The Infrastructure Development Bank Limited, Nepal selects Rubikon Banking System

London - 7 June 2010

Neptune Software plc is pleased to announce that Infrastructure Development Bank Limited, Nepal (ID Bank), has selected Rubikon Banking System as part of their expansion plan.

Headquartered in Kavre, ID Bank is promoted by visionary bankers and developers and licensed by Nepal Rastra Bank under the banking and financial regulation ordinance 2061.

After going through a vigorous selection process, Rubikon stood out as the new generation banking system with modern design and architecture which caters for the needs and demands of ID bank, defeating four other vendors. The bank was impressed by the J2EE technology, various modules of Rubikon compatible with Nepal's Market and its EOD processing as well as Neptune’s ability to deliver on time and within budget.

As it stands ID bank has nine branches says the Chairman of the Bank Prof. Khem Nath Dallakoti, and since ID Bank plans to establish more branches and grow into the national level development bank, Rubikon will play an important role in the expansion especially with its various channel manager module. Nepal being the country with many mountains and hills, the offline feature of Rubikon will be an added advantage, particularly when the bank is expanding in places where network connections can sometimes be a challenge.

Neptune’s Sales Director, Stacey Small added ‘ID Bank represents our second win in the Nepalese market and highlights the growing potential of Rubikon in the Asian market. We have worked hard with our local partners Progression IT to promote Rubikon to the Nepalese Banking market and are starting to reap the benefits of this. Progression IT will work alongside us to implement the solution and have played a key role in working on the implementation of our existing implementation at Infrastructure development Bank.’

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