October 14, 2003
Credence Analytics (I) Private Limited, India's leading financial software solutions provider, has recently bagged mandates from ING Vysya Mutual Fund & ABN Amro Bank N.V in rapid succession for its SMS-based wireless client servicing application "SMS-Butler". While ING Vysya Mutual Fund would be using this application for sending market updates and NAVs to its clients, ABN Amro Bank N.V would be looking at sending treasury market information to their clients categorised into different groups.
Credence SMS-Butler is an SMS based, on-time and cost-effective application designed for client servicing, status-tracking and inter-office communication available on a 24*7 basis across geographically wide spread locations or mobile users. The application is based on push & pull technology which facilitates not only information dissemination using SMS as the medium but also allows clients to query the organisation's databases for procuring information.
"What started as an innovative value added service from our end has become a necessity for the clients", says a senior official from the distribution desk of a leading foreign mutual fund which uses Credence SMS-Butler to broadcast market updates to distributors and investors.
What distinguishes Credence SMS-Butler from the other solutions is that it enables branding and personalisation of the SMS message as it goes to the clients. This would imply that the message goes with the company's brand name instead of an unrecognisable number and the client is addressed by name. The application is also capable of automatically sending trigger-based alerts to specific clients. The solution can also be integrated to multiple databases, live screens or existing SMS-gateways and become an interactive tool for client query and response. That apart, the application can be rapidly deployed.
Mr. C. K. Guruprasad, Director â Marketing, Credence Analytics, observes, 'Being a software company with strong domain knowledge, our clients get the confidence and comfort to work with us in developing innovative SMS based solutions. We believe that SMS will soon evolve to become an alternate channel for client/investor servicing and transaction processing for companies offering financial products and services. It is this vision and product innovation that has won us clients like Citibank, Prudential ICICI AMC, Standard Chartered AMC, IL&FS Mutual Fund, Cholamandalam Distribution Services, ING Vysya Mutual Fund & ABN Amro Bank."
According to the sales league table 2002 of International Banking Systems UK, Credence Analytics is India's fourth largest financial software solutions provider with over 40 clients across banks, mutual funds, insurance companies, primary dealers, financial institutions, brokers, non-banking finance companies, housing finance companies and corporates for its various products and service offerings.