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| Sunday, 2 January 2005 |
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Business |  |
| News Business Features Editorial
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NSB links up with ICICI Infotech National Savings Bank owning and managing over 180 billion portfolios (through their Asset Management Department) recently linked up with the Indian giant in the field of software - ICICI Infotech. In order to provide leverage to modern banking methods by moving ahead with an IT based Portfolio Management System (PMS), NSB is investing over thousand million rupees to adopt the Kastle software solution supplied by ICICI as the initial step of NSB's IT strategic plan. A comprehensive limits and exposure management module is the backbone of the control mechanism provided by the solution. The system offers full-fledged risk management and accounting capability. ICICI Infotech is an emerging force, within the exclusive club of end-to-end IT solution providers. With the experience managing some of India's most volume intensive and complex financial applications, the company is uniquely situated to take its expertise global. Kastle - Integrated Treasury Management Solution is a sophisticated treasury product for bank treasuries, corporates and investment bankers involved in complex financial transactions in the money, debt, capital, currency and derivative markets. It is a mature solution that has been enhanced as a fully integrated treasury solution for several years and has been well proven through implementing in many financial institutions. Some of the Sri Lankan leading private banks is already using this software solution. "By automating our Asset Management Department, the system will help us to manage our portfolios efficiently and effectively in order to maintain our return of investments. This will also help us to promote sale of government debt instruments to the markets keeping in line with the government policy. Rest of the projects under our IT strategic plan inter-connect all the branches and automated teller machines. Also integrated ATM solutions and co-banking solutions will be introduced in the future. All these projects, which are in progress are scheduled to be completed by 2006" says Mr. Cyril Herath, Chairman, National Savings Bank. The NSB which has inherited a tradition in savings mobilisation of almost 175 years, serves its customers and inculcates the saving habit through an islandwide network of 112 branches, 7 Postal Banking Branches and 9 savings shops. In addition, the 4036 Post Offices and Sub Post Offices throughout the country transact business on behalf of NSB enabling the bank to promote savings even in remote areas. Having a range of savings products from childhood to retirement, NSB is the proud banker to over 13 million people. |
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