VSoft Technologies today announced that The Urban Co-operative Bank Ltd. (UCB), Rourkela, has decided to implement SuVikas, VSoft’s Core Banking Solution, for its operations. The bank currently operates from five of its branches using Branch Automation software. With the implementation of SuVikas, UCB Rourkela will be able to provide its customers anytime, anywhere banking with mobile alert facility. The bank is also keen on taking full advantage of SuVikas’s strong Management Information System (MIS) for enhancing the business and organizational decision-making activities. According to VSoft, SuVikas is capable of seamlessly integrating with the bank’s future multi-channel strategies such as ATM and Internet Banking.

UCB Rourkela also has plans to provide Core banking solution through its data center to other UCBs in the state. And since the bank is also the clearing house in Rourkela, it plans to automate the clearing process shortly.

Commenting on the implementation of VSoft’s SuVikas, Mr. A C Samal, Secretary, Urban Co-operative Bank Ltd., Rourkela, said,

"As part of our aggressive growth strategy, we wanted to put in place a centralised core banking platform. We are confident that VSoft's SuVikas will provide us a powerful future-ready platform to address emerging challenges, improve internal efficiency and productivity, and enable us to give our customers the best possible service".

Speaking about UCB Rourkela’s core banking initiative, George Verghese, Vice President, Sales, VSoft Technologies, said,

“We are extremely pleased about partnering with an esteemed bank such as UCB Rourkela in their ambitious core banking initiative. I’m sure that SuVikas’s proven capabilities will enable the bank to accelerate its growth plans and enable it to provide additional financial delivery channels to its customers, enhancing customer service”.

- End -

About VSoft Technologies

A global information and technology provider of process improvement tools for financial institutions, Atlanta-based VSoft Technologies has been offering scalable, flexible solutions since its inception in 1996. Led by industry experts with proven track records in excellence, VSoft Technologies is proud of its ability to provide technology designed for easy implementation and migration from the proprietary banking systems of the past. VSoft’s experienced systems integration teams ensure that every customer gets the VSoft Advantage. VSoft Technologies has multiple products, services and support that cover back office, operations, lockbox processing, Check 21 legislation, and retail functions. These solutions are designed to maximize core efficiencies, while reducing operational costs. More information about the company can be found at www.vsoftcorp.com

About SuVikas

SuVikas is a premier, cost-effective core banking solution developed by VSoft Technologies for co-operative banks in India. SuVikas is a user-friendly, flexible and self-supporting application that permits easy performance, improves overall management efficiency and enables banks to concentrate more on the business of finance without much concern about the IT.

AboutThe Urban Co-operative Bank Ltd., Rourkela

The Urban Co-operative Bank Ltd., Rourkela was founded in 1990. The bank has five branches and operates in the revenue district of Sundargarh, Jharsuguda & Keonjhar in Orissa with a working capital of about Rs. 100 crore. UCB has been adjudged as the Best Co-operative Bank of the state of Orissa six times. The bank is rated as a Grade-1bank by the Reserve Bank of India (RBI).