3i Infotech, a global provider of IT solutions and one of India’s largest and the fastest growing software product companies*, today announced that it has been awarded an order from Kazakhstan’s Temirbank; for its Universal Lending Solution, TRITON™. TRITON™ will power transformation of Temirbank, one of Kazakhstan’s top 10 banks into a retail bank.
Under the terms of the agreement, 3i Infotech will provide in-depth business and technology consulting services to support the bank’s ambitious retail dream. The bank will implement TRITON™, 3i Infotech’s Universal Lending Solution, covering loan origination, management and collection.
“Temirbank as an organization has strived to be one of the finest corporate banks in Kazakhstan. Having achieved this goal, we now want to replicate the same success in retail banking. For this purpose it was essential to leverage technology that will give us the edge for realizing our dream,” said, Mr. Murat Yuldashev, Chairman of the Board, Temirbank.
He added, “Temirbank’’s decision to select 3i Infotech’s TRITON emerged after an exhaustive due diligence involving various other international vendors. In addition, 3i Infotech’s expertise in the retail banking space and impressive TRITON client list reinforced our decision to implement TRITON. TRITON’s USP lies in its compatibility with conventional and Islamic (Takaful) retail banking products and procedures, covering mortgages, personal loans, auto and insurance agents as well as credit bureaus.”
Commenting on the deal, Mr. Kalpesh Desai, Chief Operating Officer, 3i Infotech (Europe, Middle East & Africa), said: “We are privileged to be integral to Mr. Murat Yuldashev’s vision to transform Temirbank into a leading retail bank. I am confident that the choice of TRITON will go a long way in fulfilling his vision.” “This deal reinforces 3i Infotech’s strength in the BFSI (Banking, Financial Services and Insurance) space,” he further added
3i Infotech Limited provides a range of information technology solutions for insurance, banking & finance, e-Governance, manufacturing, retail & distribution. The company is SEI CMM Level 5-compliant for its software business and ISO 9001:2000-certified for its Infrastructure Services and Business Process Outsourcing Operations.
Using its domain knowledge and through continuous investment in technologies, 3i Infotech Limited helps corporations in their businesses through its expertise in enterprise-class software solutions, software services, information security consulting, IT infrastructure and disaster recovery solutions. 3i Infotech, one of the top 5 Indian Software Product Companies*, has a presence across 5 continents and serves customers in 45 countries. It is the fastest growing Indian Software Product Company in 2004-05, with respect to both domestic and overseas software product sales*.
Temirbank was established in March 1992. It has main office in Almaty and operates 15 branches and 46 settlement centers throughout Kazakhstan. Temirbank is one of the ten largest banks in Kazakhstan by assets. Core clients are small and medium enterprises dealing with imports, wholesale trade and agriculture. The Bank is also an authorized bank in financing SME businesses with funds received from EBRD, FMO, IBRD and Asian Development Bank. The Bank is an associated member of Visa International payment system and distributor of American Express cards and cheques. With a purpose to expand its regional presence, in 2003 the Bank, together with EBRD, acquired a shareholding stake in Ineximbank, headquartered in Bishkek, Kyrgyzstan. Currently Temirbank’s shareholding is equal to 46%, whilst EBRD controls 25%. In 2002 the Bank set up a leasing subsidiary, Temirleasing which is involved in the leasing of equipment, special machinery, transport vehicles and agricultural equipment. Foreign subsidiary, Temir Capital B.V. is a special purpose vehicle established in the Netherlands to facilitate cross-border funding. Today, the bank re-examines its priorities and puts a particular emphasis on retail banking and SME business, since these areas demonstrate impressive growth and possess the greatest potential.
Disclaimer: Except for the historical information contained herein, statements in this release, which contain words or phrases such as "will", "would", "expect", "believe", and similar expressions or variations of such expressions may constitute "forward-looking statements". These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of our principal international markets, the performance of the industry sectors in which our clients are based, the performance of the information technology industry sector world-wide, competition, our ability to obtain statutory and regulatory approvals and to successfully implement our strategy, future levels of our growth and expansion in business, technological implementation, changes, advancements, and redundancies, the actual demand for software products and services, or the future potential or feasibility thereof, changes in revenue, income or cash flows, our market preferences and our exposure to market risks, as well as other risks. 3i Infotech undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof.
