Both ICICI Infotech and Eurobase have invested significantly in developing and integrating the products, bringing to market an Object Orientated solution giving a low cost of ownership that allows customer specific changes to be developed quickly and maintained as part of the core software. The unique architecture of these products allows them to interface with other treasury solutions where a bank deploys more than one application in the front office. These products, which can easily integrate with third party products, will provide banks with a consistent view of the data across the front, middle and back office operations.
Commenting on the alliance, Hari Padmanabhan, Executive Director of ICICI Infotech said "ICICI Infotechâs in-depth expertise in the financial services market coupled with a leading solution like Siena will provide the banking industry with a complete front-middle-back office STP solution. This is a symbiotic alliance, through which we can tap into the US and European financial services market."
John Wilson, CEO of Eurobase adds, "The Eurobase product vision is to provide banks with a very cost efficient STP solution, whilst effectively managing operational, market and credit risk. We chose to work with ICICI Infotech because of the rich functionality of the products and the compatible modern technology of the solution, which complements Sienaâs Java architecture. Our strong relationship with Infotech will enable us to work together on future product development to ensure our clients benefit from the application of IT to their needs".