UCO BANK SELECTS XCHANGING TO IMPLEMENT DISASTER RECOVERY SOLUTION
(Thomson Reuters ONE) -
Press Release
UCO BANK SELECTS XCHANGING TO IMPLEMENT DISASTER RECOVERY SOLUTION
To become the first Indian bank to implement EastNets' empowerment product
MUMBAI, 1 June 2010 - Xchanging (LSE: XCH), a large, fast growing global
business processor, announced today that it has extended its relationship with
UCO Bank, a leading Indian bank, to implement mission critical disaster recovery
solution for its most business critical financial telecommunication
infrastructure.
Xchanging will enable UCO Bank to seamlessly integrate near real-time databases,
payments, and transactions over its SWIFT payment gateway with the bank's
existing disaster recovery infrastructure. Xchanging EastNets' implementation
compliance and payment solution conforms to international banking benchmarks.
The solution will provide a secure environment for efficient duplication
detection, and recoverability of high volume messaging traffic. The scope of the
implementation also includes back-up of foreign exchange payments and
telecommunications platform.
A leading commercial bank and Government of India undertaking, UCO Bank has an
extensive network of over 2,000 service outlets and 35 regional offices across
India. With additional offices in Hong Kong, Singapore, Malaysia and China, UCO
Bank conducts extensive foreign exchange business in more than 60 centres across
India. Xchanging's comprehensive disaster recovery solution will address the
data recovery needs of the bank's operations.
David Andrews, CEO Xchanging said, "We are delighted to be the provider of
choice for UCO bank and to be the first to introduce the EastNets solution to
the Indian banking market. IT is playing an increasingly important role in
business processing across industry sectors. As a technology powered business
processor, our vision is to now bring the power of collaborative technologies
such as cloud computing to our customers' business processing needs. With our
extensive Intellectual Property, we have already set the foundations to be ahead
of the market in providing our customers the benefits of new generation
technologies".
Nimish Soni, Managing Director, Xchanging India added, "Xchanging has been
supporting UCO Bank since 2004 as a SWIFT Partner. Xchanging's mission critical
solution will allow UCO Bank to streamline its back-up and recovery practices
and derive increased operational efficiencies. In the event of any hardware
failure, human error, file system corruption or disaster, our solution will help
the bank to restart operations without any delay in switching to the back-up
system". He further added, "We are seeing a growing number of banks adopt an
increasingly focused approach towards disaster recovery management planning.
This is spurred by an increased regulatory thrust by the Reserve Bank of India
(RBI). UCO Bank when looking for a strategic partner to augment its disaster
recovery planning selected Xchanging after a careful assessment of the depth of
our experience".
Xchanging designs, builds and runs a range of technology solutions for business
processing. The company embeds its Intellectual Property (IP) to create a
solution faster and more cost effectively than customers can themselves. These
technology services are aimed at organisations that wish to use IT services to
improve organisational effectiveness and profitability.
Xchanging's capabilities in the banking and securities industries include retail
investment account management and securities processing services. By the end of
2010, it will be the largest independent investment account processor in
Germany, and is expected to administer approximately 1.5 million accounts for
its Enterprise Partnership (EP) Allianz Global Investors and other customers
such as SEB Bank and MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH (MEAG).
- ENDS -
For further information, please contact:
Xchanging
Meeta Thareja
Tel: +44 (0)20 7780 5374
meeta.thareja(at)xchanging.com
India - Gutenberg Communications Tel: +91 (0)
41324969 / 968 / 291
pranav(at)gutenbergpr.com
UK - Cardew Group Tel: +44
(0)20 7930 0777
xchanging(at)cardewgroup.com
About Xchanging
Xchanging is one of the largest and fastest growing business processors. With a
wide range of multinational customers in 42 countries and employing over 8,000
people, we are a truly global company. Our aim is simply to provide business
processing services better, cheaper and faster.
Xchanging provides procurement, accounting, human resources and technology
services across industries. These include banking, insurance, manufacturing,
retail and real estate among others. We combine functional expertise with deep
industry domain knowledge to provide industry-specific outcomes for our
customers.
Listed on the London Stock Exchange in 2007, the company is in the FTSE250, the
index of mid-capitalised companies traded on the London Stock Exchange.
Xchanging is also a member of the FTSE4Good index which measures the performance
of companies that meet globally recognised corporate responsibility standards.
www.xchanging.com
About UCO Bank
Founded in 1943, UCO Bank is a commercial bank and a Government of India
Undertaking.
Headquartered in Kolkata, UCO Bank has an extensive network of over 2,000
service outlets and 35 regional offices across India. With additional offices in
Hong Kong, Singapore, Malaysia and China UCO Bank conducts extensive foreign
exchange business in more than 60 centres across India.
www.ucobank.com
About SWIFT
SWIFT is a member-owned cooperative that provides the communications platform,
products and services to connect close to 9,000 banking organisations,
securities institutions and corporate customers in 209 countries. SWIFT enables
its users to exchange automated, standardised financial information securely and
reliably, thereby lowering costs, reducing operational risk and eliminating
operational inefficiencies. SWIFT also brings the financial community together
to work collaboratively to shape market practice, define standards and debate
issues of mutual interest.
For more information, please refer to our website www.swift.com
[HUG#1419430]
Unternehmensinformation / Kurzprofil:
Datum: 01.06.2010 - 08:00 Uhr
Sprache: Deutsch
News-ID 21741
Anzahl Zeichen: 0
contact information:
Town:
London
Kategorie:
Business News
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