify the Banking Automation System for Integrated Services software as per the customer's needs.

As part of the tripartite agreement, TBL, a subsidiary of Telecom Consultants of India Ltd, will give Unicorp technical support and help upgrade technology. All three firms will contribute to the initial investment of Rs 30-50 million for technical training and product launches. BANKS, which is meant to cover all banking functions, is to be launched in India in July.

Unicorp will be paying ICS a license fee that will vary with the products sold and the number of copies made of these products. The agreement will be valid till December 31, 2000 and gives Unicorp exclusive marketing rights for India, company sources said. Unicorp managing director Arun Sogani had earlier hinted at plans to venture into the Far East.

Unicorp is trying to sell the software to private and nationalised banks in the country, proposing to implement at least three pilot projects by December. Things are made easier because BANKS can be operated in languages other than English too.

The idea of banking software is not new to India. Already the State Bank of India is using specialised software like Bankmaster in all its branches, even buying the source code from Kindle of Ireland. Other banks are using software like Banc 2000, made by Bangalore-based Infosys, and Equation-3, made by Midas Kapiti International, UK.

- Compiled from the Indian media

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