After ICICI Bank, Axis Bank too signs up SunTec

Written by Banking Bureau | Thiruvananthapuram, Feb 25 | Updated: Feb 26 2008, 07:50am hrs
After ICICI Bank, Axis Bank too has hired SunTec Solutions for fee-based billing solutions covering its 600 branch-offices and extensions. So far the Technopark-based SunTec had experienced only non-Indian banking clients like Lloyds TSB, ING Bank and HSBC Bank.

The customisation, according to Subhakanta Satpaty, spokesman, Axis Bank, has enabled 'efficiency in handling very complex billing', driving higher revenue through enhanced client-relations.

At present the SunTec product is deployed in two separate phases for Axis Bank's current accounts, cash credit accounts and savings bank accounts.

In future, Axis Bank has plans to leverage SunTec features like 'relationship-based pricing and bill modelling', says Satpaty, in a release, here.

The project implementation began in March 2007. This was for the bank's current and cash credit accounts. After completing the Phase I in September, the bank went in for covering the quarterly billing for Savings Bank Retail Accounts with SunTec RBP solution. "Our team could achieve the implementation very fast," says Nandakumar, CEO, SunTec.

SunTec is a SEI CMM Level 5 certified company operating BFSI (Banking, Financial Services and Insurance) and CME (Communication, Media and Entertainment) verticals.